The question of whether one can profit from buying property in Hua Hin is a frequent topic of discussion among both buyers and sellers.
In this month’s column, I’ll discuss the complexities of the property market, shedding light on growth rates, currency fluctuations, and the real reasons why someone should buy property in Hua Hin.
First thing first, no one buys property in order to lose money. That’s true whether you buy in Hua Hin or anywhere else.
However, the growth rates of the property market in Hua Hin are a nuanced subject, particularly when factoring in the Thai Baht’s volatility against other currencies. This fluctuation can significantly impact investment returns. For instance, I bought a house when the exchange rate was 74 THB to GBP. Selling around 2021, I could afford to lower the price by nearly 40% and still retain the GBP equivalent, showcasing how currency shifts can influence seller strategies and buyer opportunities.
This can mean that some sellers are able to lower the price of their property considerably, as their priority is to return funds to another country.
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Another example was only recently when a buyer was looking at an off-plan property that required to be built over a year, in this case he looked in 2019/20 and the currency for him was 30THB to the USD. Prior to build the THB weakened and hit a period of 36 THB to the USD at which point he saw 20% off in his mind and asked if he could wire the entire payment over.
Recent trends have seen several currencies strengthen against the THB, turning the market in favour of international buyers. It’s crucial for prospective buyers to monitor these shifts, as they can notably affect property choices and investment returns in Hua Hin.
Andy Dyett, the Hua Hin Property Expert
Many buyers are unaware of the best practices for currency conversion when purchasing property in Thailand. The common mistake is sending THB directly to Thailand rather than sending your home currency.
By transferring GBP, USD, Euro, etc., and letting Bangkok’s head office banks handle the conversion, you’re likely to get a rate close to the market benchmark, thus saving a significant amount in the process.
So back to the question in hand: Can you make money on property in Hua Hin?
My advice to buyers (and which may actually end up costing me sales!) is always that purchasing property here should not be seen primarily as a profit-making venture.
Instead, it’s about affording a lifestyle that offers beautiful weather, delicious food, and all the other amazing lifestyle improvements that Thailand offers. When it’s time to move on, aiming to recoup your investment with a little extra is a realistic expectation. If the idea of this isn’t for you then renting might be a more suitable option.
Hua Hin is about enhancing your quality of life. Savour eating out cheaper than eating at home, unwind on the beaches, indulge in relaxing massages and tee off at world-class golf courses, among other budget-friendly activities. These are the reasons why you should be looking to buy here and especially in this region of Hua Hin.
Our new office, conveniently located opposite the Amari hotel near the Cicada and Tamarind markets, is always open for discussions, whether you’re a buyer or seller. Our team is here to provide clear, straightforward advice over a hot cup of coffee in a comfortably cool setting.
A small note to finish on, those of you that follow social media and see the negative ‘never buy’ comments can rest assured these ‘dream-wreckers’ have never owned property here.
Please come and ask the expert.
Thank you for reading once more.
Yours sincerely,
Andy Dyett
The Hua Hin Property Expert
📧 andy@huahinpropertyagent.com
📱 huahinpropertyagent
📞 0867779064
🌐 https://www.huahinpropertyagent.com/
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