As a company, we tend to plan around the quieter months of the year, with June usually being the slowest and September not far behind. However, this year has been a bit different. June was surprisingly strong, but September has been noticeably quieter. The reason? It all comes down to currency fluctuations.
Recently, the US Dollar has been struggling for various reasons, which has caused a ripple effect in many global currencies. The Thai Baht, which doesn’t typically react to international trends, has strengthened. Since June, some foreign currencies have slipped by as much as 10%. This has led some eager and ready buyers to become more cautious, visiting properties but hesitating to commit while waiting for a more favourable exchange rate.
So, who can take advantage of this situation? Sellers, especially those looking to transfer money out of Thailand. Lowering the price slightly during a period of a strong Thai Baht won’t affect the total amount received in a foreign bank, making it a smart move for sellers. This could be particularly beneficial as we head into the high season, from December through March, when the chances of selling are significantly higher.
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If you’d like to discuss how the exchange rate could impact the amount you hope to send overseas, feel free to make an appointment. We can help you understand how the final figure might be very different from what you expect.
Despite the slower period, we at Hua Hin Property 2009 Co. Ltd have been pushing ahead with some big changes. We’ve made significant updates to our main office in Khao Takiab and opened a new office at Black Mountain, headed by Mrs Zara Ritter. If you’re thinking about buying or selling property, come by for a chat and enjoy a coffee (or something stronger) while discussing your needs.
Andy Dyett, the Hua Hin Property Expert
We’ve recently worked with buyers who needed financial support, allowing them to purchase sooner with a few years of payments to help make it happen. We also arranged a rent-to-buy deal for another buyer, where they rented the property for six months, and if they decided to purchase it, the rent was deducted from the agreed sale price. Don’t hesitate to share your ideas with us, and we’ll do our best to find the right solution to help you settle in Hua Hin.
This month, I’ll be visiting Hong Kong with the family, combining business and pleasure. Many potential buyers are pleasantly surprised when they visit Hua Hin and discover the amenities and lifestyle available here. As residents, we sometimes forget how fortunate we are to live in such a great place. I’ve visited Phuket, Samui, and, more recently, Khao Lak, and it’s made me appreciate Hua Hin even more.
Visiting islands can be fun, with some nice views and beaches, but I often find the ‘ring road’ feel of island life gets old quickly. Khao Lak, while not an island, had decent hotels but lacked the infrastructure that makes Hua Hin such a great base. I often say that Hua Hin is the perfect hub. Sure, if you don’t travel for 12 months, even Hua Hin could lose its appeal – but wouldn’t that be true of anywhere?
From Hua Hin, you can easily reach so many new places within Thailand, whether they’re a couple of hours or half a day’s drive away. Plus, we’re not far from Bangkok, which is not only an amazing city but also a gateway to anywhere in the world. The grass isn’t always greener.
Yours sincerely,
Andy Dyett
The Hua Hin Property Expert
📧 andy@huahinpropertyagent.com
📱 huahinpropertyagent
📞 0867779064