The number of new condominium units launched in Hua Hin this year is unlikely to exceed 4,000, as inventories in the local market remain abundant and demand for condos priced below 2 million baht is not large.
Most of the new condo supply launched in the past two years has been priced from 1-2 million baht a unit, said Frank Khan, executive director of the property consultant Knight Frank Chartered (Thailand).
"These units were located in two locations. One was an inland area with no beachfront due to the lower land prices away from the beach. Another was between Hua Hin and Cha-am, as there were more plots of land available for new development than inside Hua Hin town," he said.
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