There are now over 250 new developments happening on the island (January 2008) and much more to come as the land boom here is still in its infancy.
All developments are selling well and remarkable quickly and already many are sold out and the very same programmers moving on to new ones.
Why invest in HuaHin?
HuaHin is definitely becoming the new playground of Asia and although a little island (550 kilometres square) has every modern amenity including, international hospitals and schools, modern infrastructure and roads, broadband communications, beautiful beaches and landscape, the finest hotels and restaurants, international shopping malls, friendly welcoming people, relaxed living and little offense, and last of all a warm climate all year around. Several new marinas and golf courses are also being constructed.
How it works
When buying off-plan (as opposed to resale property) you put down a booking deposit to reserve the scheme, Villa, Condo etc. and then usually within 30 days after seeking legal advice and contracts being vetted and due diligence carried out, [Siam Legal Advice] you sign contracts and pay the first installment of anything between 15-30 percent of the sales price and the rest over a period in stage payments based on build completion until it is completed which is usually approximately 1 year hence for most developments.
By purchasing hua hin property you get the chance to purchase at up to 30% or more below market value. The reason you can save so much is the developers wish to attract early buyers who have no rush to occupy the property but realize the benefits and significant savings of buying early.
The above example shows that for a little outlay you can spread your payments over a year and receive a large capital gain even before you move in! Many investors do just that flip and sell the property shortly after completion.
However, it’s probably more difficult to hold on to it as with the prices increasing by 15-20% per annum plus materials inflation, Phuket property makes a very sound investment indeed over the longer term. You can even rent out the property and receive a rental income also.