Buying a condominium in Hua Hin
Hua Hin is one of Thailand's most beautiful holiday destinations. Located just 200 kilometers south of Bangkok, it offers breathtaking sunrises over the Gulf of Thailand.
The streets along the coast offer visitors a tranquil, authentic atmosphere. Right behind the inviting restaurants, you can watch fishing boats on the beach. It doesn't get any fresher than that. In the evenings, markets beckon for a stroll, and there are numerous cultural attractions to discover.
Although Hua Hin is popular with tourists, it is also a sought-after location for foreigners (and Thai nationals) who want to buy a holiday home or settle permanently.
The area offers a diverse selection: some people prefer condominiums right on the beach, while others prefer living in villas in the nearby, lushly vegetated hills.
There are many options when buying property in Thailand. Some options are more complex for foreign owners. In this article, we focus on buying a condominium.
We will explain the ownership rights, the purchase process and the legal procedures, and highlight popular areas and developments available to foreign investors.
How Covid-19 has changed our view of travel
Travel changed in 2020 due to the impact of Covid-19. Many people felt trapped and isolated because they couldn't leave their local area. Travel to distant countries seemed impossible.
A sense of normality is returning in 2022, but spontaneously getting away for a week remains difficult. Travel nowadays requires some planning, and longer vacations are becoming increasingly common.
This shift in mentality is changing the way we visit the places we love. If you now need more time to travel, owning your own piece of Thailand is a worthwhile investment.
What is the market like in Hua Hin at the beginning of 2022?
A recent survey conducted by real estate service providers in the region concluded that supply and demand in the real estate market in Cha-am, Hua Hin and Khao Tao were slow but stable in the second half of 2021.
Of the 28,055 available condominiums/apartments, 20,571 were sold. This corresponds to a sales rate of 73% in 2021, similar to 2020.
The average asking price for beachfront properties rose by around 2% during 2021, but forecasts for early 2022 remain stable. This figure naturally depends on the economic recovery and the rebound in tourism following the Covid-19 pandemic.
It may sound paradoxical, but now is a good time to fulfill your dream of owning a home in Thailand. If you've already experienced the Thai way of life and want to make it your permanent lifestyle, a stable real estate market and a wide range of properties are ideal.
If you are looking to invest in a long-term holiday destination with potential rental income, now might be a smart time to buy, as tourism is recovering.
Important questions to ask before buying
If you are an experienced real estate investor, you know that there are many steps to take from the initial thought of "I want to buy a property" to the completion and handover of the transaction.
If you're looking to buy your first property, you'll need all the help you can get, especially in a foreign country like Thailand. Don't worry, there are experts who can make the process easier for you.
The sight of the properties and the magnificent sea views will delight you, but you should ask some important questions beforehand.
"What is the purpose of my purchase?"
Are you looking for a holiday home you can return to every year? Or an investment property that generates income between your holidays? Are you ready to move to paradise and make your dream of living there forever a reality?
"What type of property do I want to buy?"
In Hua Hin, there are many different types of properties for sale. You can buy a beachfront condo, an apartment, a townhouse, a villa in the hills, or even a house.
Each type of property has its own ownership rights and clauses, which we will examine in more detail below. We will focus on the popular option of condominiums, as these offer the widest selection, are the easiest to acquire, and provide the highest level of legal ownership security.
"Do I want to buy an older condominium, a new condominium, or invest in a new construction project and buy off-plan?"
This is an important question to ask yourself when setting your budget and timeframe.
Only a few Thai banks offer real estate financing to foreigners. As a foreign investor, you will therefore need equity capital, either from savings or the value of your property in your home country.
With so many options available, it's easy to have big dreams and overextend yourself. You need a realistic budget that you can stick to. Your budget will determine your decisions.
"Do I need the help of a real estate agent and a real estate lawyer?"
Yes! Regardless of your experience, remember that you are buying a property in a country with different laws, regulations, and cultures.
In fact, we will explain the services of these professionals in more detail before delving into the purchasing process and legal aspects. Regardless of the complexity of the topic, once you understand how a real estate agent and a lawyer can assist you, you will enter the Thai property market with confidence.
Your real estate agent
In Thai culture, reputation and saving face play a vital role. A trustworthy agent is your language and cultural mediator and worth their weight in gold.
A competent real estate agent knows the best existing properties and upcoming construction projects. They have a diverse network throughout the city.
A reputable real estate agent works in the best interests of both you and the seller.
An efficient agent saves you time and money.
Once you have a clear vision of your future condominium in Hua Hin, your real estate agent will get to work. They will review the properties you've found, ask the right questions, and either eliminate further properties or offer you unlisted alternatives.
Your real estate agent will arrange viewing appointments and transport options and can provide you with information about the history of the buildings, developers, managers and the area.
They translate for you with the sellers to negotiate prices and terms of purchase. This saves you time in your search.
Your real estate lawyer (lawyer for notary services)
If your real estate agent is worth silver, then your lawyer is worth gold.
A trustworthy law firm saves you time, avoids frustration, and helps you prevent potential financial losses or legal disputes. They are the experts.
A reputable law firm maintains impartiality within the framework of the law while simultaneously protecting your interests.
What does your lawyer do?
During the purchasing process, they will:
The due diligence review includes research into the background and history of the sellers, the developers, the buildings, as well as possible legal complications related to the points mentioned above.
Conducting property searches. This includes confirming that the ownership details match the land registry records; that the seller is the legal owner of the property and entitled to sell it; and that there are no existing mortgages, liens, debts, or legal proceedings against the property.
Contracts (purchase and sale agreements) should be legally reviewed to ensure that all details are accurate and fair to both buyer and seller. Unlike Western contracts, which are often dry, detailed, and numerous, many Thai contracts focus on the relationship between buyer and seller. They could be described as a "gentlemen's agreement" or "handshake agreement."
Unfortunately, this means they may be omitting important terms or clauses. Your real estate lawyer will translate the most important terms for you and give you recommendations on what you should include to protect your interests.
Coordination of money transfer and payment. In any real estate transaction, money is the most important aspect. We will explain this in more detail later, but your lawyer will confirm which amounts are due (including registration, late payment clauses, and fees), which party bears the costs, and how the payment will be made (payment schedule).
Your lawyer will ensure that all payments and timeframes are fair for both parties and will carefully review all hidden or ongoing costs with you.
Accompany your lawyer to the property transfer and registration at the Land Registry. Your lawyer will receive and hand over all relevant documents during the transfer. They can then act as your contact person at the Thai Land Registry to register and submit all documents and pay the fees and taxes as stipulated in your contract.
Protect your assets. A trusted law firm can help you plan for the future. What happens in the worst-case scenario of your death?
We often draw up a will in our home country to ensure our assets are protected after our death. Thailand does not recognize foreign wills, and they can be contested in court.
Thai lawyers can assist you in drafting a will valid in Thailand. While this is not part of the purchase process, it is an important aspect often overlooked when it comes to protecting assets and providing for a spouse or dependents.
You have now asked yourself some important questions and better understand what help is available to you.
Let us look at the purchasing and legal process involved in acquiring your new dream apartment and present you with some of the best offers.
How can I legally acquire property in Thailand?
It is important for foreign investors to understand the different forms of property ownership. These different ownership types determine the legal process and security of your purchase, especially in a resort town like Hua Hin.
Freehold – Foreigners can purchase a freehold property in Thailand in their own name; the Thai Land Registry issues a title deed similar to a condominium title, and freehold properties can be used as security in Thailand.
Condominiums offer ownership rights (or lease rights) and are the easiest and most popular way for foreigners to invest in Thai real estate.
Lease – A foreigner may own or have a usufruct of a physical building (a property), but the land on which it stands belongs to a Thai national or a Thai limited liability company.
They then lease the land for up to 30 years, with the option to extend the lease to up to 90 years.
During the term of the lease agreement, the landowner is responsible for the maintenance of the buildings and the property.
The lease agreement is registered with the Thai Land Registry, and if the property is sold during the term, the new landowner takes over the lease agreement.
In areas like Hua Hin, it's advisable to inquire about the local leasehold system. In other regions of Thailand, such as Chiang Mai, most apartments are sold as freehold properties, but due to Hua Hin's touristy nature (see also: Pattaya and Phuket), many apartments there are sold as leasehold properties.
Thai Limited Company – Land and buildings can be acquired through a Thai Limited Company.
A foreigner can be a shareholder in the company, but the company must have at least two Thai nationals as shareholders who hold the majority of the shares (51%).
The company then leases the property as described above.
What types of real estate can I buy?
Our focus is on buying a condominium, but we will also summarize the different types of real estate available for purchase in the Hua Hin area.
Condominium – A condominium is a building with private and common ownership. The owners of a condominium own the property through a legal entity that manages the condominium. (The Condominium Ownership Act – the Act on Jointly Owned Residential Property of 2522).
Simply put, a condominium is a residential unit that is part of a larger complex. The owner has full ownership of their private apartment and a share of the common areas of the building.
In Hua Hin (and other parts of Thailand) you sometimes hear the term "affordable" condominium. However, this says nothing about quality or location.
These condominiums are sometimes smaller (studio or one-bedroom apartments) and not suitable for families. A more affordable condominium may not be directly on the beach or in a prime business location, but is often just a short walk away.
They are still equipped with modern appliances and amenities and may also have modern facilities and security measures.
Even in the lower price segment, condominiums can offer remarkable value for money, especially for those with a limited budget or who want to try out the Thai real estate market for the first time.
Apartment – An “apartment” is a condominium unit that cannot be purchased outright by foreigners. Apartments are sold exclusively as leaseholds and are subject to Thailand’s 30-year leasehold regulations.
When searching for potential properties in Hua Hin, pay attention to this detail.
At first glance, condominiums and rental apartments seem similar. They offer the same living space, the same fees, and the same responsibilities for common areas. Owners enjoy the same amenities and comforts, but they are not the sole owners.
Resort Condo – A higher-priced condominium in a resort that can be purchased with full title.
These modern resorts often include more exclusive communal areas such as cafes, upscale fitness centers, infinity pools, and expansive gardens.
Mid- to high-priced resort-style condominiums cost between 3 and 15 million baht, depending on location, living space and amenities.
Resort-style condominiums are popular with investors who are looking for an investment rather than a primary residence. New construction projects often offer guaranteed rental income for the first few years.
Luxury condominiums and penthouse apartments – A condominium complex for buyers with sufficient capital who are looking for only the very best.
Luxury condominiums offer a wider range of styles and features. Some properties resemble a villa, others a luxurious penthouse with a roof garden, terrace, and private pool.
As part of a complex, these luxury apartments offer high-quality communal facilities such as fitness centers, pools, restaurants, and grocery stores. Residents benefit from top-notch management teams and services.
The developer can also offer the investor rental guarantees.
Villa – Villas are classified as residential buildings and are therefore subject to the same ownership and purchase laws as houses and land.
The defining characteristic of a villa is its exclusivity. It is often located in a gated community and shares facilities (pools, restaurants, gyms, etc.) with other owners. A villa gives you the feeling of living in a holiday resort around the clock.
During the purchase process and in the contract, there are further details to consider, such as obligations regarding common areas and the house rules. However, here too, the right legal advice simplifies the process, protects you, and helps to avoid potential financial risks.
Many people who settle in Hua Hin long-term prefer to buy a villa in the outer hills.
Terraced house – A terraced building with two or more floors. The Thai version is called a "shop house" because the ground floor contains a shop and the upper floors are the living quarters.
Townhouses and commercial buildings are widespread in Thailand. This architectural style is frequently seen during walks along the beach promenade and in the suburbs of Hua Hin.
These properties are attractive for foreigners with Thai spouses who want to be fully integrated into Thai life. Thanks to the smaller plot size, taxes are lower, while still offering spacious living quarters and the opportunity to generate income by establishing a Thai company in the retail space.
House & Land – It is possible to own a house in Thailand, but the process is more complex.
Under Thai law, foreigners cannot own land. Any structure built on it is considered part of the "property".
Don't let that discourage you. There are various ways to build and own a house. The three most common are:
In all these cases, you do not own the land on which you are building, but you do own your house.
If you want more space for children and pets, or would like to build a house in a quieter area, it is possible, and with the right legal support, it will be easy.
Should you buy an existing, a new, or a condominium still under construction?
Due to current market trends and the scarcity of available beachfront properties in Hua Hin, no new construction projects are currently planned. However, it is advisable to explore different purchasing options when planning your budget.
Pre-owned condominiums offer a wide variety of options and locations. Since they aren't brand new, you're sure to find one that fits your budget. Existing condominiums typically come with an established management team and legal counsel.
Newly completed – the feeling of being the first to walk through the door. A newly completed condominium features modern appliances and furniture.
Property developers are legally obligated to rectify all defects and carry out necessary structural repairs within the first five years after completion. This offers you a certain degree of security when buying a property.
Buying off-plan – Purchasing apartments in new construction projects off-plan carries risks and advantages.
Projects that have not yet been built often have a longer payment plan, with the final payment only due upon completion. This gives buyers time to save.
Property developers often seek investors for their projects and may therefore offer a competitive purchase price. However, since they are working with a limited budget, they may not be willing to negotiate the price.
49% of the condominiums are reserved for foreign buyers. If you buy an apartment off-plan, you know you are eligible to purchase it.
A common risk is: "What happens if the project is not completed?"
It is absolutely essential to seek legal advice before signing a purchase agreement for a house that is not yet completed. Your lawyer will ensure that all relevant conditions are met in case the developer (or you) cannot fulfill the contract.
Another important point is the furnishings. New construction projects usually have a model apartment. However, not all apartments are furnished and equipped with household appliances. Therefore, be sure to clarify whether the furnishings are included in the contract price or whether there are additional costs.
How do I buy a condominium in Hua Hin?
Do your homework
The internet offers a wealth of information. Your own research will help you discover areas, price ranges, developers, and points of interest. This will give you an overview of the current market offerings.
Using keyword searches (nature, beach, history, nightlife, gastronomy) you can discover areas that offer what you are looking for.
During this phase, think back to the questions you asked at the beginning. Your answers will help narrow down your search queries and keep you realistic.
You should not only keep an eye on the plots of land you want to buy, but also on other development plans. These include, for example, planned construction projects or infrastructure improvements. However, this is not as important in Hua Hin as it is in Phuket, for example.
Here are some popular real estate portals to help you get started:
Below we present some popular areas, their highlights and attractions.
Find your real estate agent
As soon as you can envision your future condominium in Hua Hin, you should secure the help of an initial expert.
By evaluating your research and asking the right questions, you can eliminate objects or offer unlisted alternatives.
Your real estate agent will get to work immediately. They will negotiate viewing appointments and transportation options and can provide you with information on buildings, developers, property managers, and areas.
They translate for you with the sellers to negotiate prices and terms of purchase. This saves you time in your search.
Once you have found your piece of Thailand and are ready to sign a contract, DO NOT sign the dotted line.
It's time to find your second expert.
From the above, you have a good overview of what your lawyer will do for you.
As experts in Thai law, they will now conduct due diligence and property searches. They will review your contract to ensure it is advantageous for both buyer and seller, and, if necessary, add, amend, or remove relevant terms or clauses.
Your lawyer will confirm the payment terms and the disbursement of funds at the time of the property transfer. Once this is complete, they will participate in the transfer and register your new title with the relevant Thai land registry office.
A contract review is of utmost priority if you want to buy a property off-plan.
Pay your deposit and sign the contract.
Before you pay any money, please note that as a foreign investor you must provide proof that your purchase funds originate from abroad.
All funds must be in foreign currency and have clear proof of the origin of the funds (withdrawal from the originating bank), the purpose of the funds (purchase of a condominium) and proof of currency conversion in the recipient's Thai bank account (foreign exchange form).
Your contract lists the amounts and deadlines for all payments. This includes the deposit, the remaining balance, any applicable government fees and taxes, and the respective payers.
A summary of your payment plan
When buying a property off-plan, the payment schedule may differ, with several payments due at specific construction phases.
When calculating government fees and taxes, a property is assigned three different values:
Transfer fee: 2% of the registered value of the property.
Stamp duty: 0.5% of the registered value. Only payable if exempt from trade tax.
Withholding tax: 1% of the market value or the registered sales value of the property (whichever is higher if the seller is a company). If the seller is a private individual, the withholding tax is calculated progressively based on the market value of the property.
Business tax*: 3.3% of the market value or the registered sales value of the property (whichever is higher). This applies to both private individuals and companies.
* This tax is payable if the property has been owned by the owner for less than 5 years, which is often the case with new construction projects.
settlement
Your lawyer will represent you during the property transfer. The final documents will be signed, the funds disbursed, and the keys handed over.
Before ownership can be transferred for completed new construction projects, the Thai government and environmental authorities conduct assessments before issuing the new title deed.
Registration of ownership
After the transaction is completed, all documents must be registered with the local Thai land registry office.
Your lawyer will handle the registration and payment of all applicable fees.
Who pays which fees?
Where can you shop in Hua Hin?
Now that you know what to consider when buying a property in Thailand, let's take a look at popular buying areas in and around Hua Hin.
Developments: Currently, no new construction projects are planned in Hua Hin. Beachfront properties are almost completely unavailable. While there are some beachfront properties in Cha-am, no new projects have been announced for 2022.
There are currently projects in the planning phase, with completion planned for 2023/24.
We will explore each area and its attractions. For each area, we will present one existing and one new condominium.
Hua Hin
Available – Marvest
Completion: 2019 Units: 336 Developer: Major Development Estate Co., Ltd. Price range: €2,400,000 – €3,000,000
Located directly on Phetkasem Road, a major commercial area in Hua Hin, the property is surrounded by numerous restaurants and shopping centers. The Great Night Market is 350 meters away, while the Cicada Market and Tamarind Market are each 3.7 kilometers away.
In keeping with the concept of "Living on a new level in Hua Hin," the floor plan impresses with its well-balanced proportions. Thanks to the use of high-quality materials, residents can relax in their private retreats amidst captivating nature and vibrant colors.
The complex includes a 50-meter swimming pool and a children's pool, a waterfall curtain, a whirlpool, a garden and a playground, a fitness center, parking spaces in the lobby, and 24-hour video surveillance.
New – La Casita
Completion: 2019 Units: 705 Developer: Sansiri Price range: €2,000,000 – €14,000,000
La Casita is a luxurious Spanish holiday apartment in a sought-after location in the center of Hua Hin.
The harmonious interplay of pastel shades and dimensions lends the project's architecture a unique touch. The lobby, adorned with tiles, arches, and hand-painted murals, exudes a classic, warm atmosphere – like a home filled with happiness and love.
The apartments are furnished and have a built-in kitchen.
The complex includes a lobby, elevators, a leisure garden, a children's playground, a communal pool, a children's pool, a barbecue area, Wi-Fi, 24-hour video surveillance and parking.
Unscheduled – Mira Monte Hua Hin 94
Completion: Dec. 2024 Units: 136 Developer: Thanthara Development Co., Ltd. Price range: 1,700,000 – 5,300,000
Mira Monte redefines luxury living in the heart of Hua Hin. Major shopping centers, beaches, and amenities such as Hua Hin Market Village, Bluport Shopping Centre, Vana Nava Jungle Water Park, Khao Hin Lek Fai, Royal Hua Hin Golf Course, Hua Hin Beach, Khao Takiap Beach, and Bangkok Hospital Hua Hin are all within easy reach.
Mira Monte impresses with its beautiful and modern design and offers a variety of room categories, from studios to two-room apartments. All rooms feature fully equipped kitchenettes.
The project includes a lobby, a communal pool, a children's pool, an outdoor children's playground, a hot tub, a coworking/meeting room, a barbecue area, a vegetable garden, gardens, a running track, 24-hour video surveillance and parking spaces.
Nong Kae
Existing – Havana
Completion: 2020 Units: 652 Developer: Sansiri Price range: €2,800,000 – €10,500,000
La Habana's concept, "The cheerful colors of Hua Hin," offers residents relaxation and enjoyment at the highest level. The design reflects the Spanish colonial style and is located in one of Hua Hin's best locations.
Located just 250 meters from Hua Hin beach, surrounded by entertainment options and local amenities such as the Cicada Market, the Hua Hin Tamarind Market and leading 5-star hotels.
The project includes a lobby, a communal pool, a children's pool, a garden and outdoor recreation area, a hot tub, a playground, Wi-Fi, 24-hour video surveillance and parking.
New – My Style Hua Hin 102
Completion: 2020 Units: 214 Developer: Huahin Supsiri Property Co., LTD. Price range: 2,700,000 – 11,300,000
A stylish condominium with functional and spacious rooms. It is located in a prime location in Hua Hin, just 2 minutes from the Blue Port shopping center and 5 minutes from Hua Hin Beach, where you can enjoy breathtaking sea views.
The complex includes a large whirlpool pool, a fully equipped fitness center and a lush garden.
Off-Plan – Sasara Hua Hin
Completion: September 2023 Units: 110 Developer: Issara United Co., Ltd. Price range: 5,500,000 – 51,400,000
First-class beach views on the shores of Khao Takiap Beach. Local markets and restaurants are in the immediate vicinity, and many attractions are within easy walking distance.
There isn't much promotional information about the project, but the pictures look beautiful.
The project includes a lobby, a communal pool, a children's pool, a gym, a barbecue area, 24-hour video surveillance, a shuttle bus and parking spaces.
Cha-am
Existing – Springfield Beach Resort
Completion: 2009 Units: 100 Developer: Springfield Group Price range: €3,800,000 – €45,000,000
In a prime location, just steps from Cha Am beach, residents enjoy breathtaking sea views amidst palm trees and lush greenery. The project impresses with its minimalist design.
There are good transport links and easy access to numerous tourist attractions and shopping opportunities, including the Springfield Royal Country Club, Family Mart Cha-Am and Big C Market Cha-Am.
The complex has a wide range of communal facilities, including a spacious swimming pool right on the beach with water slides for children, a bar, a restaurant, a fitness centre, a whirlpool, a sauna and 24-hour video surveillance.
Existing – Lumpini Seaview Cha-Am
Completion: 2018, Units: 989, Developer: LPN Development, Price range: €2,100,000 – €2,500,000
Immerse yourself in the comfort of a high-altitude holiday apartment with beautiful sea views.
Beautiful and luxurious furnishings emphasize the optimal use of every square centimeter. Each living unit is divided into a living room, bedroom, and kitchen.
The complex includes a large pool, a gym, lush gardens, a children's playground and 24-hour video surveillance.
Existing – Energy Coastal City
Completed: 2017 Units: 5997 Developer: Baan Rajprasong Price range: 1,500,000 – 7,500,000
This mega-project boasts a distinctive design that blends Western art with local flair. The residential units have been furnished with products from leading brands with meticulous attention to detail.
The project includes a luxurious communal area, large swimming pools, four standard-size bowling lanes, a fitness center, and a sports complex. There are over 30 sports facilities to suit different needs, including squash, tennis, basketball, badminton, snooker, saunas, a steam room, and cycling paths.
Offices of the County Administration (including address)
Even though a reliable real estate lawyer will assist you with the purchase and registration in the land register, it is helpful to know where your local land registry office is located. Here you will find a list of land registry offices in Phuket and their contact details.
Address of the Hua Hin Khiri Khan Provincial Land Office: GXG6+FRF, Nong Kae, Hua Hin District, Prachuap Khiri Khan 77110 Opening Hours: Mon-Fri 8:30 AM – 4:30 PM Telephone: +6632827772 Website: www.dol.go.th
Information overload – A summary
There is a lot of information above. Given the many options, here is a simple overview of how to proceed.
Real estate lawyers or lawyers specializing in property transfers
If you want to buy your dream property in Thailand, sound legal advice is essential. A qualified real estate lawyer familiar with Thai law will advise and support you throughout the entire purchase process and take care of all the formalities.
Siam Legal is a registered law firm with over 17 years of experience in real estate law. The team maintains offices in the major metropolitan areas of Bangkok, Chiang Mai, Pattaya, and Phuket and is intimately familiar with the specific conditions in each location.
You can contact the Siam Legal office at the following address:
Address: Two Pacific Place Building, 18th Floor, Unit 1806, 142 Sukhumvit Road, Klongtoey, Bangkok 10110, Thailand. Phone: +66 2 254 8900 Mobile: +66 84 021 9800 Website: www.siam-legal.com Opening Hours: 9:00 AM – 6:00 PM
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