Many new condos emerge in Cha-Am and Khao Tao
Supply of condominiums in Hua Hin stood at 22,619 units at the end of the first half, according to property consulting firm Knight Frank's survey.
During the first half of 2013, there were approximately 4,517 units from seven condo projects being launched in the Hua Hin condominium market.
"The unit take-up rate was particularly bright, with approximately 2,489 units sold. The take-up rate has gradually increased to 52 per cent, with a total demand of around 11,395 units, as of the end of June," it said.
The largest number of new launches during the first half of 2013 was in the Cha-am area, with a total number of 3,022 units, or around 67 per cent of the new launches. Condo development continuously expanded in Cha-am from the previous year due to the considerable amount of land plots available for development. Four new projects were launched in Cha-am, including Baan Thew Lom, Rain Cha-am Hua Hin, Baan Thew Talay Phase 2, and Miracle Hua Hin.
The second-most popular location was Khao Tao, with a total number of 879 units, representing 19 per cent of the new launches.
Prices also went up sharply, from Bt96,944 per square metre by the end of 2012 to Bt103,072 per square metre in the first half of this year.