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Hua Hin Rental Price Index 2023
Published September 25, 2023
Updated September 28, 2023
Hua Hin rental market in 2023 landscape is turning during the second half of 2023. While condos remain affordable at 22,000 THB median price, villa rentals saw over 50% price hikes in May and July, reaching 40,000 THB. With 110 condos but only 51 villas listed in Hua Hin, condos dominate supply. However, villa rentals overlook locations like Hin Lek Fai, with 39 villas compared to 8 condos available. Renters show strong demand for 1-bed condos 38 units in Thap Thai at 41,000 THB median rent. Meanwhile, Hua Hin City caters to studios and 1-beds from 18,000 THB. Let's analyze the numbers shaping property preferences and prices in Hua Hin.
Overview of Hua Hin Price Rental Changes 2023
The latest rental price reports show that Hua Hin has remained relatively stable in 2023 so far in quarter 2 and quarter 3. On the supply side, condo rentals decreased mildly by about 3.5% from April to July 2023 to an average of 11,785 THB. Villas saw impressive growth, increasing over 50% in May and July 2023 to an average of 22,355 THB. High demand and low villa supply provide some uncertainty.
On the demand side, Hua Hin real estate saw 145 total rental leads in Q2 and Q3, split between 62 condo and 83 villa leads. Europe made up 50% of leads, led by the UK and Germany. Domestic Thai demand was also strong at 128 leads.
Overall supply is dominated by private owners, making up 90% of listings versus 10% from developers. The blend of foreign and domestic demand and individually driven supply make for a balanced Hua Hin rental market. While condo supply softened, villa demand spiked over 50%, signaling an inventory shortage for owners and landlords, catering to European and Thai renters and quickly filling villa demand present opportunities amidst an otherwise stable market.
Price Trends of Hua Hin Rental in Q2-Q3 2023
With a substantial 94 condo units on the market, condos are the most demanded property type in Hua Hin. Their dominance is complemented by a median rental price of 22,000 THB, signaling condos as the go-to choice for affordability and modern living.
While only 54 house-project units are available, they command a higher price at 40,000 THB. House projects in Hua Hin underline their premium status in the market, catering to those seeking upscale amenities and community living.
Lastly, stand-alone houses, such as on the beachfront villa rents, are third in demand with 18 units and a median price of 28K. These properties offer a blend of privacy and affordability, fitting the needs of those who desire a work-life balance.
Different areas in Hua Hin cater to varied budgets. With its average rental price of 22,000 THB, Nong Kae is a haven for budget renters. In contrast, Thap Tai's 41,000 THB average indicates its position as a more upscale district in Hua Hin. Hua Hin City, priced at 19,000 THB, offers great value, especially for those wanting proximity to urban conveniences.
Nationality-based preferences are evident. Belgians, for instance, show a strong inclination for house-project properties at 55,000 THB, while the Swiss demonstrate versatility, considering both 43,000 THB for stand-alone houses and 59,900 THB for condos.
Comparative Analysis of Q2 and Q3
The shifts between Q2-Q3 in successive years offer a glimpse into Hua Hin property rental market. We will unfold patterns that emerge, behavior shifts for renters, and what is the Hua Hin market responding and telling us. First, we will start with the Hua Hin rental market supply.
In the heart of Hua Hin rental market, condo supply and demands remain consistent. Average rental prices of condos are at 34,507 THB, respectively. On the other hand, the average cost of rental villas in Hua Hin is slightly higher at 39,181 THB.
In terms of sheer numbers, condos are undeniably the dominant property type in most sub-districts. For instance, Hua Hin City, known for its urban vibes, has 110 condos available compared to 51 villas for rent. However, Hin Lek Fai paints a different picture, with 39 villas available versus just 8 condos for rent. Such anomalies reveal that while condos might be popular for their convenience and modern amenities, certain sub-districts have a robust demand for villas, possibly due to their serene ambiance, larger spaces, or local cultural preferences.
Some sub-districts offer unexpected insights. With just 10 properties listed, Pak Nam Pran might seem insignificant. But its surprising villa prices indicate a hidden gem of a location, perhaps with unique offerings or an untapped potential for luxury rentals. It's a reminder that sometimes, the lesser-known areas provide the most intriguing opportunities or characteristics.
What about the other side? The behavior of renters looking into Hua Hin market. What is the main property type? And what price range do renters find for each property type?
For agents and developers, the story is clear - double down on massive Thai demand for affordable condos in Hua Hin's thriving downtown. But don't neglect European villa-seekers looking for luxury. And given tepid APAC interest, target Australia, Hong Kong and Singapore for marketing campaigns to drive more regional leads. The vibrant mosaic of Hua Hin's rental leads points to precise strategies for each customer demographic.
Drilling down, European interest skewed towards villas while the flood of Thai demand favored condos. British leads preferred villas 8 to 10, while the opposite was true for Thais at 49 villa and 31 condo leads. Germans mirrored this condo inclination, taking 4 condos to 5 villas. The mix of condo-loving locals and villa-leaning Europeans creates a heterogeneous rental landscape, offering opportunities to landlords with different property types.
Factors Affecting Hua Hin Rental Markets
They are primarily two main factors combining into higher demand in Hua Hin rental markets for 2023. First is the global influences and preferences of work-life balance. With the addition of work-from-home rules that each company has implemented. Who would not want to be on the beach and work with a coffee in their hand, surrounded by nature?
The second factor is the competitive market dynamics in Hua Hin.
Global Influences:
The evident preference shift towards houses in certain regions like Sam Roi Yot indicates global trends. During the pandemic, the global shift towards remote work and the desire for larger living spaces influenced renters to prioritize houses over condos. Moreover, expats from countries where spacious living is a norm might be influencing these trends, leading to both a change in rental prices and the types of properties being supplied. Nationalities from Great Britain, the Netherlands and Denmark prefer to rent houses with yearly average rental prices of 55,000, 80,000 and 20,000, respectively. It is because Sam Roi Yot is close to the beach for a relaxing environment to work from home.
Competitive Market
With near-equal listings between major sources, Hua Hin rental market is competitive. Such competition can lead to strategic pricing to attract renters, influencing overall market prices. Additionally, as many sources vie for dominance, they might partner with property developers or individual landlords to increase their property listings, thus affecting the supply in the market.
Prime Locations in Hua Hin
Wonder if you rent condos, which is the dominant choice of renters in Hua Hin. Or you decide to rent a house in Hua Hin because of the variety of listings. The first question to always ask yourself is, what location suits me? And the average renting price in our top three districts in Hua Hin to rent either a condo or a house.
Thap Thai:
Thap Thai emerged as the top district in Hua Hin rental market. With a median rental price of 41,000 THB and a considerable median list price of 50,000 THB, it is evident that this subregion is catering to a more affluent renter base. The price per square meter stands at 256.70 THB, suggesting spacious properties.
A deeper dive into the property types reveals a trend. The predominant preference is for single-bedroom units, with 38 available properties. Client behavior of 1 bedroom units indicates a potential market of solo renters or couples, possibly professionals or retirees, seeking premium accommodations.
Nong Kae:
Nong Kae offers a blend of affordability and quality. The median rental price is 22,000 THB, with a list price of 25,000 THB. However, the price per square meter, at 428.57 THB, indicates that while the properties are more compact, they are modern and well-designed.
The demand is led by single-bedroom units, with a supply of 14 properties, closely followed by two-bedroom units at 6. Nong Kae's demand and supply suggest a younger demographic, possibly working professionals or small families, seeking quality living spaces without breaking the bank.
Hua Hin City:
Hua Hin City, known for its urban vibes, offers properties at a median rental price of 19,000 THB. The median list price is slightly lower at 18,000 THB, with a price per square meter of 408.16 THB.
The city's heartbeat resonates with a younger crowd, as evidenced by the supply of 12 single-bedroom units. Studios follow closely with 4 teams, indicating demand from solo city dwellers, whether students, professionals, or even digital nomads.
For Landlords And Renters What Should I Do?
For Landlords
The Hua Hin rental market is brimming with potential. For instance, Nong Kae stands out with 299 property listings. A significant property listing is condos. The average rental price here is 38,752, higher than many other sub-districts. If you own a villa, the price shoots up to an average of 53,364! With such rental prices, it is evident that Hua Hin is a goldmine for property owners. Positioning your property in the right sub-district and leveraging the demand for condos and villas will maximize your rental income.
For Renters
Hua Hin City offers a balanced blend of affordability and choices for you to find property rentals. An average rental price of 29,863 makes it easier on the pocket than the posh Nong Kae. Plus, with a broad mix of condos and villas, you can choose a home that fits your taste and budget.
For more regions in Thailand rental price reports 2023. Follow the link for Chiang Mai price rental index 2023.
Search Hua Hin Rents Now
With new rental listings coming online daily, selecting Hua Hin properties for rent constantly changes. The best way to find your ideal beachfront condo or private villa is to search regularly updated rental sites. Narrow down searches by location, property type, size and budget to hone in on that perfect Hua Hin rental. Sign up for alerts when new matches come onto the market. Dynamic searching makes it easy to discover your dream Hua Hin rental.