{"id":25375,"date":"2021-10-04T07:20:45","date_gmt":"2021-10-04T00:20:45","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25375"},"modified":"2021-10-04T07:20:45","modified_gmt":"2021-10-04T00:20:45","slug":"new-residential-supply-in-thailands-beach-provinces-totals-314-million","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/new-residential-supply-in-thailands-beach-provinces-totals-314-million\/","title":{"rendered":"New residential supply in Thailand’s beach provinces totals $314 million"},"content":{"rendered":"

Hua Hin and Cha-am see a potential recovery next year after a slowdown since the arrival of the pandemic<\/span>\u00a0<\/span><\/p>\n

\"\"
New\u00a0residential supply scheduled to launch in Prachuap Khiri Khan\u00a0and\u00a0Phetchaburi in 2022 will total 2,261 units\u00a0worth THB10.6 billion (USD314 million). JKI14\/Shutterstock<\/figcaption><\/figure>\n

With Thailand\u2019s expected economic recovery and improved vaccination rate in 2022, Hua Hin and Cha-am’s\u00a0residential markets\u00a0are predicted to rebound next year following inactivity since H1 2020, reported Bangkok Post<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

Vichai\u00a0Viratkapan, acting director-general of the Real Estate Information Center (REIC), mentioned that key factors that would contribute to recovery in the western coastal provinces are economic recovery and a vaccination rate of over 60 percent.\u00a0<\/span>\u00a0<\/span><\/p>\n

New\u00a0residential supply scheduled to launch in Prachuap Khiri Khan\u00a0and\u00a0Phetchaburi in 2022 will total 2,261 units\u00a0worth THB10.6 billion (USD314 million). This is an increase from\u00a01,902\u00a0units worth THB8.7 billion in 2021.\u00a0<\/span>\u00a0<\/span><\/p>\n

The 2022 supply will evenly match\u00a0the\u00a0pre-pandemic\u00a0stocks, including 2,521 units in 2019 and 2,775 units in 2018. A sharp decline of 989 units was experienced last year.\u00a0<\/span>\u00a0<\/span><\/p>\n

Prachuap Khiri Khan is\u00a0where all the condo supply\u00a0is located in\u00a0Hua Hin. New condo supply launched during H2 2021 would total 1,325 units,\u00a0with 1,940 units in H1 2022, and 1,893 units in H2 2022.<\/span>\u00a0<\/span><\/p>\n

On the other hand, Phetchaburi is where most of the condo\u00a0supply\u00a0in Cha-am\u00a0is\u00a0situated.\u00a0New\u00a0condo supply launched in the first half of this year\u00a0totalled\u00a01,213 units, after no new launches since the second half of 2018.<\/span>\u00a0<\/span><\/p>\n

According to REIC,\u00a0new\u00a0residential supply launched in Prachuap Khiri Khan and Phetchaburi increased\u00a0by 49 percent year-on-year to 886 units in H1 2021.\u00a0<\/span>\u00a0<\/span><\/p>\n

The increase was partly due to a lower-than-normal base in the same period last year.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Thai urban buyers seek Hua Hin for a healthier and more active lifestyle<\/strong><\/a><\/p>\n

Low-rise houses marked the largest increase with a 51 percent jump, while condos rose 47 percent. However, the sales\u00a0value\u00a0of the new supply\u00a0decreased\u00a0by 51 percent.\u00a0<\/span>\u00a0<\/span><\/p>\n

Moreover, unsold residential supply in these two provinces would total 5,188 units worth THB22.9 billion as of the end of 2021, compared with 5,183 units worth THB23.8 billion in H1 2021.<\/span><\/p>\n

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The Property Report editors wrote this article. For more information, email:\u00a0<\/em>propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hua Hin and Cha-am see a potential recovery next year after a slowdown since the arrival of the pandemic\u00a0<\/p>\n","protected":false},"author":12,"featured_media":25376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2374,436,512,133],"class_list":["post-25375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-chaam","tag-hua-hin","tag-residential","tag-thailand","news_country-thailand","news_author-property-report"],"acf":[],"yoast_head":"\nNew residential supply in Thailand's beach provinces totals $314 million | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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