Development unabated at Cha-am and Hua Hin

Prime Nature Luxury Villas

Prime Nature Luxury Villas

Land prices rise as huge projects leave drawing boards

Land prices in the burgeoning beachside locations of Cha-am and Hua Hin, in adjoining Phetchaburi and Prachuap Khiri Khan provinces, continue to rise at an annual rate of between 5 and 10 per cent, despite the sluggishness blanketing much of Thailand’s property market.

Thai Nordic Property’s managing director Jatuporn Cherbangkaew said that land prices in Hua Hin, especially near his company’s Black Mountain Golf Club, had continued to rise following completion of the project’s infrastructure.

“We bought the land four years ago for Bt100,000 per rai. Two years ago, the price had risen to Bt400,000 per rai. Now, it costs Bt2 million per rai,” he said.

Demand for land in Hua Hin began to rise when the government announced plans to build a new road linking Bangkok and Hua HinDemand for land in Hua Hin began to rise when the government announced plans to build a new road linking Bangkok and Hua Hin. At present, the road journey from Bangkok to Cha-am or Hua Hin takes up to two and a half hours, and that has enhanced the perception of the area as a vacation destination.

According to survey by The Nation early this week, residential projects have been launched in the area over the past two years with a market value totaling tens of billions of baht.

The Prime Nature Group has developed a luxury condominium worth Bt700 million on 2.5 rai of land called @Prime Nature Hua Hin, with prices starting between Bt4.9 million and Bt24 million per unit.

Ocean Property is planning to launch a luxury villa project in Hua Hin this year with a value of Bt800 million, after successfully opening its Asara Villas and Suites at Hua Hin last year.

TCC Land, a property arm of beverage tycoon Charoen Sirivadhana bhakdi, is negotiating with investors from the Netherlands and Australia to develop 10,000 rai (1,600 hectares) of land it owns at Cha-am. Work is expected to begin on project infrastructure this year.

The company’s director, Soamapat Trisorat, said the concept for the giant project was mixed-use, dividing the land into three sections.

One-third of land will be developed as a residential project including resort-style villas and detached houses located close to a lake. It will also have a luxury hotel and resort, and a serviced industrial estate.

The second one-third will see the development of four or five 18-hole golf courses and the remaining one-third will become a large lake and green area.

The company will begin the project infrastructure this year at a cost of about Bt1 billion. This will include main roads and formation of the lakes. Further expenditure will depend on investors wishing to put money into the project based on TCC Land’s concept.

“We believe that Cha-am and Hua Hin will become prime vacation destinations, so we are expanding our investment in the area,” Soamapat said.

About the author

Somluck Srimalee Somluck Srimalee
Somluck Srimalee is a journalist with The Nation, Bangkok's independent English language newspaper and specialises in the property and real estate sectors.
Other posts by Somluck Srimalee ( 63 )

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