Thinking of buying Hua Hin Property ?
05.12.08 - 10:17pm
Thinking of buying Hua Hin Property ? The number of condos in Hua Hin compared to 2-3 years ago is tremendous. How did this happen? Many house buyers were setting up a company with 51% Thai shareholders as a means to transfer land so as to build or buy homes. Thus the company was not set-up as a company for profit but rather as means to acquire the land. The Foreign Business Act was not intended for this purpose. The Thai government began to enforce the law, No Foreigners Can Own Land, and it became next to impossible to do land transfers at the Land Office. This is how the market shifted from house building to condo buildings. As long as 51% of the condos are owned by Thais, the other 49% can be owned by foreigners. Due to high demand by foreigners who want to live here part or full time, the simple solutions by many developers was to build more condos. This shift in the market due to the enforcement of an old law gives you the renter or condo buyer many more options in choosing a property for your needs. In addition this also benefits you because more competition among the developers will cause the condos to be reasonably priced due to a higher volume of condos for rent or sale in Hua Hin.