If you are in the market for a Condo, Cha Am may be the place you can get an excellent deal.
The condo market in Cha-am still faces a glut, with the inventory of unsold units expected to take 10 years to be absorbed, while the Hua Hin condo market remains robust, says property consultant Colliers Thailand.
Phattarachai Taweewong, director of the research department at Colliers, said there is a huge volume of unsold condo units in Cha-am despite no new supply being launched since 2016.
As of the first quarter of 2024, the condo supply in Cha-am tallied 9,420 units worth a combined 42 billion baht, with a sales rate of 66%.
As a result, more than 3,200 units worth 14.3 billion baht remain unsold.
With so many units still for sale on the open market, there are currently no plans to build anymore new condos.
This could be the perfect market timing to pick up a deal on a condo as developers need to get these units sold.
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