Banyan Thailand, the largest integrated residential and active lifestyle community in Hua Hin, has reported a rapid increase in sales of its luxury residences, reaching a staggering 125 million baht in 2021. This surge is attributed to city dwellers flocking to purchase "vacation homes" or "second homes" in Hua Hin, a trend influenced by changing lifestyles and the progressive development of the area.

Mr. Chit Kwanth, CEO of Banyan Thailand Group, revealed that the transaction value of Banyan Residences Hua Hin, a high-end villa project, exceeded 125 million baht in 2021, surpassing the combined total of 2020 and the second half of 2019. This unprecedented challenge in recent months has seen over a quarter of buyers coming from Bangkok, seeking a new lifestyle and a "vacation home" or "second home" to escape the city and the COVID-19 pandemic. A notable shift among Thai buyers is their desire to live in resort towns that offer a high quality of life and outdoor spaces, allowing them to enjoy a healthier and more active lifestyle. Additionally, the rapid development of Hua Hin, including international schools, medical expertise, and infrastructure, has further fueled the demand for housing in the area.

Moreover, within the Banyan Thailand community, there is the Banyan Village project, which consists of 41 two-bedroom rental villas that have achieved a 90% occupancy rate since June 2021, with nearly all tenants being Bangkok residents looking to escape the city.

“The global COVID-19 pandemic has created several factors contributing to the increased demand for housing in Hua Hin. Personal health considerations have led many Bangkok residents to question the long-term impacts of city living, and the idea of returning to a natural environment is particularly appealing for families with children. Furthermore, the current situation has also led to changes in remote work culture, with homes becoming places for work, exercise, learning, socializing, and relaxation. Both the 'Banyan Residences' and 'Banyan Village' projects in Hua Hin meet the needs for quality living,” Mr. Chit stated.

According to a survey by FazWaz and Lazudi, leading real estate experts in Thailand, the average property prices in Hua Hin have increased in recent years due to reduced demand from foreign buyers, but this has been offset by rising domestic property prices, particularly for luxury villas.

Mr. Brennan Campbell, co-founder and CEO of FazWaz, stated, “Looking at the insights from Hua Hin, 64% of transactions are from the domestic market. The pandemic will have a lasting impact on what drives Thais to purchase real estate. In this rapidly changing era, Thai buyers are moving out of the city at a pace we have never seen before.”

Mr. Costa Chafwa, executive at Lazudi, commented, “Villas in Hua Hin offer value in terms of space, privacy, and amenities such as private pools and communal facilities within a gated area. When compared to the average property prices in other developed regions of Thailand, such as Bangkok, Pattaya, Phuket, and Samui, the affordability of Hua Hin is a significant differentiating factor.”

In summary, Banyan Thailand is a haven for relaxation, promoting a healthy lifestyle, privacy, safety, and a comprehensive range of activities, set amidst tranquil nature surrounded by lush green mountains. It includes Banyan Residences, a luxury residential project ideal for those seeking a second home or a strong investment in Thai real estate, and Banyan Village, rental villas with two bedrooms and a large lagoon pool. Additionally, Banyan Golf Club Hua Hin features an 18-hole golf course on 500 acres and a golf academy run by a world-class golf pro. There is also the Be Well Medical Center, a home clinic located within the project, along with 24-hour security and health and hygiene safety measures. Residents and guests at Banyan Thailand also enjoy benefits from the Banyan Privilege Club, including discounts at restaurants, beach clubs, water parks, sports centers, spas, leading medical centers, and much more!

For more details, visit www.banyanthailand.com or call 032 538 888, email [email protected]

Watch the interview with Chit Kwanth, CEO of Banyan Thailand Group, on “Business Insider” at https://youtu.be/-760RF3ZfZY