Under the agreement HHPC will open multiple offices in Prachuabkirikan Province starting with an HQ office in the Royal Resort City of Hua Hin, Thailand.
Previously, in 2008, Exotiq Real Estate had signed a joint venture with Siam Property for the coverage of the Hua Hin market. However, this arrangement was cancelled after the ownership of Siam Property changed hands at the beginning of this year.
Russ Downing, Managing Director of HHPC was formerly associated with Siam Property, heading up their International Sales and Marketing efforts. “In this economy there is so much opportunity to be had” said Downing, “Thailand and Hua Hin in particular are poised to be the benefactors with so many investors no longer interested in the meager returns paid by their financial institutions. Savvy investors are coming to Hua Hin to purchase property that will not only appreciate in value but also provide a rental return far greater than the interest paid by their banks”.
Downing went on to say “In every crisis people need time to assimilate, get comfortable and move on. When the oil crisis hit us last year and oil was spiking to an all time high, so called experts were predicting oil to hit 300, 400 even 500 dollars a barrel. People were spooked; no one was interested in buying anything. Then as history has always shown us people assimilated the situation, realized they were going to pay more for oil but that life would go on and they still had money and they still had dreams. The same has occurred with this financial crisis, people have assimilated the news, are no longer scared by what they are hearing and are ready to invest again, website inquiries are up and sales activity has increased.”
“We are delighted to be able to build on the foundations set by Siam Property last year by welcoming Russ and his team back into the Exotiq family” commented Angus Maclachlan, CEO of Exotiq Thailand. “This area of Thailand has enormous potential for holiday and retirement home purchases and fits into our network very nicely. Prices in Hua Hin are lower than in Phuket or Samui and it’s close proximity to Bangkok makes it a very attractive beachfront destination.
Hua Hin is the sixth location for Exotiq Real Estate in Thailand. Since 2007, agencies have opened in Koh Samui, Pattaya, Koh Chang, Krabi and Phuket. In Chiang Mai, Exotiq have an associate broker deal with Jasmine Homes.
Exotiq also recently opened an interior design and furnishing showroom in Hua Hin under the ‘Exotiq Living’ brand.
For more information contact:
Angus Maclachlan +66 83 116 2852; amaclachlan@
Russ Downing +66 84 387 5699; rdowning@exotiqrealestate.com
Gregory Love +66 86 087 6926; greg@exotiqliving.com
