Some parts of the outskirts of Bangkok, especially from On Nut to Samrong, and including Bearing, are certainly more on the radar these days for overseas buyers.
We recall an event in Singapore that was marketing a Phra Khanong property a mere five years ago, and the amount of geographic education required for that location was enormous.
Not so now.
Real estate firm Knight Frank found it its latest research that average selling prices per sqm for the popular Sukhumvit Sois from 1 through to 63, was THB 181,800 at the end of 2017.
This was a 15 percent year=on-year increase, it said.
“As a result [of the rising prices], many real estate operators have turned their attention to the outer Sukhumvit area, such as the outskirts from On Nut to Samrong given its prime location, initial land costs and supporting infrastructure.”
On Nut, Bearing and Samrong also boast decent connectivity to the Bangkok’s inner-city areas.
According to the real estate agency, the condominium market for On Nut, Bearing and Samrong, which covers the area from Sukhumvit Soi 77 to Theparak Road, and Sukhumvit Soi 50 to Phuchao Saming Prai Road, had a total cumulative supply of approximately 62,361 units at the end of 2017.
In terms of demand, condominiums for sale in the area have been well received by buyers in projects launched from 2010 to 2018, with an average sales rate of around 96 percent.
Focusing solely on new projects last year, average sales rates stood at around 65 percent, a slight decrease from the previous year.
When analysing sales prices in this part of the outskirts, and when compared with nearby Ekamai, average selling prices per sqm in On Nut, Bangna, Bearing and Samrong, were significantly lower.
Currently, Ekamai commands average prices of around THB 154,500 per sqm while On Nut, Bangna, Bearing and Samrong have average sales price per sqm of between THB 105,600 baht and THB 63,500 baht.
“This area is one that warrants attention, both in terms of the significant increases in condominium supply and demand in the near future,” said the firm.
It added its prediction that sales prices of condominiums in the area will have the tendency to increase steadily, but will remain moderate compared with prices in nearby areas such as Thonglor and Ekamai.