Bangkok condos: Thong Lor is the priciest

Bangkok condos
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Capital gains seen in Bangkok condos along Sukhumvit have risen by an average of 50 percent during the past five years.

Thong Lor saw the highest capital gain at 66 percent, with Ekkamai close behind at 61 percent.

Real estate firm Nexus Property Marketing also revealed the price rise in Sukhumvit condos was highest in Soi 39 / Thong Lor, where prices have risen by as much as 40 percent to THB 255,000 per sqm.

Average prices on new condo units in central Bangkok is now THB 208,600 per sqm, according to the firm.

Thong Lor was again identified as the priciest areas – at THB 315,000 per sqm with Chitlom / Langsuan at THB 262,000 per sqm and Sathorn at THB 243,000 per sqm.

Rental yields for units purchased five years ago is, on average, 6.1 percent, according to Nexus. Ekkamai, at 7.7 percent, leads the way with Phahon Yothin in second at 7.2 percent.

Rental rates for luxury Bangkok condos in central Bangkok and its suburbs saw an average of THB 754 per sqm per month. Again, the Thong Lor area, at THB 1,000 per sqm per month, was noted by Nexus as being the most expensive.

Per sqm rental rates between one- and two-bedroom luxury Bangkok condos varied little, Nexus reported.

In Thong Lor, a one-bedroom units ranged from THB 43,000 per month to THB 52,000 per month, according to Nexus.

In the outskirts of the city, which is did not define geographically, it said rentals for a one-bedroom condo were between THB 19,700 and THB 33,000.

Any search for Bangkok condos will reveal units at significantly lower prices, even as little as THB 6,000 per month.

But for that you should not expect a big unit, nor one that enjoys easy connections to the Bangkok mass-transit network.

Nexus predicted that over the next three years, the prices of Bangkok condos is expected to grow between an average of 8 percent to 10 percent per year.

It added that rental prices of Bangkok condos will increase between 12 percent and 15 percent.

Nexus also acknowledged growing foreign interest in Bangkok condos, and said that wealthy Chinese investors remain interested in investing outside their country to diversify risks.

It also noted how Thailand’s property developers are increasingly marketing their property developments overseas, as well as opening offices.

The current frenzy surrounding Chinese buyers, and foreign buyers in general, is not new. Chinese buyers first started investing in Thailand property in big numbers more than five years ago.

Andrew Batt
The author of this article is Andrew Batt, the founder and editor of www.thailandproperty.news. Andrew has been writing about property and real estate issues in Thailand and Southeast Asia for more than 10 years. He has worked for PropertyGuru Group, DDproperty, Dot Property Group, Hipflat and AsiaRents. He has also produced content for leading Thailand property developers and real estate agencies.
Email: andrew.thailandpropertynews@gmail.com.

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