Bangkok property hotspot; it’s Rama 9 again

Bangkok Property Hotspot
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It’s our belief that when a Bangkok property hotspot is revealed, the time has passed for buyers and investors to make any significant gains from it.

The fact is that identifying a Bangkok property hotspot before other investors is not easy and requires a thorough knowledge of market conditions.

The Rama 9 / Ratchada area has long been identified as a Bangkok property hotspot. Even last year one real estate firm were extolling the virtues of the area.

We can first remember writing about the potential of this area more than five years ago, yet one real estate firm has reported that, due to the development of many real estate projects in the area, it has become more of a Bangkok property hotspot, and become more livable at the same time.

Real estate agency Plus Property said the Rama 9 / Ratchada area: “… stands out as one of the few locations that have been undergoing changes to such an extent that demands attention.”

Whilst noting the launch of new office buildings, it also reported the area will see a great many people relocating to this zone as it becomes a new hotspot for jobs and completes its evolution into a new, central business district.

With Rama 9 / Ratchada becoming the Bangkok’s new central business district, desirable land near mass-transit stations are continually developed into high-end condominiums.

It noted the current price for new launches in the area is THB 200,000 per sqm, and these prices have risen between 10 percent and 20 percent during the past two years.

Although supply of new projects continues, Plus Property said the rate of sales remains decent with average take-up rates amounting to some 86 percent.

The Rama 9 / Ratchada area has also proven popular with Chinese property buyers and investors, with Plus Property naming the area as an “Urban Chinatown”.

“Chinese people residing in the Rama 9 / Ratchada area are members of a new generation of Chinese whose occupations include student, language teacher and business.”

“This area allows them to live close to the Chinese embassy, and offers convenient commuting choices, especially with the MRT’s ability to shuttle them to other zones and link up with other mass-transit routes.”

In summary, Plus Property said that from the investors point of view, the location remains attractive due to the influx of new residents, especially Chinese.

“These new residents provide demand for rentals and re-sales, and the investor can therefore make room purchases for both purposes,” is said.

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.

6 Comments

  1. Nick, thanks for your question. I (Andrew) write and edit most of the content but I do have other contributors now and again. ThailandProperty.News is not just about me though; hence I tend to use “we” more often than not. Personally, I’m not known just as much for this website as I am for anything else I’ve been doing in the Thailand property sector over the past 10 years or so.

    Keep in touch.

    Andrew.

  2. You keep saying “WE”… But I always thought ThailandProperty.news was just one person? Are their other writers with you now Andrew?

  3. Moes, thank you for your comment.

    The trick, in our opinion, is to identify hotspots before everyone else. When someone says an area is a hotspot it usually means the best units at the best properties are already sold. Rama 9 has been a “hotspot” for three or four years or more, and while there may be some good opportunities for investors, there are probably better places with more potential right now.

    Thanks again for taking the time to comment. It is much appreciated.

  4. It’s certainly interest Hotspot investor. Look this area has great returns and or excellent you know talk with developer for sales. Very nice article writing Andrew 🙂

  5. Thanks for your comment Reginald,

    The source of the claim is the real estate firm Plus Property, and WE have written about this location being a hotspot many times before. WE do occasionally make educated claims about potential areas for buyers and investors based on data and market knowledge, but these are rare because of the lack of real time data.

    We are sorry for the confusion, and offer our thanks for highlighting your concerns.

  6. Interesting article but I’m a little confused. Are you claiming Rama 9 is a hotspot or is Plus Property? The use of second-person is a little confusing. By “we” do you mean you and Plus Property? Just a minor quibble but as a reader this is important to understand.

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