Bangkok’s high-end property sector, with its prime- and super-prime projects in the heart of the city, is predicted to be a challenging one.
Frank Khan, Executive Director and Head of Residential for real estate firm Knight Frank Thailand, attributed the challenging market conditions in Bangkok’s high-end sector to the fact that there is still supply available.
He said prominent locations of super-prime and prime residential projects include low- to mid-Sukhumvit from Asoke to Thonglor, as well as Ploenchit, Chidlom, Sala Daeng, Ratchadamri, Langsuan, Wireless and Sathorn.
These areas, he confirmed, will remain the main development areas for prime- and super prime supply due to their location and amenities.
In terms of unit sizes for 2018, Knight Frank noted one upcoming trend at Bangkok’s high-end seems to be two-bedroom and three-bedroom sector, with selling prices of more than THB 300,000 per sqm.
These elevated prices reflect limited supply of land in the central business district of Bangkok and the central Sukhumvit areas.
Khan added that it is interesting to note how branded super-prime and prime residences in Bangkok’s high-end property market use very high-end and valued architects, interior designers and branded furniture. as well as facilities designers.
Anchalee Kasemsukthawat, Director, Residential Department y Knight Frank Thailand, added that developers in Bangkok’s high-end have also chosen to focus on overseas activities, simply because sales from overseas buyers showed positive results during 2017 at all levels of the market.
However, most overseas buyers will focus on branded residences, Anchalee suggested.