Saladaeng: Better value than Sukhumvit

Saladaeng is one of Bangkok’s most-covered residential districts, and offers better value than the traditional expatriate favourite of Sukhumvit.

In a Saladaeng Spotlight marketing report Robert Collins, the Chief Executive Officer of Savills Thailand, wrote: “Its extensive food and beverage offering, coupled with direct access to both BTS and MRT lines, continue to enhance its appeal to owner-occupiers and investors seeking to take advantage of attractive prices and the diverse range of properties.”

“With 2017 witnessing strong demand for luxury Bangkok property, and with new flagship, mixed-use schemes due to come on-stream during the coming 24 months, Savills believes Saladaeng is well-placed to enjoy an uplift in residential sales and rental values.”

According to Savills, the Saladaeng district has never been so popular.

Its research of five selected condominium buildings showed average sales prices have increased by more than 70 percent since 2010.

Its agents noted that it is virtually impossible to find a condominium for sale in Saladaeng for under THB 150,000 per sqm, regardless of condition.

With occupancy rates at a record low, Savills said that competition for available units has increased.

A significant rise in interest has seen at the agency from international buyers who are keen to take advantage of Saladaeng’s unique combination of prime central business district location, BTS skytrain and transport links, international range of restaurants and café’s as well as the vibrant nightlife scene on Silom Road.

So why consider investing in Saladaeng?

Savills said that In the majority of cases, the range of residential accommodation presents better value on a per sqm basis than equivalent opportunities in Sukhumvit’s residential districts.

With some nearby condominiums in a different price bracket altogether, Saladaeng has become the prudent choice, according to the real estate firm.

Thai nationals accounted for 77 percent of owners, according to Savills with the remaining 22 percent being foreign nationals.

The majority of units are purchased as a main residence, Savills said, but this is closely followed by those who rent out their condominiums.

Saladaeng condominiums are popular with landlords because they are easy to rent and rarely have extended periods of vacancy, Savills added.

According to data from Savills, the average sales prices for condominiums in Saladaeng was THB 203,000 per sqm, with average sized of 105 sqm per unit.

Despite the agency’s data showing price increases of 70 percent since 2010 at its selected condominiums, its own chart below shows a slight dip in prices during 2017.