Best and Worst Areas To Purchase Properties In Bangkok

According to a survey by the Agency for Real Estate Affairs (AREA), Srinakarin has been identified as the best area to buy property in Bangkok in terms of value appreciation.

The company basically analysed data from over 1,600 project condominiums and townhouses, and they figured out that townhouses in this area substantially increased by 10% over the first six months of 2014 from average prices of THB2.014 million to THB2.224 million; thus making it the best investment to be made in town as of now.

Also, the condos in Bearing area enjoyed a growth of almost 10% as well from THB1.626 million to THB1.794 million on average.

AREA also reported that the best selling locations were located in Bang Phlat where 100% of new condos priced between THB1M and THB2M were sold within a month only. The Sukhumvit – Rama 4 area was also highlighted, where condos priced between THB3M and THB5M could record sales of 30% in one month, while condos priced from THB5M to THB10M could close 29% in the same timeframe.

In the meantime, property market has considerably declined in the areas of Watcharapol-Kubon, Sai Noi-Suphanburi, and also Nong Khaem where prices dropped by up to 15%.

Dr. Sopon Pornchokchai, President of AREA, explained: “Within the same area prices of similar type of property can be different, as it depends on the pricing strategy of each developer. If developers have products that match current demand they will be successful.”