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Krung Thon Buri & Wong Wian Yai: New Property Hotspots

Posted by admin on June 18, 2015

The Krung Thon Buri and Wong Wian Yai areas of Bangok seem to be the new hotspots for residential properties thanks to their peaceful atmospehere and proximity to Bangkok CBD.

The continuous extension of BTS and MRT lines are responsible for the emergence of new property developments’ hotspots and these two locations seem to enjoy a considerable success.

In 2014, condominium projects launched around these areas had a terrific 90% absorption rate, while sale and rental prices increased by 15% and 32% y-o-y respectively.

Poomipak Julmanichoti, managing director of Plus Property, said: “In terms of demand, we’re seeing higher interest in condominium development in this area. Market surveys found the average take-up rate in the second half of 2014 was as high as 79% of 9,691 available. On the supply front, the number of available units also grew by 37% year-on-year in the same time frame, in line with the 38% growth in demand”.

Prices of units for sale there have risen by 15% up to THB116,013 per SQM on average, while rental rates reach as much as 441 Baht per SQM meaning between THB15,000 and THB25,000 for a 1 Bedroom unit.

These areas enjoy particular growing demand due to their strategic locations in the city. While being away from Bangkok CBD, Sukhumvit & Silom BTS lines insure easy access to Siam, Silom/Sathorn, or even Sukhumvit. They are also meeting points for major roads connecting Bangkok to the up country. Plus, its proximity to the River makes it an even more attractive investment for property buyers willing to get assets alongside BTS lines.

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