If you have ever booked a hotel in Sukhumvit 11, you might have seen the number of high-rise condominiums in the area. In fact, Sukhumvit has some of the most expensive condominium units in the capital of Thailand. The area is accessible through the BTS station and it is a popular option for investors who are looking to own a property and those who are searching for a place to rent.
According to CBRE Thailand Co’s managing director, AliwassaPathnadabutr, this year is looking bright for Sukhumvit because the condominium market is expected to be as in demand as the precious year. The same goes for other zones which are dubbed as central business districts.
There is no denying the sharp increase in the costs of a condominium unit located in Sukhumvit. The lowest price is now set at about 250,000 baht per square meter – this is the baseline and the most common price. While the costs for these projects continue to increase, new projects are still under construction around the area especially in PhromPhong and the district of Thonglor.
Many clients are starting to look into alternative prime locations that have the lowest supply but with the most value with regards to the money spent as an investment. For projects that are yet to be launched in 2019, she believes that townhouses and single homes will have the most advantage when it comes to residential properties.
The land prices at the centre of the capital is currently very high that luxury residences built on them are also offered at very high costs for every square meter. For this year, developers have to consider carefully a number of factors including product development, location and package price before making any major purchasing decisions.
Condominiums that are low-rise is starting to create a trend for those who are hoping to reside in the metropolitan city yet does not have enough savings to shell out for a high-priced one. Many consumers are now buying condo units not just to live in but also as investment. With bookings continue to increase for a hotel in Sukhumvit 11, having a condo available for rent is beneficial for those who are looking to earn a passive income.