Upper Sukhumvit An Attractive Target For Developers

Sukhumvit remains to be one of the most in demand part of Bangkok when it comes to developers. This is the main reason why one could find everything within its Sois from value hotel in Sukhumvit to post restaurants and bars.

According to Knight Frank Thailand, a local property consultant, the prices of condo units in Sukhumvit including those in the low-numbered Sois going to Ekamai will remain on the higher end. This is after the firm conducted a research which revealed that the average price of condo units for sale in Sukhumvit between Sois 1 and 63 is currently at 181,800 baht for every square metre. This figure was determined at the end of last year.

Looking at the numbers, this is 15 per cent higher compared to the ones recorded in 2016. The prices have continued to increase in a steady rate because of the high cost of land owing to the very limited supply in the area especially those who are hoping to get plots located close to the main road.

The end result is that majority of real estate agents started to shift their attention to the outskirt of Sukhumvit like the areas covered by On Nut going to Samrong. These areas are considered to be in prime locations and the costs of the plots of land are more desirable. Furthermore, there are many supporting infrastructure in the area and there is no shortage of public utilities.

The road from On Nut going to Samrong is a good one because it is accessible through the Skytrain which is why many developers are now eyeing the area to construct mixed-use establishments.

In fact, a project born out of the partnership between City Realty Co and The Mall Group, is already on its way to being constructed. It is called the Bangkok Mall and will be constructed in plots of land spanning 100 rai located along the Bang Na going Trat road which is facing Bitec Bang Na. This is expected to boost the value hotel in Sukhumvit because it will add to the long list of shopping centres already located in the city centre.

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