Condominiums which are situated in the Sanam Pao-Ari-Saphan Khwai area still stay in demand, with their resale prices increasing due to limited land to develop, high residential density, rising land prices, favourable transport and location close to government agencies, according to Plus Property Co, a real estate consultant.
Anukul Ratpitaksanti, Plus Property Co’s deputy managing director, mentioned that the condo re-sales in the area have risen by about 50% – 60% during the last 5 – 6 years because of high residential density.
The area is favoured by different social groups – from the rich individuals and civil servants to private employees and students due to its close location to the primary sky train routes.
The numbers from the survey
The survey found out that there was a 2,184 supply in condo units, where 91% are already sold, with 12 units on average being purchased monthly.
In addition, only 9 high-rise condo units are available from the 3 projects close to the sky train routes, and these are priced at 160,000 baht on average per square metre.
At the same time, there are about 197 low-rise condo units available from 12 projects price at 102,000 baht on average per square metre. This means that the Sanam Pao-Ari-Saphan Khwai area is in demand for customers, specifically the high-rise condos close to the sky train routes.
In the year’s 2nd half, there will be around 1,371 condo units coming from 2 recent projects, with opening prices between 160,000 – 170,000 baht on average per square metre.
These high prices caused a demand for condos to expand on secondary roads or a short distance in the side streets, which are still considered close to the sky train stations.
The condos in the Sanam Pao-Ari-Saphan Khwai area are facing a steady demand since their locations are close to transport routes, as well as being close to the Pradipat intersection.
This area is also close to universities, schools, department stores, Chatuchak market, hotels, offices and government offices.
Even though a Condo in Ari may generally be in demand compared to a Condo in Thonglor, this doesn’t mean bad news for the latter. It just means that location is crucial for most people looking for condo units. Needless to say, with Bangkok’s condo market increasing, it generally means a great deal for all condos operating in the entire city.