Issue 3 | Feature brought to you by Century 21 Thailand
Bangkok; known as both the Big Mango and City of Angels ought to have a new nickname. The City of Growth, Expansion or Development should be added to its repertoire, as Bangkok is certainly not the way it was twenty, or even ten years ago.
During the last decade, half of Thailand’s economic growth was due to advancements in Bangkok alone. The capital city is the national center of commerce, industrialization, development and foreign trade. It is the heart of Thailand’s distribution network and contains the largest consumer market. All of these are reasons why Bangkok offers some of the world’s best investment opportunities at this time, although some areas of the city are naturally more promising than others.
The 1999 introduction of the BTS Skytrain and then the 2004 opening of the MRT subway system have both been transforming the city ever since, literally creating growth wherever they travel. Today, with major plans for extending all existing lines as well as adding several new ones, Bangkok will continue to grow outwards, into its adjacent suburban areas for the foreseeable future.
Century 21 Thailand, the national branch of the world renowned real estate franchise corporation has provided insight on the top five most up and coming areas of Thailand’s capital city. From both a residential and investing standpoint, these five areas will provide property buyers with the most promising opportunities for eventually catching a major capital gain.
Living in Luxury on the Chao Phraya River
Sathorn – Taksin – Thonburi – Wutthakat
Some of the most beautiful metropolitan settings in Thailand are surrounding Bangkok’s Southern riverfront, an area hot with luxury developments. Just south of where the river meets the Skytrain is already home to some of Bangkok’s most expensive condos and hotels, and is expected to continually attract more of the like. For example, right along the river off Charoen Nakorn Road will be the new Icon Siam, which will become somewhat of a micro suburb consisting of two residential sky-scrapers, shopping complexes, multimedia entertainment centers and more. On the same road, Asiatique 2 will be a continuation of the massively popular market, opening up in 2016.
Transaction Prices in 2014 in THB: 120,000 – 350,000 Sq Wah
Southern, Suburban Connectivity
Petchkasem – Charansanitwong
It’s not always easy or enjoyable for everyone to live in the heart of one of the world’s biggest and busiest cities. Lucky for all laid back Bangkokians, a new outer-city MRT station will open up in just a few years’ time. A new way for city-workers to live away from the hustle and bustle, this area of Southern Bangkok is also nearby Rama II, a major through way that connects the city to the popular beach resort of Hua Hin. With convenient transportation methods, this region is anticipated to become one of
Bangkok’s best suburbs.
Transaction Prices in 2014 in THB: 100,000 – 280,000 Sq Wah
A New, Northern Hub
Bangpho – Bang Sue– Nonthaburi
The northern end of Bangkok is already frequented by Thailand’s tourist market due to having the largest market in Thailand as well as one of the city’s largest and most picturesque parks, both under the name of Chatuchak. Attractions aside, it’s also one of the more convenient areas of the city to get to, containing an MRT and BTS junction. Just north of this area is the city’s hub for governmental agencies, IT businesses, and other professional offices, which are currently just beyond the reach of public transportation. However, three subway lines are being planned and constructed through this area within the next few years. They will be the first public transit lines outside the Bangkok Metropolitan Administration and are expected to create major changes to the area, opening up hundreds of new real estate options for business owners, offering an easier commute to thousands.
Transaction Prices in 2014 in THB: 150,000 – 250,000 Sq Wah
Growing Business Centers in Bangkok
Phaholyothin – Sena – KasetNawamin
While the majority of business activity in Thailand is currently contained within the office buildings of central Bangkok, the district just north of the city known as Ladphrao is gearing up for a major expansion in this category. Often referred to as the Siam Square of Greater Bangkok, Ladphrao will soon become the city’s newest central business district. As such, the areas between Ladphrao and central Bangkok, namely all of the northern MRT stations as well as the BTS stations north of Ari are teeming with investors. In fact, there are already plans for over three thousand condominium units to enter the market within the year, in addition to many new Grade A office buildings.
Transaction Prices in 2014 in THB: 80,000 – 180,000 Sq Wah
Eastern Expansions from Sukhumvit
Bangna Junction and Sanphawut
Arguably the hottest up-and-coming area of the city at the moment, Bangna has all eyes on its very bright future. Multiple major projects are already underway, notably the Bangkok Mall which will soon be the largest shopping mall in South East Asia, located opposite the massive Bangkok International Trade & Exhibition Centre. The area will also soon be the new home to what is currently the Ekkamai Transportation Center, allowing area residents to easily reach other Eastern cities in Thailand, such as Pattaya. It’s definitely an area to watch, not only for its enormous commercial attractions but for its residential draw, including the famous Bangkok Patana International School and the Bangna Navy Golf Club.
Transaction Prices in 2014 in THB: 150,000 – 250,000 Sq Wah
** Source: Century 21 Thailand transaction prices are based on data and survey results gathered from current high-rise condominiums in the global corporation’s network.