The Central Bangkok Condo Market: A Unique Landscape

The Central Bangkok Condo Market: A Different Perspective

The central Bangkok condo market, which encompasses areas like Sathon, Silom, Lumpini Park, Wireless Road, Siam, and Ploen Chit, stands out from other locations in the city. The land prices in this area are the highest in the capital, leading to the development of projects that cater to either superluxury buyers or offer a large number of units.

For instance, there are projects like Noble Ploenchit, which boasts 1,444 units, 125 Sathorn with 755 units, and Supalai Icon Sathorn with 787 units, built on the former Australian Embassy site. However, these projects face challenges in attracting buyers as they have to compete with the option of purchasing a similarly sized unit of the same quality at a lower price, just a few MRT or BTS stations away.

The Allure of the High-End Luxury Segment

On the other hand, the high-end luxury segment in central Bangkok is particularly appealing because buyers in this category tend to pay in cash. In terms of demand, units priced at THB20 million and above accounted for 30.2 percent of all interest in the area last year. The THB10-20 million price range also recorded a significant demand share of 25.4 percent.

Projects that have found success in the THB10-20 million segment are typically those that offer larger units, diverse layouts, modern amenities focused on lifestyle, or a combination of all three. Notable examples include Dusit Parkside and Tait 12.

The Rise of THB5-10 Million Condo Units

Condo units in central Bangkok priced between THB5-10 million were the second most popular category in 2022. This can be attributed partly to the supply of units available in this price range. Additionally, projects located near Chulalongkorn University, such as Park Origin Chula Samyan and Ideo Chula Samyan, have seen strong sales rates.

Exciting Developments on the Horizon

The central Bangkok condo market is expected to see interesting activity in the near future, with several high-profile launches anticipated. Proud Estate recently made its entry into the Bangkok condo scene with the presales opening of Romm Convent. Prices for units at this project, located across from BNH Hospital, start at THB8.5 million.

One Bangkok, a prominent development, will eventually feature three residential towers, although plans have only been announced for one so far. This tower will be located in the same complex as the Ritz-Carlton Bangkok but will have its own branding and management. The other two residential projects will be stand-alone towers, and only leasehold ownership will be available.

Furthermore, Swire Properties, a Hong Kong-based company, is expected to launch a new luxury condominium through a joint venture with City Realty. This project follows their acquisition of a stake in the land from HKR International. While no specific timeline has been provided for the market release, the firm has confirmed that it will be a luxury development.

Conclusion

The central Bangkok condo market presents a unique landscape with its high land prices and diverse range of projects. From superluxury offerings to units catering to different price segments, the market continues to evolve and attract buyers. With upcoming launches and exciting developments, the central Bangkok condo market remains a dynamic and enticing investment opportunity.

FAQs

1. Are there any affordable condo options in central Bangkok?

Yes, there are condo units available in central Bangkok priced between THB5-10 million. These units offer a more affordable option for buyers.

2. What makes the high-end luxury segment appealing to buyers?

Buyers in the high-end luxury segment tend to pay in cash, making it an attractive investment option for developers.

3. Which projects have seen success in the THB10-20 million price range?

Projects like Dusit Parkside and Tait 12 have found success in the THB10-20 million price range due to their larger units, diverse layouts, and modern amenities.

4. What can we expect from the upcoming launches in the central Bangkok condo market?

The upcoming launches in the central Bangkok condo market are highly anticipated and are expected to bring exciting new options for buyers.

5. Is the central Bangkok condo market a good investment opportunity?

Yes, the central Bangkok condo market offers a dynamic and enticing investment opportunity, with its unique landscape and diverse range of projects.