Connect with us

Bangkok

Luxury condos change the face of Sathorn Road in Bangkok

The Thaiger & The Nation

Published

on

Luxury condos change the face of Sathorn Road in Bangkok | The Thaiger

by Somluck Srimalee, The Nation

From Sathorn junction to Taksin Bridge, the riverside section of Sathorn Road has been transformed from a strip of shophouses to luxury residential condos in a gentrification that added 8,000 new apartments to the area. As well, the businesses have shifted to a more modern trade to replace the traditional trades.

With the market trend, listed and non-listed property firms are parading to launch their new condominium projects in Sathorn district, the central business district of Bangkok. Launches totalling more than 31 billion baht have been made from mid-2018 through the first half of this year, according to the recent Nation survey.

Supalai Icon Sathorn, worth 20 billion baht, is the latest project launched to market by Supalai. It is priced at 175,000 baht per square metre with a starting price of 8.2 million baht per unit.

Supalai’s CEO Prateep Tangmatitham said the mixed-use project would feature residential along with offices, shops and complete facilities on a 12,600 sqm plot, 56 floors high. The combined total of 780 residential will offer a functional area of approximately 150,000 sqm.

Meanwhile, other property firms are also launching their condo projects on Sathorn Road.

To find all the latest Bangkok condos for sale, and compare prices, go HERE.

For example, in the middle of last year Pruksa Real Estate introduced the Reserve Sathorn worth 2.59 billion baht – it has already sold out. The project offered a 280,000 baht per sqm starting price, or 13 million baht per unit. The project will be completed and transferred to customers in 2022.

Sathaporn Estate last September introduced its 1.3-billion baht Shade Sathorn condominium project at a 135,000 baht per sqm price, or 3.69 million baht per unit. The project is to be completed and transferred to its customers in 2021 or 2022.

The latest condo project is the 3.4 billion baht Anil Sathorn by Grand Unity Development. It goes for 260,000 baht per sqm, or a starting price of 11 million baht per unit.

From 2003 through 2018, a total of 8,002 condominium unite, valued at over 40 billion baht, were launched for sale on Sathorn Road. Up to 95% were successfully sold, according to research by property agency Colliers International Thailand.

Their research also found an average condominium price on Sathorn was at 250,000 baht per sqm.

Luxury condos change the face of Sathorn Road in Bangkok | News by The Thaiger

Most property firms that launched sales for over 40 billion baht worth of condos on Sathorn Road in 2018 through the first half of this year have successfully sold out, Colliers local research director Pattarachai Taweewong said.

For example, Reserve Sathorn launched mid-year and has managed to already sell out. Reflecting the demand, condominium prices also increased from the pre-booking 280,000- 300,000 baht per sqm.

Sansiri in 2017 launched the Line Sathorn worth 4 billion baht. The project combines 327 units at Bt270,000 per sqm and a starting price of 7.9 baht million. The project sold out within a day of opening up to booking. Those units now enjoy an average resale price of 285,000 baht per sqm.

Raimon Land last October introduced its 4.2 billion baht Tait 12 project on Sathorn Soi 12. At 264,000 baht per sqm, it offers a starting price 7.6 million baht per unit, and reached sales of 70% for the sales launched.

Sathorn Road is a prime location for residential property, says Pruksa Real Estate’s chief executive director of premium units. Prasert Taedullayasatit pointed to the locations many lifestyle-oriented facilities, including a hospital, university, primary school, secondary school and shopping centre.

The location also boasts both MRT and BTS transit lines, giving an added boost to demand for residential projects in the area. Meanwhile, the area’s limited availability of land for building residential drives up the price of land there, he said.

For 2018, land price around Sathorn Road were recorded at an average 2 million baht per square wah. Already, the price has jumped 10 per cent, while demand for residential in the location enjoys continuing strong growth, he said.

SOURCE: The Nation

Luxury condos change the face of Sathorn Road in Bangkok | News by The Thaiger



Find more property for sale and rent across Thailand at Thaiger Property, powered by FazWaz. You can even list your property for free.

Do you need help with your business? Are you searching for a new job? Or an employer looking to hire? Try JobCute today.

Read more headlines, reports & breaking news in Bangkok. Or catch up on your Thailand news.

Bangkok

6 month free trial for Bang Wa-Tha Chang ferry service, Bangkok

The Thaiger & The Nation

Published

on

6 month free trial for Bang Wa-Tha Chang ferry service, Bangkok | The Thaiger

PHOTO: Thai PBS

A new route has been launched today between Bang Wa (Khlong Phasi Charoen) and Tha Chang (Chao Phraya River). The route has been announced by the Bangkok Metropolitan Administration (BMA) and the Marine Department for a 6 month trial.

The boat service will be free of charge during its 6 month trial run and aims at providing new alternatives  for daily commuters. The new boat service is a part of PM Prayut Chan-o-cha’s initiative “Lor Rang, Reu” (Wheels, Tracks, Boats).

Thai PBS reports that four routes are not currently being serviced by private firms – the route between Bang Wa and Tha Chang piers, Hua Lampong and Devarajakunchorn temple piers, Sri Boonruang Temple and Paseo piers and the route between Bang Wa and Kamphaeng Temple piers.

The new ferry route starts at Bang Wa pier, near the BTS Bang Wa station, runs along Phasi Charoen canal, Bangkok Yai canal and into the Chao Phraya River. The boat stops at four piers – Intharam temple, Phra Phuttha Yodfa Bridge, Rajini and Tha Chang.

The service is available daily from 6-9am at 30 minute intervals and from 9am-7pm at 60 minute intervals.

SOURCE: Thai PBS

Continue Reading

Bangkok

Two Chinese and two Thais arrested over huge ‘ice’ haul

The Thaiger & The Nation

Published

on

Two Chinese and two Thais arrested over huge ‘ice’ haul | The Thaiger

PHOTO: The Nation

Authorities have intercepted a container carrying a tonne 11,000 kilograms) of crystal methamphetamine (ice) with a street value estimated around 2 billion baht, before it could leave the country.

Police also announced the arrest of suspects involved in the drug haul as Chinese nationals 24 year old Huang Guoxion and 44 year old Zhou Qingchu, along with Thais 57 year old Suban Manachanon and 62 year old Joi sae Fong.

The two Thais and Huang were arrested at a container yard in Chon Buri’s Sri Racha district on Saturday, while Zhou was tracked down to his condo in Bangkok’s Huai Kwang district.

The container was found stuffed with 612 boxes, 34 of which were filled with the drug disguised to look like tea bags, while the remaining boxes carried shoes.

The four suspects have been charged with having traffickable quantities of narcotics in their possession with intent to sell and have been handed over to the Narcotics Suppression Division for legal action.

This crackdown is part of the authorities’ efforts to tackle drug problems. At present, most prisons in the country house inmates held on drugrelated charges.

SOURCE: The Nation

Continue Reading

Bangkok

Chinese move their purchase power away from Bangkok condo market

The Thaiger

Published

on

Chinese move their purchase power away from Bangkok condo market | The Thaiger

Chinese condo buyers are veering their purchase power away from the Bangkok property market citing the strong Thai currency, overpricing and a supply glut.

  • 2015 – 5.8 Yuan to the Thai Baht
  • 2019 – 4.4 Yuan to the Thai Baht

Chinese move their purchase power away from Bangkok condo market | News by The Thaiger

The rise of the baht and the weakening of the Chinese Yuan over the past four years, have culminated in a 25% softening in Chinese investment power in the Thai property market (chart from xe.com)

Property consultants say that Chinese buyers are now containing their investment risk by buying into the lower-end 2-6 million baht condo market instead of the 5-10 million baht condos they were previously purchasing.

At the same time the annual returns for Bangkok condominiums is reported to have dropped from 6-7% five years ago to only 3-4% in some locations in the current market.

Speaking to the Bangkok Post, Simon Lee, President of property brokerage Angel Real Estate Consultancy, says overall sales volume of Bangkok condos bought by Chinese buyers will shrink by half in 2019.

He also notes that the current Thai government crackdown on investors renting out condos on daily or weekly leases, has scared a lot of new investment into the sector away  as the ‘law’ appears to be applied in a haphazard manner.

The Chinese investors are also expressing disappointment when they buy into a development at one cost, only to find that locals pick up the balance of the stock at a lower price as the developers clears the stock.

Bangkok’s soaring land prices, which should see the value of condos rise, is being balanced out with the sheer glut of stock available, pushing down values. Rental returns are also being pushed down by the volume of stock available to the rental market.

SOURCE: Bangkok Post

Here’s another report about signs of weakness emerging in the Bangkok condo market from The Thaiger.

Continue Reading

The Thaiger Newsletter

Keep up with all the day’s news. Subscribe here.

The latest news and information from Thailand.

* indicates required



เลว! วินจยย.อุดมสุขยกพวกตีกัน ไม่กลัวตร. หนุ่มโดนลูกหลงกระสุนเจาะศีรษะดับหน้าบ้าน [คลิป] | The Thaiger
ข่าวกรุงเทพ2 days ago

เลว! วินจยย.อุดมสุขยกพวกตีกัน ไม่กลัวตร. หนุ่มโดนลูกหลงกระสุนเจาะศีรษะดับหน้าบ้าน [คลิป]

ชมไฮไลต์การแข่งขันไทย-สหรัฐ “ฟุตบอลโลกหญิง 2019” กลุ่ม F | The Thaiger
ฟุตบอล5 days ago

ชมไฮไลต์การแข่งขันไทย-สหรัฐ “ฟุตบอลโลกหญิง 2019” กลุ่ม F

10 มิ.ย. ถ่ายทอดสด “ฟุตบอลโลกหญิง 2019” ไทยพบสหรัฐ ตี 2 -PPTVHD ยิงตรงจากสนาม | The Thaiger
ฟุตบอล7 days ago

10 มิ.ย. ถ่ายทอดสด “ฟุตบอลโลกหญิง 2019” ไทยพบสหรัฐ ตี 2 -PPTVHD ยิงตรงจากสนาม

เริ่มแล้ว งาน”1 ปี อนาคตใหม่ เดินไปด้วยกัน” ณ หอประชุมใหญ่ ธรรมศาสตร์ท่าพระจันทร์ | The Thaiger
ข่าวการเมือง1 week ago

เริ่มแล้ว งาน”1 ปี อนาคตใหม่ เดินไปด้วยกัน” ณ หอประชุมใหญ่ ธรรมศาสตร์ท่าพระจันทร์

ดูย้อนหลังวอลเลย์บอลไทย-ตุรกี “เนชั่นส์ ลีก 2019” นัดที่ 9 | The Thaiger
วอลเลย์บอล1 week ago

ดูย้อนหลังวอลเลย์บอลไทย-ตุรกี “เนชั่นส์ ลีก 2019” นัดที่ 9

ระเบิดความมันส์ 6 มิ.ย. ไทย-ตุรกี “วอลเลย์บอล เนชั่นส์ ลีก 2019” -ลิงก์ถ่ายทอดสด | The Thaiger
วอลเลย์บอล2 weeks ago

ระเบิดความมันส์ 6 มิ.ย. ไทย-ตุรกี “วอลเลย์บอล เนชั่นส์ ลีก 2019” -ลิงก์ถ่ายทอดสด

ดูย้อนหลังแมทช์ 5 ดาว วอลเลย์บอลไทย-โดมินิกัน “เนชั่นส์ ลีก 2019” นัดที่ 8 | The Thaiger
วอลเลย์บอล2 weeks ago

ดูย้อนหลังแมทช์ 5 ดาว วอลเลย์บอลไทย-โดมินิกัน “เนชั่นส์ ลีก 2019” นัดที่ 8

5 มิ.ย. ชมถ่ายทอดสดประชุมสภาผู้แทนราษฎรครั้งที่3 โหวตเลือกนายกรัฐมนตรี | The Thaiger
เลือกตั้ง 622 weeks ago

5 มิ.ย. ชมถ่ายทอดสดประชุมสภาผู้แทนราษฎรครั้งที่3 โหวตเลือกนายกรัฐมนตรี

[LIVE] “ธนาธร จึงรุ่งเรืองกิจ” แสดงวิสัยทัศน์บริหารประเทศนอกรัฐสภา : เลือกตั้งนายก 2562 | The Thaiger
เลือกตั้ง 622 weeks ago

[LIVE] “ธนาธร จึงรุ่งเรืองกิจ” แสดงวิสัยทัศน์บริหารประเทศนอกรัฐสภา : เลือกตั้งนายก 2562

11 โมง ชมถ่ายทอดสดประชุมรัฐสภา โหวตเลือกนายกรัฐมนตรี คนที่ 30 | The Thaiger
เลือกตั้ง 622 weeks ago

11 โมง ชมถ่ายทอดสดประชุมรัฐสภา โหวตเลือกนายกรัฐมนตรี คนที่ 30

เชียร์สด 4 มิ.ย. ไทย-บัลแกเรีย “วอลเลย์บอล เนชั่นส์ ลีก” 6 โมงเย็น-ลิงก์ถ่ายทอดสด | The Thaiger
วอลเลย์บอล2 weeks ago

เชียร์สด 4 มิ.ย. ไทย-บัลแกเรีย “วอลเลย์บอล เนชั่นส์ ลีก” 6 โมงเย็น-ลิงก์ถ่ายทอดสด

เพราะมาก “แก้ม วิชญาณี” เจ้าหญิงจัสมิน โคฟเพลง “Speechless” | The Thaiger
เพลงสากล2 weeks ago

เพราะมาก “แก้ม วิชญาณี” เจ้าหญิงจัสมิน โคฟเพลง “Speechless”

[คลิป]ชาวเน็ตโวย UNHCR ตั้ง”นก สินจัย” พรีเซนต์ช่วยผู้ลี้ภัย “ปวิน” คอมเมนต์เจ็บ | The Thaiger
ข่าวการเมือง2 weeks ago

[คลิป]ชาวเน็ตโวย UNHCR ตั้ง”นก สินจัย” พรีเซนต์ช่วยผู้ลี้ภัย “ปวิน” คอมเมนต์เจ็บ

[Live]ชมสด 21:30 ขบวนแห่ลิเวอร์พูล ถ้วยยูฟ่า แชมเปียนส์ ลีก 2019 | The Thaiger
ฟุตบอล2 weeks ago

[Live]ชมสด 21:30 ขบวนแห่ลิเวอร์พูล ถ้วยยูฟ่า แชมเปียนส์ ลีก 2019

ชมย้อนหลัง ลิเวอร์พูลชัยชนะเหนือสเปอร์ส คว้าแชมป์ยูฟ่าสมัยที่ 6 | The Thaiger
ฟุตบอล2 weeks ago

ชมย้อนหลัง ลิเวอร์พูลชัยชนะเหนือสเปอร์ส คว้าแชมป์ยูฟ่าสมัยที่ 6

Trending