According to a recent study from Knight Frank Thailand, the availability of luxury homes, those priced over THB10 million, in the Ring Road – Onnut area could soon be limited. Only a few projects are scheduled to come on the market in the short term with Villa Nakarin Onnut – Ring Road by Metropolis Properties being one of the most notable developments.
Mr. Phanom Kanjanathiemthao, managing director of Knight Frank Thailand, noted that its research during the last five years shows that there are 2,001 homes in 13 projects in this segment of the market. Roughly 87 percent of the luxury homes in the Ring Road – Onnut area have already been sold and only 254 homes remain on the market.
The number of annual sales, which average out to be 500 to 600 homes per year, in the segment combined with the scarcity of large land plots suitable for development and the high cost of land could cause a shortage of luxury homes priced over THB10 million in this area of Bangkok next year, Phanom noted.
Metropolises Properties is looking to bring additional supply to this segment of the property market with its Villa Nakarin Onnut – Ring Road. The project is situated in a convenient location with quick access to several key destinations in Bangkok. The development also embraces a clean, international design with the power lines and telephone cables hidden underground.
The project will consist of single houses spread over 170 plots with detached two-story and three-story homes. Metropolises Properties said it believes the design to be consistent with the needs of modern and large families that it hopes will be enticed to live there. Villa Nakarin Onnut – Ring Road also has several measures in place to protect the homes from flooding including the placement of internal roads, which are situated on higher ground.
