Ratchadaphisek Road between the Rama IX to Ratchayothin intersections is now seen as an attractive area for condo investment. Rental yields and capital gain along this road start at 5 percent per year, according to local media reports. Condo prices in this area have grown by 9.3 percent annually over the past 5 years.
“Along Ratchadaphisek Road, from the Rama IX to Ratchayothin intersections, — a stretch spanning 10.5 kilometres — there will be 2 future mass transit lines connecting to the MRT, boosting opportunities for growth in the location,” says Nexus Property Marketing Co. Managing Director Nalinrat Chareonsuphong to the Bangkok Post.
Ratchadaphisek Road runs past Lat Phrao, Sutthisan, and Rama IX roads, important connecting streets in Bangkok. The location itself is divided into 3 zones: Ratchada-Rama IX, which runs from Rama IX intersection to the Thailand Cultural Centre MRT station; Ratchada-Sutthisan, which spans from Thailand Cultural Centre MRT station to the Thiem Ruammit and Sutthisan intersections; and the Ratchada-Lat Phrao zone.
These important connections make the area an attractive spot for condo investment. The condo price increase in this area was close to the growth of 10 percent per year recorded in most inner city locations. The Ratchada-Lat Phrao area had the highest price jump in the 3 zones, growing 15 percent annually.
“Condominiums in this location are attractive as they are near offices and can be sold or rented to foreigners. By 2020, when the Yellow Line will be completed, the Ratchadaphisek location will likely attract investors to develop new projects, particularly in locations where the Yellow and Orange lines will have an interchange,” says Nalinrat.
Condo rentals on Ratchadaphisek Road generated an annual yield of 5.39 percent. This total is higher than other inner city locations where the rental yields were 3-5 percent per year.
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