Taopoon-Bangsue is transforming into the largest mass transit hub in Thailand and work on several projects should be completed in 2020. This along with the fact that it connects with the MRT Blue Line at Bangsue Station and the Purple Line at Taopoon Station, has seen it become an attractive residential area, according to research from Knight Frank.
There are also several other plans for the area. These include the building of an over 300-rai site around the Bangsue Station into a Transit Oriented Development (TOD) that has mixed-use projects. In addition to this, up to 4 mass transit lines, the Blue Line, Purple Line, Dark Red Line, and Light Red Line, could eventually connect at Bangsue Station.
Other developments in the area include the Bangsue Central Station that will contain 2 high-speed rail lines. Services will include Bangkok-Chiang Mai and Bangkok-Nong Khai routes. The station will also serve as a connecting point for five Airport Rail Link stations, from Phaya Thai Station to Don Muang Airport and Suvarnabhumi Airport.
“The condo market in Taopoon-Bangsue will benefit greatly from many positive attributes from the development of Bangsue Central Station, Smart City, and Transit Oriented Development (TOD) in the future. The integrated transportation network that connects many train lines enables convenience in travel into the city. The trend is that prices are likely to increase significantly in line with steadily increasing demand for condominiums as well as rising land prices,” says Phanom Kanjanathiemthao, Managing Director of Knight Frank Thailand, in a press release.
From 2009 to the end of the 4th quarter of 2017, there were 30,200 units of total accumulated condo supply in the Taopoon-Bangsue area which had an accumulated take-up rate of 90 per cent. The average selling price per sq. metre for grade A condos launched in the Taopoon-Bangsue area is estimated to be around THB117,000 which is up to 40 per cent cheaper than nearby districts.
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