Super-Luxury Condo Segment Remains Steady

1 มี.ค. 2561

Super-Luxury Condo Segment Remains Steady

The outlook of the super-luxury condo market in Thailand remains positive with healthy demand being recorded, reports local media. Increasing land prices in the Thai capital’s CBD areas and newly completed projects are key factors for many purchasing decisions.

“Some buyers in this segment moved quickly because of soaring land prices in the central business district, which pushed up residential prices. Compared with freeholds, sales prices at leasehold condominiums are much lower,” says Serbpong Kiattvisanchai, Project Development Director at Siam Sindhorn Co, to the Bangkok Post.

Unlike other real estate segments, buyers in the super-luxury segment aren’t bothered by changing economic conditions and can complete purchases using cash. Many of the people purchasing super-luxury condo units make a decision to buy only when they find something that meets their needs. Buyers in this segment also usually wait until a unit is completed before making their purchasing decision. This is different from other parts of the market.

A super-luxury development on Lang Suan road was recently launched by Siam Sindhorn as part of its Sindhorn Village mixed-use project. The development has undergone some changes since first announced by the company. That is due to several developers launching new condos in the luxury and super-luxury segments close to the project.

Find the property project on Lung Suan road 

Plans for Sindhorn Tonson were unchanged and the 17-story condo is already 40 percent sold out. However, some of the buildings that were to be mid-priced, leasehold condos have been changed to hotel and serviced apartments to avoid competition.

The company has also removed the museum and medical centre that were planned as part of the original complex. That is because a concert hall already exists on Wireless Road while a large medical centre is being developed by Bangkok Dusit Medical Services at Park Nailert. Siam Sindhorn believes the changes to Sindhorn Village will allow it to bring in more recurring income.

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