• Kittikom
  • 18 November 2015

In this intense competition over the property market shares, where differentiation through physical location and convenience never begins to wane in effect but makes a giant leap for a business, the only option without leaving a landmark on the prime location is to lose or win no one. AP (Thailand) clearly wouldn’t end up with a short end of the stick as it bought a portion of land close to Wutthakat road several metres from Wutthakat BTS station, and developed it into a luxury mid-rise condominium affectionately known as Aspire Wutthakat. The rest of the developers who were swept in this cult-like trend of snatching the prime location would be put in difficult position as Aspire Wutthakat was not only located on one but offered at incomparably low price of THB 1.85 million/ unit, which was THB-1-million-/unit cheaper than the condos located by Talat Phlu and Pho Nimit BTS stations and just half of the price of the condo units sold near Wongwian Yai and Krung Thonburi BTS stations. It goes without saying that this stately condominium yet unborn has already added another layer of attraction to Thonburi District.

Aspire Wutthakat Analysisaspire wuttakat-001Project Details (Last Updated July 31st, 2015)

Project Name: Aspire Wutthakat

Developer: AP Thailand

Address: Near Soi Wutthakat 19, Wutthakat road, Talad Plu sub-district, Thonburi district, Bangkok (approximately 200 metre away from Wutthakat BTS station)

Condo Area: 1-1-77 rais of land

Architectural Design: This mid-rise condominium puts 8 storeys comprising 166 luxurious units on display. The 1st floor embraces all of the lobby hall, lifts, mailroom, public restrooms, juristic person office, laundry room and 40% parking space. The 2nd floor provides condo facilities featuring a salt pool, fitness centre, public restrooms, and comes with 19 residential units. The remaining floors each contain 24 residential units. To add more, the condo rooftop terrace is decorated with a garden space, covering up the elevator machine room, plumbing engine room, and tank.

Lifts: 2 lifts (for both passenger and service uses)

Unit Layouts:

Studio                                                22.5 sq.m.

1-bedroom                                         30.0-30.50 sq.m.

2-bedroom                                         42.5 sq.m.

Construction Period: August 2015 – September 2016

Sinking fund: THB 350/ sq.m.

Maintenance Fees: THB 65/sq.m. a month. (The special promotion offers a discount of THB 20/sq.m. per month on the monthly maintenance fees for one year after moving in)

Average Selling Price: THB 1.85

Starting Price: Approx. THB 82,000-84,000 /sq.m.

Selling Rate: 30% of total units sold out. 1-bedroom is the best-selling unit type according to the sale figures.

Project Details

Floor Plan Review

Condo Facilities

A beautifully arranged garden offering 360 degree uninterrupted views of city and skytrain railways from the roof. An open-air salt water pool with sun-drenched pool deck & private fitness centre on the 2nd floor of the building.

Aspire Wutthakat PlanGround-floor-003

Aspire Wutthakat Ground Floor Plan inclusive of a lobby, juristic office, mailroom, laundry room, and restrooms.

Aspire Wutthakat Planfloor2-001

Aspire Wutthakat 2nd Floor Plan coming with the condo’s exclusive facilities featuring a salt water pool and fitness centre.

Aspire Wutthakat Planfloor3-002

Aspire Wutthakat 3rd-8th Floor Plan with mainly residential units.

Unit Layout Review

1. Studio

Aspire Wutthakat PlanType_A4-A5_22.50-004

Aspire Wutthakat PlanType_A18-A19-A20-A21_22.50-005

2. 1-bedroom

Aspire Wutthakat PlanType_B1-30.00-006 Aspire Wutthakat PlanType_B2-B3_30.00-007 Aspire Wutthakat PlanType_B7-B12_30.50-008 Aspire Wutthakat PlanType_B8_30.00-009

3. 2-bedroom

Aspire Wutthakat PlanType_C6_42.50-010

Aspire Wutthakat PlanType_C13_42.50-011

Layout Review:

Floor-to-Ceiling Height: 2.5 metres

Furnishings: Unfurnished (but comes with kitchen and bathroom cabinetries and sliding doors for kitchen).

Air Conditioner: Fitted

The only sample rooms available at this time is a 30-sq.m. 1-bedroom as shown below. The sample room is properly furnished with home items of perfect sizes and shapes and is painted in matching scheme colours. The real unit sold is unfurnished.

Aspire Wutthakat One Bed1bed_30sqm (1)-001

The front door of sample 1-bedroom.

Aspire Wutthakat One Bed1bed_30sqm (2)-002

A front door made of wood equipped with a door handle for 1-bedroom unit.

Aspire Wutthakat One Bed1bed_30sqm (3)-003

The dining space is set on the right/left behind the front door according to the floor plan.

Aspire Wutthakat One Bed1bed_30sqm (9)-012

A sizable two-person table set can perfectly fit in the dining space without being excessively spacious.

Aspire Wutthakat One Bed1bed_30sqm (10)-013

The living zone is gracefully furnished with L-shaped sofas topped with a full-sized bed. The room is shaded with blue and crème schemes matched with the light brown of furnishings, lending an immaculate beauty and warmth to the room. No need of lush décors at all.

Aspire Wutthakat One Bed1bed_30sqm (5)-005

A TV, TV cabinet, and cabinet shelves are wall-fitted along the doorway in the forefront of the unit.

Aspire Wutthakat One Bed1bed_30sqm (15)-019

A romantic close-up look of a large comfy bed on top of sofas.

Aspire Wutthakat One Bed1bed_30sqm (17)-021

A wardrobe and dressing table can perfectly fit in the leftover space at the end of the bed.

Aspire Wutthakat One Bed1bed_30sqm (22)-025

The room comes with two fixed windows and one top-hung window.

Aspire Wutthakat One Bed1bed_30sqm (24)-026

The top-hung window comes with a lock.

Aspire Wutthakat One Bed1bed_30sqm (25)-027

Opposite to the perfectly blended bed/living room lies a smart and well-proportioned kitchen enclosed behind see-through glass sliding doors. The bathroom and balcony can be conveniently accessed from the kitchen.

Aspire Wutthakat One Bed1bed_30sqm (27)-028

The door comes with a lock handle.

Aspire Wutthakat One Bed1bed_30sqm (30)-031

The 1-bedroom package has a countertop in the kitchen.

Aspire Wutthakat One Bed1bed_30sqm (32)-033

A cabinet and shelf are wall-fitted.

Aspire Wutthakat One Bed1bed_30sqm (33)-034

The countertop is equipped with drawers and cabinet. No hob included.

Aspire Wutthakat One Bed1bed_30sqm (34)-035

A spoon-fork-chopstick drawer.

Aspire Wutthakat One Bed1bed_30sqm (36)-037

A spacious cookery countertop is in place ready for use.

Aspire Wutthakat One Bed1bed_30sqm (38)-039

A wall-mounted cabinet suitable for placing light-medium weighted appliances.

Aspire Wutthakat One Bed1bed_30sqm (39)-040

An outdoor balcony can be easily accessed from the kitchen through the door at the end of the passage.

1bed_30sqm (41)

The glass sliding doors keep a border between the kitchen and balcony.

Aspire Wutthakat One Bed1bed_30sqm (40)-041

The sliding door has a handle with a lock.

Aspire Wutthakat One Bed1bed_30sqm (42)-043

The compressor is hanged outdoor in the balcony.

Aspire Wutthakat One Bed1bed_30sqm (43)-044

The wet and dry zones are not separated in the bathroom as no shower curtain is provided.

Aspire Wutthakat One Bed1bed_30sqm (44)-045

A sink is located on the left near the door when entering.

Aspire Wutthakat One Bed1bed_30sqm (48)-049

Aspire Wutthakat One Bed1bed_30sqm (49)-050

The bathroom is inclusive of a sink & mirror, toilet bowl and other sanitary, but doesn’t come with a shower curtain, shower warmer and window for ventilation.

Aspire Wutthakat One Bed1bed_30sqm (28)-029

Laminate flooring for the bed/living room.

Aspire Wutthakat One Bed1bed_30sqm (29)-030

30×30-cm-tile flooring in the bathroom.

Aspire Wutthakat One Bed1bed_30sqm (51)-051

The floorings in the kitchen and balcony are the same with a strip of granite stone set in between.

 

Show More

Location

There had been many condominiums put up for sale supplying over 5,000 exclusively designed units located off the bustling roads by Wutthakat BTS station several months before commencing the station’s operation in December 2013. This skytrain station was established on the viaduct carrying the transit lines over Klong Dan canal that is situated in-between the two separate communities, and can be accessed from the four entry/exit gates stationed opposite to each other. These two communal areas are termed Ratchapruek zone and Wutthakat zone after the roads throughout them and shall be analysed as follows;

Any residents living in Ratchapruek zone for the first time will be thrown out of whack by the directional confusion without fail. The road network within this area was so haphazardly constructed that some old inhabitants even today are forced to make a U-turn from afar in order to take on the reversed lane and drive another several hundreds of metres or kilometres to home. Because the turnarounds here have a great distance in between, missing to make a U-turn at the nearest junction to their home is something they avoid at all cost. That’s when the condominiums have come in handy. The residents of the condominium who do not seek to travel by road here can conveniently commute by BTS from Wutthakat station. Currently there have been 6 condominiums within Ratchapruek-road-based sites under development of 4 major developers during 2012-2014 as follows: The Key Sathorn-Ratchapruek and The Key Wutthakat condominiums by Land & Houses, Aspire Sathorn-Taksin (Timber Zone) and Aspire Sathorn-Taksin (Brick Zone), 2 of the 4 main phases by AP (Thailand), Ideo Wutthakat by Ananda Development, and Tempo Grand Sathorn-Wutthakat by Built Land Plc.

On the other edge of Klong Dan, the commune with mainly Wutthakat roads provides some areas outlying Wutthakat BTS station for new condominium developments to be taken place. The said community has long historical background as reflected in the old-world charm and character of the houses, stores and commercial buildings set along the roads and comes to fame for the Thai traditional market “Talat Phlu” as one of the few veritable evidences of the community’s rich cultural heritage, best to commute by Terdthai road. The majority of condominiums open along Wutthakat roads are mid-rise with no more than 8 storeys, consisting of PE:LA Wutthikat by Chanuntorn Development located near Soi Wutthakat 21, Aspire Wutthakat by AP (Thailand) sited by Soi Wutthakat 19, The Key Wutthakat II in between Soi Wutthakat 5 and 7 (coming in the end of 2015), amounting to 3 in total.

Note: For traveling to PE:LA Wuthhakat, Aspire Wutthakat or The Key Wutthakat II by BTS, exit the platform through the gate 3.

The condominiums surrounding Wutthakat station have only experienced gradual increases in price per unit on average, while those situated one BTS stop from there have gained additional values which makes them THB 1 million more expensive as of now.

Aspire Wutthakat SurroundingAP_Wut_1-012

The Tempo Grand Sathorn-Wutthakat more than half way to fully constructed.

Aspire Wutthakat SurroundingAP_Wut_2-1-014

The Key Wutthakat Condominium verging on its fully complete form.

Getting There

  1. Public Transit – BTS: Travel by BTS from the nearest station to Wutthakat station and exit through the gate 3. Note that one shall pay additional 10 baht for re-entering the platform to use a different gate if he or she exits through the wrong one. Aspire Wutthakat and PE:LA Wutthakat are within 200-metre walk of the station.
  2. Personal Vehicle: There are two following directions one can choose to take depending which end he/she is coming from.

2.1 For the first direction, drive along Sathorn road across Tak-Sin Bridge past Wongwian Yai and Pho Nimit BTS stations and make a right at the intersection with Ratchadapisek road. Go along Ratchadapisek road until approaching Thapra Intersection, do not cross the bridge but keep left toward Thoetthai. Drive along the road and before arriving at Talat-Phlu intersection, turn left to Thoetthai road. Keep straight until approaching a T-junction, turn left to Wutthakat road, past The Key Wutthakat II, and just before arriving at PE:LA condominium and Wuttakat Station, turn left to enter Aspire Wutthakat.

2.2 The second direction is much less complicated than the pre-mentioned route. Drive along the expressway toward Ratchapruek past Bang Wa BTS station and when getting near the Wutthakat-Thoetthai-Ekkachai signpost seen on the left off-highway, keep left to descend the expressway off-ramp. Make a left at the intersection to Wutthakat road, continue along the road approximately 200 metres past PE:LA condominium and make a right at the junction near Soi Wutthakat 19.

Aspire Wutthakat SurroundingAP_Wut_ 20-010

Drive along the expressway toward Sathorn, past Bang Wa BTS. Then look for the guide post of Wutthakat Road on your left.

Aspire Wutthakat SurroundingAP_Wut_ 21-011

Keep left as passing that signpost and descend the expressway off-ramp. Then make a left at the intersection with Wutthakat road, and go straight about 200 metres passing PE:LA condominium. After that, slow down and keep right ready to make a right to enter Aspire Wutthikat.

Note: Due to the ongoing construction of Aspire Wutthakat, the condo head office is temporarily located with Aspire Sathorn-Thapra condominium, steps from Talat Phlu BTS station through the gate 3-4.

Nearby Amenities

1. Street Food Talat Phlu (Phlu Market)

Truly so-called Street Food Paradise. This market is full of street food vendors with Thai traditional unique cuisine in business as long as anyone there can remember. One of the most delighted food of Talat Phlu no one should ever miss out on is the Chinese chives cakes that are divine and delicious with a taste of local essence. Conveniently located near Talat Phlu intersection, steps from Talat Phlu railway station.

2. The Mall Thapra

This long-established shopping mall is centred on Thonburi district, near Talat Phlu BTS station. The residents of the condominium shall conveniently commute to the mall by BTS from Wutthakat station to Talat Phlu and take minutes of walk (or ride the motorcycle at their convenience). The Mall Thapra is the only reservoir of urban living experience around here offering brand name clothes shops, banks, fast casual restaurants and such.

Show More

Analysis

Rate of Return Analysis

Aspire Wutthakat is a perfect little home for any small-sized family but despite that, has been showing a low potential for investment by far. Renting out the condo unit doesn’t contribute to greater earning capacity of a person judging by the rate of rent prices offered by the nearby condominiums including The Key Sathorn-Ratchapruek and Aspire Sathorn-Taksin (Timber Zone), which are in range of THB 10,000-14,000 a month.

Note: The condominiums sited along Ratchapruek road have a greater potential for price uplift than those mid-rise set along Wutthakat road as they’re taller and closer to the BTS. Considering the current state of affair, Aspire Wutthakat or any condominiums in Wutthakat zone alike can enjoy the rent rate of THB 3,000-7,000/ unit a month. In the meantime, the average rent prices of the condominiums close by Talat Phlu BTS station range from THB 10,000-15,000/unit a month, which are approximately twice as much.

Nearby Condos

1. Ratchapruek-road-based

1.1 The Key Sathorn Ratchapruek

Aspire Wutthakat Analysisthe key sathorn-003

The Key Sathorn-Rachapruek

Launched by Land & Houses in 2012 on medium 7-2-57.5 rais of land, the entire project consists of 4 buildings inclusive of a ready-to-move-in 23-storey building, 7-storey building, 3-storey building, and 48% 7-storey parking space serving around 403 cars. The total number of residential units is 834 units which come in layouts of 1-2 bedroom ranging in 5-63 sq.m. in sizes. Its official starting price is THB 1.73 million, equal to THB 57,600/ sq.m.

1.2 The Key Wutthakat

Aspire Wutthakat Analysisthe key wutthakard-004

The Key Wutthakat

The second product rolled out by Land & Houses in 2013. Expanding on 3-0-20 rais of land containing a 22-storey building with a 53% parking space (worth 234 parking lots) and 441 residential units in total comprising 32.40-33.10-sq.m. 1-bedroom, and 56.30-57.60-sq.m. 2-bedroom. The starting price based on pre-sale was approx. THB 5million/ unit or averagely THB 76,000/sq.m. while under construction to complete in October 2015. The ready-to-move-in 2-bedroom units are fully furnished and offered at THB 4.5 million/unit.

1.3 Aspire Sathorn-Taksin (Timber Zone)

Aspire Wutthakat Analysisaspire tiber zone-005

Aspire Sathorn-Taksin (Timber Zone)

The condo project developed by AP (Thailand) was undertaken on 2-3-77 rais of land and fully constructed ready to move in now. The starting price is THB 1.75/unit, whereas the presale rate ranged from THB 65-3.35million (approx. THB 63,000-74,000/sq.m.) before. The condominium constitutes a 25-storey building with 1 shop unit, 195 parking lots (35% parking space), and 546 residential units with 1-2 bedroom floor plans ranged in sizes of 26-45 sq.m.

1.4 Aspire Sathorn-Taksin (Brick Zone)

Aspire Wutthakat Analysisaspire brick zone-006

Aspire Sathorn-Taksin (Brick Zone)

The other product of AP (Thailand) was introduced in year of 2014, with 35% allotted parking area (140 cars) and two planned 8-storey buildings with a combined total of 364 28-sq.m. studio units enclosed within 4-9-94.7 rais of land. The starting per-unit price was said to be THB 1.63 million or approx. THB 60,000/sq.m. but the price now is actually THB 1.69 million/ unit.

1.5 Ideo Wutthakat

Aspire Wutthakat AnalysisIDEO Wuttakard-001

Ideo Wutthakat

Developed by well-known Ananda Development with its debut in 2013, expected to complete in 2016 with a fully developed 31-storey tower containing 5-storey parking space and 949 residential units of 20-21-sq.m. studio, 21-30-sq.m. 1-bedroom, and 45-sq.m. 2-bedroom over 4-0-19 rais of land. For sale at the opening price of THB 1.59 million/unit (THB 78,000/sq.m.). The current price per unit is THB 1.9 million.

1.6 Tempo Grand Sathorn-Wutthakat

Aspire Wutthakat AnalysisThe Tempo Grand Sathorn-Wutthakat-002

Tempo Grand Sathorn-Wutthakat

In 2013, Built Land Plc presented a 32-storey building and 24-storey under construction for pre-sale with a combined total of 1,004 excellently designed units and 48% car space (450 lots). This condominium covers 5-3-53 rais of land and comes with the floor plans of 29.7-37.2-sq.m. 1-bedroom and 56.79-sq.m. 2-bedroom. It was initially offered at THB 19 million/unit (approx. THB 74,000/sq.m.) and later rose to THB 2.35 million/unit. The complete construction is expected to take place in 2016.

2. Wutthakat-road-based

2.1 PE:LA Wutthakat

Aspire Wutthakat Life Style1-001

PE:LA Wutthakat

Encased in a narrow landscape worth 1-1-51 rais, near Soi Wutthakat 21. Under auspices of Chanuntorn Development, a luxurious 21-storey building sets out 47% parking space and 190 exclusively designed residential units in wide layouts comprising 33-54.5-sq.m. 1-bedroom, 58-109-sq.m. 2-bedroom and 5-92-sq.m. duplex. The opening per-unit price was THB 2.3 million (equal to THB 71,000-73,000/ sq.m.). The current selling price has gone up to THB 2.49 million. Expected to come to fully constructed form in 2016.

2.2 The Key Wutthakat II

Aspire Wutthakat Analysis201309191456213464-002

The Key Wutthakat II

New condominium under development by Land & Houses. No information available as of July 31st, 2015.

Show More

Summary

Making a home purchase today is not only about finding a place where anyone can truly feel at home and enjoy the comfort in their own skin, but also related to the monetary reward from renting or selling out the home they no longer want to live in. By looking at this case, Aspire Wutthakat is a dream home worth a lifetime stay rather than a temporary settlement to be put up for sale/rent on and off. Recouping the expenses on the purchase price rapidly by renting out your property, or making dreamlike profits by selling it several years from now, such chances are pretty slim here to be frank. Like a two-sided coin more or less, Aspire Wutthakat wouldn’t be whole without either one of strong and weak characters, of which the strongs are represented by its extreme proximity to the public transit and incredibly low price offer, and the weaks are recognized as the difficulty to travel by road and frustrating and enduring traffic jam. Nevertheless, the buyers should keep in their mind that even though buying a home sided by the BTS line may not turn out all they want, it indeed helps them save other costs that would’ve been spent if they were to live elsewhere in a long term, especially fuelling and maintenance costs for a car. Besides, driving confusing roads is not such a cost hard to bear.

This project review is written by Kittikom, a full-time reviewer at DDproperty.com, the No.1 property listing portal in Thailand. For any questions, please email to kittikom@ddproperty.com.

For latest property news to automatically send email reports, click here for a free subscription.

Show More
Eric Wong

Kittikom

หนุ่มนักเขียนแห่งวงการครีเอทีฟที่สั่งสมประสบการณ์ด้านอสังหาริมทรัพย์จากการคลุกคลีอยู่กับงานโฆษณาด้านการลงทุน พลิกโฉมตัวเองเข้าสู่กลไกวงการอสังหาริมทรัพย์อย่างจริงจังด้วยการเสนอมุมมองเชิงวิเคราะห์รีวิวโครงการใหม่ๆ ในสไตล์ของผู้อยู่อาศัยคนหนึ่ง บอกเล่ารายละเอียดอสังหาฯ อย่างเจาะลึกเสมือนพาคุณไปสัมผัสกับพื้นที่จริง