Phayathai is not a financial district itself but merely one of those areas situated extremely close to the CBD, which makes it potentially suitable for developing condos. Phayathai is also eyed on for having many famous shopping places and educational institutes centralized within it. Nevertheless, it’s getting more and more difficult than ever before to get good plots of lands enclosed within this area because of the diminishing potential space but also the facts that it is no longer with ease to convince the established householders to give up their homes anymore.
There is a great demand for a home in Phayathai from the buyers, who later rent them out to those rustics who move into town due to work. As a result, the average resale price of second-hand condos has risen by 68% of the original purchase price.
Enclosed within Phayathai zone, there are second-hand condos fully constructed and ready to move in including Villa Ratchathewi, Ideo Q Phayathai, The Address Phayathai, among others. Ideo Mobi Phayathai is another condo in this area that is now sought almost as eagerly as the others.
Project Details (Latest Updated on March 20th, 2015)
Project Name: Ideo Mobi Phayathai
Developer: ANAN (Ananda Development)
Address: Sri Ayudthya Rd, 180 metre from BTS Phayathai station.
Project Area: Approximately 1-2-77 rais
Project Type: A 24-storey building offering 316 residential units and 1 shop. The condo features a lobby, lounge, shop, and garden on the G floor, parking space from the 2nd – 7Cth floors, residential units from the 2nd – 24th floors, and on-site facilities including a fitness, swimming pool, library, laundry room, garden, and changing rooms altogether on the 8th floor.
Parking Space: 129 car lots
Lifts: 2 passenger lifts and 1 service lift
Security: Key card access system
Construction: Ready to move in
Sinking fund: THB 600/sq.m.
Maintenance Fee: THB 48/sq.m. a month
Average Selling Price: THB 188,468.99/sq.m. (1st Qrt 2015)
Average Selling Price as of January 2015: THB 133,333/sq.m.
Unit Layout
Studio [21-23.50 sq.m.]
1 Bed [29.90-30.36 sq.m.]
2 Bed [41.66-60.74 sq.m.]
The condo’s facilities
The 1st floor mainly consists of a lobby hall with a gated entrance secured by a key card access system. No outsider can proceed any further inside without a key card unless someone they know lives at the condo comes to pick them up.
When making an entry into the lobby, the sales counter comes into first sight. The sales representatives are there to coordinate you in the matter of renting out or reselling your condo unit. On the back of the reception counter is the business centre (juristic person office). Within the lobby, there are living corners for guest to sit and relax.
The mailroom is located on the corner of the lobby, near the gated entrance to the passenger lift zone.
The passenger lifts can be accessed from the door near the mailroom.
Go up the lift to the 8th floor and you shall pay a visit at the facility zone, which consists of a library, laundry room, swimming zone, garden, fitness, and locker. There are some living units located on this floor and offering scenic views of the condo’s facilities.
Library
The laundry room comes with a convenient coin-operated water vending machine.
Fitness
A swimming pool
In addition to the laundry room on 8th floor, the laundry service can be found outside the lobby on G floor.
Usual Unit Layout
Furnising: Fully furnished kitchen coming along with curtained windows
Floor to Ceiling Height: 2.6 metre high from floor to ceiling
AC: Fitted
Type 1-Bed Duplex [41.66 sq.m.] on 8th fl
Lower Floor
Upper Floor
Type 1-Bed Duplex [41.66 sq.m.] on 23rd fl.
Lower Floor
• Under-stairs room: Made as a storeroom with some space for placing a laundry machine
Upper Floor
• Bathroom: The entire unit has only 1 bathroom located on its upper floor, coming with a full set of bathroom sanitary and having wet and dry zones. In the dry zone, there are a sink, faucet, mirror, cabinet, and other sanitary wares. The wet zone is provided with a shower box made of safety glass and shower set.
The area of Phayathai is famous for being a focal point of education clustered with tutorial schools offering special courses outside classrooms to enroll in, in order to prepare for the university’s entrance examination as well as gaining particular skills the adolescents will need to learn and establish in their formative years for their future careers. This zone is located within reach of the topmost prestigious establishments in Bangkok, including Chulalongkorn University, Chulalongkorn University Demonstration School, and Triamudom Suksa School. By all these reasons, people with children would undoubtedly want to move in.
In addition, Phayathai station adjoins BTS line to Airport Link, giving a chance for the passengers on BTS to change the train for the passage to Suwannaphum Airport. Those who fly on a frequent basis are surely in need of a lodge at Ideo Mobi Phayathai.
Directional Map to Ideo Mobi Phayathai
Ideo Mobi Phayathai is located on Sri Ayudthya road right on the opposite of Santiratwitthayalai School as well as 180 metre from BTS Phayathai Station. A resident can take an easy walking to access the public transit. There are taxis, mini-trucks and motorcycles parked close by to transport any pedestrians. MaxValue and other shopping malls are also close by the condo.
Getting There
BTS: Take BTS from your nearest station to BTS Phayathai station and exit through Gate 3. The gate will lead to 2 separate paths, the left path connecting to CP Tower Phayathai and the right to Phaya Thai Place condo. Go right and downstairs and make for Phayathai Place along Sri Ayudhya road. Ideo Mobi Phayathai is right next to it and Lawson store as well as on the opposite of Santiratwittayalai School.
Airport Link: Take Airport Link and get off the train at Phayathai station and walk across the skywalk from Airport Link to BTS and exit through Gate 3. Or you can simply leave Airport Link and walk across Phaya Thai Junction.
Personal Vehicle: You can make an easy way to the condo by driving north from Yommarat junction, along Sri Rat expressway toward Sri Ayudthya junction, and make a right onto Ayudthya road. The harder way to do is to drive south from Rama 9 or Victory monument, across Ayudthya road, towards Phayathai road. Make a U-turn and head in the reverse direction towards Phaya Thai intersection.
Nearby Amenities
The zone of Phayathai is located 2 stations away from BTS Siam station, an entrance to the CBD of Siam, surrounded by Siam Discovery, Siam Square, Siam Paragon, and Siam Centre. In the same instant, Siam area is closely linked to the CBDs of Chidlom and Ratchaprasong within easy walking, interconnecting Central World, Central Chidlom, Amarin Plaza, Bangkok Art and Cultural Centre, and MBK, together many small street shopping and hangout places neighbouring them.
Phayathai area is also conveniently located for commuters to head into town like Thonglor or Ekkamai by both car and public transit. RCA is also within driving distance. Nearest to the condo are the night hang-out and chill-out places, like Heap Café & Restaurant and Chilling House Café, in business overnight, located in the zone of Ratchathewi near Hua Chang Bridge.
Comparison With Nearby Condos
| Condominium | No. of Units | Project Area (sq.m.) | Average Selling Price (THB/sq.m.) | Resale Price (THB/sq.m.) | Price Level Change | Average Rental Price (THB/sq.m.) |
| Villa Ratchathewi (2006) | 596 | 40-164 | 80,000 | 169,223 | 112% | 608.53 |
| Ideo Q Phayathai (2008) | 476 | 35-70 | 82,000 | 167,520 | 104% | 689.64 |
| The Address Phayathai (2009) | 152 | 38.80-127 | 103,093 | 168,195 | 63.15% | 649.83 |
| M Phayathai (2010) | 213 | 42-110 | 123,810 | 181,000 | 46.19% | 10% |
| Noble Revent (2010) | 261 | 32.66-66.7 | 110,000 | 159,928 | 45.39% | 666.06 |
| Ideo Mobi Phayathai (2012) | 316 | 21.1-60.74 | 128,000 | 17,563 | 39.50% | 790.12 |
Source: The Agent (www.theagent.co.th)
Bachelors and child-free couples were the majority of buyers of Ideo Mobi Phayathai, given that 2-3 years ago the land prices were relatively low, which resulted in the low purchase price per square metre. Besides, any single families with 2 or more children would outmatch the size of the unit here, quite obviously. In addition, the condo is located near various amenities for the residents to fill up their supplies. The average selling price of condos (including the new ones) within this area is expected to start no less than THB 200,000/sq.m., causing each square wah worth almost 1MB.
For property investors, the rent condo market within the boundary of Phayathai is quite generous in size and majorly constituted of Thai tenants looking for temporary stays. Not many expats are found lodging a rent room at the condos around here. Ideo Mobi Phayathai has the units of small and functional space and ultramodern design, particularly suitable for a single tenant. In the meantime, some condos nearby which have existed for more than 5 years offer large suites for rent.
This project review is written by Kanchana Paha, a full-time reviewer at DDproperty.com, the No.1 property listing portal in Thailand. For any questions, please email to kanchana@ddproperty.com.
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