As the space around MRT Rama 9 station is running out, most developers now fleed south in search of a sufficient amount of rais for condo development down Asoke-Din Daeng road. The original plan might have been called off but their plan 2 worked quite gracefully with the discovery of new potential spots in Asoke-Din Daeng area that enable easy accesses to both MRT and Airport Link at once. For that, 2 landmarks were established in that zone by AP (Thailand), including Rhythm Asoke 1 and Rhythm Asoke 2.
Rhythm Asoke 2 is the third development of AP (Thailand) in the area of Rama 9 and counted as only the second in a particular sub-region of Asoke Din Daeng after Rhythm Asoke 1 the 1st project. The developer also implemented other projects lying to the south of Rama 9 area near Airport Link Makkasan station. With many developments by a single developer scattering across Rama 9-Asoke Din Daeng Intersection, the area of Rama 9 has become the domain of AP (Thailand).
RHYTHM Asoke 1 and 2 are located opposite on Asoke-Din Daeng road. For that, Rhythm Asoke 2 gives an easy access to Asoke area, the expressway level 2 as well as Phetchaburi road.
Project Details (Latest Updated on March 17th, 2015)
Project Name: RHYTHM Asoke II
Developer: AP (Thailand)
Address: Asoke-Din Daeng road, Bangkapi sub-district, Huaykwang district, Bangkok
Project Name: 1-2-28 rais of land
Project Type: A 30-storey building covering 346 living units, 1 shop and 136 parking lots. The parking space ranges from B-7th floors. The drainage system and underground pump room and tanks are all located on B floor. 1st floor is designated as the lobby hall, business centre, shop and public restrooms. 2nd floor is entirely the generator room. The facilities at the condo are accessible on 8th floor. The residential units are found from 8th-29th floors in an estimated number of 16 units/floor. Located on are the rooftop, the elevator engine room, tanks and rooftop garden.
Lifts: 2 passenger lifts and 1 service lift.
Construction Start: October 2014
Expected Completion: February 2017
Selling Rate: 80%
Sinking Fund: THB 600/sq.m.
Maintenance Fee: THB 70/sq.m. a month
Average Starting Price: THB 150,000/sq.m.
Average Current Price: THB 160,000/sq.m. (March 17th 2015)
Unit Layouts:
Studio [22.2 – 27.0 sq.m.]
1 bedroom [27.7 – 29.50 sq.m.]
2 bedrooms [42 sq.m.]
The Condo’s Facilities
8th floor consists of a sauna, spa, fitness centre, and rooftop garden.
Layout Review
Furnishings: A kitchen counter and full set of bathroom sanitary.
AC: Fitted
Floor-to-Ceiling Height: 2.6 metre high
Wall: Plastered
Balcony: This only fits the size of a compressor.
Type B01 28 sq.m. (1-bedroom @ the sales gallery)
Type 1-bedroom B02 [28.0 sq.m.]
The location of Rhythm Asoke 2 put its residents in a tight spot making them take quite a lengthy walk from the condo to MRT Rama 9 station. Though they have the opportunity to avail themselves of Airport Link if need be. It’s also indeed excellent to live in RHYTHM Asoke 2 because it’s within driving distances of the reputed attractions and office buildings that allow Rama 9 area to become a new CBD without a say.
To exemplify why Rama 9 is becoming a CBD is to take a look at what highlights there are to offer in this zone. Firstly, Central Rama 9 is a widely-recognized amenity dominating this area as the primary source of all kinds of products related to the consumer’s basic needs, as well as a focal point of recreational places that a person can’t find anywhere but here. But soon, there will be The Grand Rama 9 developed by G Land, which presents a luxury office building along with the headquarter of Unilever Thailand, condominium and retail project, adding another layer of attraction and convenience of Rama 9 zone. Soon the status quo of this area will be re-established a new-born CBD in 3-5 years ahead.
In location perspective, Rhythm Asoke 2 is located around the corner of the crossing between Rama 9 and Asoke-Din Daeng roads which is also close to the on-ramp of the expressway. So the ground roads are as good as convenient. For those in need of MRT, they can walk north from the condo along Asoke-Din Daeng road across Rama 9 intersection and after that continue past 2 more blocks.
As previously stated, Rhythm Asoke 2 is located inconveniently because it takes a long walk from the condo to reach MRT Rama 9 station while those located above the crossing and around Chamnan Phenjati Business Centre would never pose this difficulty on their residents.
If considering someone making use of the expressway or heading into town (Asoke) on a regular basis, Rhythm Asoke 2 is obviously a better choice than Rhythm Asoke 1. But if he or she uses Ladprao or Ratchadiphisek road to head out of town, it’s not a good decision to live in Rhythm Asoke 2. Rhythm Asoke 1 is better off in that case.
So, they have to decide on where to live based on their lifestyle and workplace
Getting There
Lifestyle Amenities
The area in between Rama 9 and Phetchaburi roads is called Entertainment Zone housing a populace of nightclubs, bars, live music venues, and such that hardly sleep. It’s a very popular street that is frequently paid a visit by youngsters and young adults. In addition, the residents of Rhythm Asoke 2 can visit many other places, including Central Rama 9, Terminal 21, Esplanade Ratchada, Central Plaza Ladprao, and so on, by taking MRT at their convenience.
You can make your nightlife a blast going clubbing at RCA, the most famous and largest entertainment and clubbing centre of Bangkok located in Huay Kwang District and within foot distance of Rhythm Asoke 2.
Last but not least, you don’t even need to bother getting out of your condo as there are shops on-site of the condo selling grocery items and serve coffee for the residents’ conveniences.
The average rental prices around this zone are estimated as follows:
Note: The condos out of 500 m range of MRT Rama 9 offer prices cheaper than those within 80 m distance of the station by 40%.
Expected Rate of Return
For a studio [22.2 sq.m.] unit that was purchased for 3.33 – 3.55MB (or Bt 150,000 – 160,000/sq.m.), if renting it out for the average rental price, the expected yield ranges between 4.39 – 5.41%. But whether the yield will go up or fall back down the road, it’s the matter of the competition within this area as well as the country’s economic performance.
Nearby Condos
Ideo Mobi Rama 9, the sole condominium by Ananda Development, is established on the land of 3-2-85 rais, offering 703 residential units and 2 shops on-site coupled with 297 parking lots within its 28-storey building. The 5 layouts available at Ideo Mobi Rama 9 are inclusive of a studio [21-21.55 sq.m. in size], 1-bedroom [30.18-30.27 sq.m.], 2-bedroom [45.04-55.09 sq.m.] and duplex [41.53 – 61.96 sq.m.]. Starting 2.373MB/unit, equivalently Bt 113,000/sq.m. (as of February 11th, 2015). Fully constructed and ready to move in.
Aspire Rama 9 by AP (Thailand) expands 4-2-48.3 rais of land and contains a 23-storey building and 25-storey building, altogether having combined units of 663 residential units and 1 shop. The estimated number of units per floor is 17. Parking space covers for 311 car lots (46-49%) The units at Aspire Rama 9 come in a range of layouts including 1-Bed (32-49 sq.m.) and 2-Bed (49.2 – 66.2 sq.m.), both 2.5 metre high from floor to ceiling. The starting price as of 2012 was 3.1MB/unit or approximately THB 96,800/sq.m. The condo is ready to move in.
RHYTHM Asoke 1, a prequel of Rhythm Asoke 2 project by AP (Thailand). Set over the land worth 1-2-86 rais, it contains a 37-storey building made up of 385 condo units (approximately 13 units/fl), 46% parking space, and outdoor green space. The units come in an array of layouts consisting of a studio of 21.5 sq.m., 1-Bed unit of 31 sq.m., amd 2-Bed unit of 41.5 sq.m. Starting 2.58MB/unit based on the opening sales in 2013, equivalently THB 120,000 – 140,000 /sq.m. The condo development was initiated in January 2014, and is expected to finish in February 2016.
In summary, Rhythm Asoke 2 is situated in a zone that is getting more prosperous as to become another CBD of Bangkok. Characterized by a high concentration of retail and office buildings, this future CBD is also highly accessible with many roads cut through, including the expressway level 2, Asoke-Din Daeng Road, Rama 9 road, Phetchaburi road, and Ratchadaphisek road. Rhythm Asoke 2 is consideringly a good home for those who travel into town regularly, not out of town, which in that case they have to choose Rhythm Asoke 1 otherwise.
In general Rhythm Asoke 2 is located conveniently for those work in Asoke or along Sukhumvit road as the condo’s situated on the inbound lane that head into town. Though it might be little less competent than Rhythm Asoke 1 because it doesn’t have a balcony with a unit for the residents to enjoy outdoor experience. All in all, it is entirely up to the buyers as each person has a different set of interests and preferences, and one of the reasons why Rhythm Asoke 2 would not be of less interest than Rhythm Asoke is because each unit of Rhythm Asoke 2 is functionality- and design-focused that ensures the buyer’s satisfaction.
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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