CARAPACE Hua Hin-Khao Tao one of the interesting projects which is not far from Hua Hin. It is located at Khao Tao beach near Petchkasem road. There are many room types available. The space varies between 26 to 43.53 square meters. Full facilities access in the common area whether it be the Grand Lobby, All Day Dining, Fitness, Swimming Pool, Water park, Beach Club. The price starts from THB3.5 million.
Looking back in 1997 the time when the economy bubble struck Thailand severely, Rama 3 was eye-catching for developing condos as there was growing consumer segment demanding for the riverside properties. After the economy’s recession, Rama 3 zone established itself as one of the business districts.
However the game changed when the urban planning initiative began in 2012 brought up the focus on Sukhumvit’s CBD, which caused Rama 3 zone to drop in attractiveness to investors. Still Rama 3 is on top of people’s minds because there are not many areas abutting the river that can be developed into condos.
It has become a competition among big brand developers to come and get a piece of this land. One of them is Eastern Star Real Estate who successfully developed Star View on the Rama 3 region at the cost of over 3.5BB. A super luxury condo coming with sky pool overlooking a scenic sky view of river and city cutting the sky line. Knight Frank coordinates them to help with the selling and marketing locally. The details are unveiled as follows.
Project Details (Latest Updated on September 17th, 2015)
Project Name: Star View
Developer: Eastern Star Real Estate
Agency: Knight Frank Chartered (Thailand)
Address: Rama 3 Rd, Bang Khlo, Bang Kho Laem, Bangkok 10120
Website: www.estarpcl.com
Project Area: 7-0-25 rais of land
Project Type: A high rise condominium including of a 44-storey building (Tower A) and 54-storey building (Tower B), totalling 556 residential units.
Target: Single families and upgrading buyers.
Construction Completion: By the end of 2015
Security System: Keycard Access System, CCTV & Security Guard.
Facilities: A 100-metre long pool, fitness centre, library, sauna, lounge, 5-rai tropical garden, among others.
Lift: 1 private lift every unit
Parking: 564 parking lots in total (101%)
Selling Rate: 77%
Sinking Fund: THB 500/sqm
Maintenance Fee: THB 35/sqm a month (1 year in advance)
Selling Price: 8.45MB/unit or THB 110,900/sqm
Special Promotion of October 2015: A discount of 2MB on the purchase price and furniture gift voucher of 0.4MB.
Unit Type: 3 fully fitted layouts consisting of:
2-bedroom w 2 bathrooms & total living area of 77 sqm. A total of 414 units
2-bedroom w 2 bathrooms & total living area of 82 sqm. A total of 140 units
3-bedroom w 2 bathrooms & total living area of 163 sqm. 2 units in total (sold out)
Project Details
Type 2 bedrooms, 2 bathrooms, 77sqm
Type 2 bedrooms, 2 bathrooms, 82sqm.
Type 3 bedrooms, 2 bathrooms, 163 sqm
Project Review
“StarView” is a 3.5 billion baht worth condo located perfectly overlooking Chao Phraya River and accessible via Rama 3 road. It expands over 7 rais of land with its outstanding appearance decked out with contemporary and modern design setting itself apart from the rest of its rivals nearby. It provides the best vantage point of seeing Chai Phraya River and comes with 1 private lift per unit as an exclusive feature. There are 8 units on each floor so there will be 8 private lifts each floor. The highlighted facility is the salt water pool as 42x100metre large.
The left photo shows the north of Star View borders upon Charoen Rat road and Krung Thep Bridge while the photo on the right is pictured with the condo’s southern part facing towards Rama 3 regional area.
The left photo is pictured with the eastern side of the building whereas the right photo depicts the western side of building adjacent to the expansive Chao Phraya river.
An expansive, airy room of the lobby with an enclosure of indoor treillage ceiling-mounted over the seatings and tables.
A large green space consisting of lawn, sport ground, golf court, jogging track, pavilion, among others altogether located on 8th floor of the multi-storey parking space.
The 8th-floor plan of the parking space consists of an ample tropical garden and other green spaces.
On the right when exiting the lift (44th floor), a narrow corridor led to the other rooms is present.
After entering the highest landing, the matchless scenic view is rewarded. Exactly on the opposite side of the river is Kasikorn Bank’s office tower.
Layout Review
Type 1 2-bedroom has a living space of 77sq.m. and 2 bathrooms in it. There are 414 units of this type fully fitted with kitchen fixtures, bathroom sanitary, built-in cabinets and wardrobes.
Location
The economy of Thailand started to look better around 2000, got back on its feet so did Rama 3 zone. Following the incident, a number of condominium projects rose within the area. By 2007 the land value even exceeded the amount it was before the economy setback.
In facts despite a number of condominium raised distributed along Chao Phraya River the area wasn’t even ranked top 5 hottest areas. Nevertheless the buyers are still coming around because they’re located near Central Bangkok and offering a unique, sweeping view of the natural streams of Chao Phraya River.
It was a long lived community expanding from the flat land on the south, which is the northern part of Star View. Therefore the view overlooking from the condo can encircle the entire scenery without any high rise structures obstructing. The condo is enclosed by virtually 4 metre high fencing separating from the outside. The only problem is the lack of nearby eating-out places. The residents have to drive to Central Rama 3 to find good dining places.
The condominium is near the main road and BRT Rama 9 Bridge station. There are main roads, expressways, outer ring bridge, among the ways through the convenient road system connecting with Sathorn and Silom. Traffic congestion can be the least of their worries. The selling point is the beautiful panorama of Chao Phraya River and peaceful, serene atmosphere.
Getting There
Star View is a riverfront condo located on Rama 3 road abutting Chao Phraya River over which Rama 9 Bridge extends. It’s also situated on the opposite of Chaloemphrakiat 6 Park as well as 200 metre from BRT Rama 9 Bridge station. The directions to Star View are available as follows:
Option 1: Drive along Naradhiwas Rajanagarindra road towards Rama 3 intersection, then make a right onto the road towards Rama 9 Bridge. Cross the bridge and stay on the right when reaching BRT Rama 9 Bridge station to make a U-turn.
Option 2: Drive along Chan road through the right-curving way abutting Sathu Pradit road towards Rama 3 road, and turn right onto the bridge Rama 9 crossing Chao Phraya River. As passing through BRT Rama 9 Bridge, stay on the right and take the U-turn.
Option 3: Drive along Ratchadaphisek road towards the intersection with Naradhiwas Rajanagarindra road. When reaching there, make a left on the road towards Rama 3. As soon as getting onto Rama 3 road, make a right and cross Rama 9 Bridge. Pass through BRT Rama 9 Bridge station, keep right and make a U-turn.
Option 4: Drive along Charoen Rat road until reaching the intersection with Rama 3 road, then turn the left. Stay on the road for a while and the condo shall be found.
Lifestyle Amenities
Making a straight through the road leads towards Sathorn and Khlong Toei. But turning onto the left split will get the driver to Chan road.
ASIATIQUE The Riverfront: The riverfront al fresco mall of finest restaurants and entertaining hubs.
Bang Krachao: An ample open greenery for the city to breathe. This conservation area is also called the lung of Bangkok set along Chao Phraya River.
HOBS Rama 3 (house of beers): The hub of every kind of beer across the world.
THE UP Rama 3: A shopping centre as well as chilling place in a Portuguese style, newly open in Sathorn-Rama 3 region.
Analysis
Those located either far from the river bank or nowhere near the BTS experienced the average selling price of 86,000 THB/sqm while those closer to or abutting the river had it to THB100,000/sqm. Since the condo is located adjacent to the river and the number of nearby units is limited, it constituted a profitable investment in the long term.
If you want to rent out, Knight Frank who is the condo’s agency, shall be at your assistance. The average rental price of 2-bedroom w 2 bathrooms is about 35,000-45,000THB/unit varied with the unit size.
Nearby Condos
333 Riverside is a condominium project of mixed high- and low-rise buildings in proportion as 2:1, all situated in Bangsue zone, enclosed within 11-1-49.4 rais of land. The condominium offers 950 units for living ranging from 45.5-201.3 sqm in size along with 800 parking lots (78%). The starting price is 5MB or THB 120,000/sqm.
MENAM RESIDENCES launched by Menam Residences Co.,Ltd. situated in Charoen Krung-Sathorn-Rama 3 zone offers 294 residential units with 1-3 bedroom, duplex and penthouse layouts in size of 44.00 – 284.00 sq.m. The entire project area covers 5-0-58 rais of land occupied by a 54-storey building and 345 indoor parking lots. The condo is expected by late 2016. Starting at 8.1MB/unit or THB 180,000/sqm.
Canapaya Residences Rama 3 is developed by Canapaya Property transforming a land worth 4-0-51 rais into one 57-storey building of 224 residential units with 140% indoor parking space. The layouts available at the condo include 1-bedroom type (45sq.m.), 2-bedroom (85 and 93 sq.m.), 3-bedroom (92, 101, 147, and 148 sq.m.), penthouse (192, 227, 420 and 500 sq.m.), 2-bedroom duplex (77 sq.m.), and 3-bedroom duplex (137 sq.m.). The construction is expected to be complete in 2016. The price starts off at 6.2MB or THB 137,800/sqm on average.
Summary
Star View is situated on Rama 3 road within the region that is in great demand—with all convenient accesses to CBDs and profitable opportunities of property ventures. In terms of investment, it’s on the record that the major financial districts of Sathorn, Rajadamri, Ploenchit and Sukhumvit, offer the highest average land price of over THB200,000/sq.m., while the other like Phahonyothing and Ratchadaphisek zones have in common the price of no less than THB 150,000/sq.m. because they have good potentials for investment and significant room for growth. Though it’s to a certain degree harder to develop condos on the spots beyond the citycentric areas.
Naratiwat, Rama 3 and Charoen Rat as well provide the pivotal piece for successful property investment. Just the past 1-2 years, there have been a number of condos and commercial properties settled down in various places enclosed within those zones. From these locations, beautiful views of different angles looking over Chao Phraya River shall exist. For Star View, it has a spectacular view of the river but also settles on the opposite of the Public Park in Commemoration of H.M. the King’s 6th Cycle Birthday, which makes it slightly outstanding from the other. The condo makes an attractive investment that should not be forgot.
This project review is written by Watchara, a full-time reviewer at DDproperty.com, the No.1 property listing portal in Thailand. For any questions, please email to watchara@ddproperty.com.
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