By Shabnam Muzammil:
Despite severe flooding in late-2011, Rangsit’s property market is flourishing again with many property firms unveiling 16,663 units of high-rise residential projects with a combined worth of nearly THB27.8 billion since October 2012, reported The Nation.
The value of all new housing projects in Rangsit will reach nearly THB50 billion, if these are added to the estimated THB20 billion worth of existing developments already on sale including those built by listed companies NC Housing, Quality Houses, Land & Houses and Pruksa Real Estate.
Meanwhile, LPN Development plans to roll-out 10,000 condo units priced between THB500,000 and THB600,000 at Rangsit Khlong 1 in its Lumpini Township, according to Managing Director, Opas Sripayak.
Demand in the district is expected to rise following the government’s announcement that it will build the Red Line railway between Rangsit and Bang Sue, Opas Sripayak further noted.
The condo project is also near North Bangkok University, Bangkok University, Rangsit University, Thammasart University’s Rangsit campus and Rajamangala University of Technology Thanyaburi. It is also located near Bang Kadee and Navanakorn Industrial Estates.
Meanwhile, Sansiri has introduced its 837-unit dCondo Campus Resort in Rangsit which has a gross development value of THB1.3 billion.
“Although the 2011 flood hit the area, residential demand is still growing,” said Srettha Thavisin, President of Sansiri Plc.
“We believe home-buyers view the flood as a natural disaster, and therefore it has not affected their desire to buy a home in this location,” noted Pruksa Real Estate’s Chief Business Officer Prasert Taedullayasatit, adding that overall the firm sold THB1 billion worth of units.
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg
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