By Andrew Batt:
The Bangkok suburb of Rattanathibet is experiencing strong interest from property buyers and developers alike, with more than 30 projects and 10,000 units being launched within the last 12 months.
The strong interest from developers is mainly driven by the upcoming completion of the Purple Line mass transit network in 2015 and Central Pattana’s THB10billion Central Westgate complex (pictured) in 2016.
Property prices in the area have grown by between 20 and 30 percent within the last two years, with one-bed condos now commanding THB1 million price tags.
Among the new residential projects are LPN Development’s THB1.5billion Lumpini Park Rattanathibet-Ngarmwongwan condo, Sansiri’s THB1.3billion d’condo Rattanathibet; and AP’s (Thailand) Aspire condo.
Noble Development has alos launched the THB1billion Noble Tara, a detached housing project close to Central Rattanathibet, while Narai Property unveiled its THB1.36billion Parkland Ngarmwongwan-Khae Rai condominium development.
Property Perfect, through its Perfect Place, Perfect Masterpiece and Perfect Park brands, has 10 detached-housing projects worth almost THB10 billion. Supalai has also developed 10 condo projects jointly valued at over THB13 billion in Nonthaburi province through 2012, while SC Asset debuted three residential projects worth more than THB5 billion.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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