The condominium sector on the Thonburi side of Bangkok is expected to boom according to the Director-General of Thailand’s Real Estate Information Center (REIC).
Samma Kitsin, reporting the findings of a recent survey by his organisation, noted the areas alongside the BTS skytrain line from Krung Thonburi to Bang Wa have high potential for residential development.
He added that commuters will spend less than 25 minutes travelling to Siam station in the centre of Bangkok from these areas.
The REIC survey found a total of 31 condominium projects had been sold since 2009 within a 500 metre radius of BTS stations along the extension. These account for some 14,900 individual units.
Land prices along Krung Thonburi road have reached as high as THB400,000 per sq wah.
The Thonburi side of Bangkok has long been deemed to be unfashionable, despite being as close to the centre of the city as the more high-profile Thonglor and Ekkamai areas where condominium prices are considerably higher.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
Recent stories you may have missed:
MUST READ: Singaporeans and Indians are the biggest buyers of Thailand property
Expat rental rates will continue to rise
English language boost for Thai real estate agents
Bangkok office vacancies at a 20-year low
If you have a property story you want us to publish email: andrew@allproperty.com.sg