Investor sentiment for prime central business district (CBD) sites and prime income-producing property in Bangkok has remained resilient and has not been affected by the prolonged political turmoil, according to new research from CBRE Thailand.
In its Thailand Investment Marketview Q1 report, the firm confirmed that it believes there will be little in the way of a short-term impact on prices of prime land in the centre of the Thai capital. It based its prediction on a limited supply of prime CBD land sites and properties, combined with very few willing sellers in the market.
To illustrate the strength of the market, CBRE reported that Quality Houses is believed to have recently acquired a prime CBD site by BTS Nana station for what is a record price for the location. The 3.5 rai site (approx. 1.4 acres) on Sukhumvit Soi 6 changed hands for THB2.5 billion – equivalent to THB1.8 million per sq wah.
Pace Development also purchased the freehold rights of its 7.3 rai Mahanakorn project beyond the initial 30+30+30+13 years leasehold from the Catholic Mission of Bangkok for THB 1.45 billion
Land and Houses also reported that the company had acquired a leasehold right on a piece of land
in Thonglor, Sukhumvit, which the company plans to develop as a serviced apartment.
Image: Sukhumvit’s sois are home to some of Bangkok’s priciest properties. Picture by René Ehrhardt Suhl / Wikicommons.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate email: andrew@propertyguru.com.sg