Summer Garden, a new condominium in Chaengwattana, is nearing completion and is being touted as a new prime location for residential and property investment purposes, according to Knight Frank, the sole marketing agents for the project.
The development is being developed by Winsome Co Ltd with an investment of THB1bn, the design focuses on the concept of ‘Life Among Nature’. It features a large swimming pool in a tropical-style garden, and also includes a fitness room and jogging track.
Phanom Kanjanathiemthao, Managing Director of Knight Frank, said the show unit in the actual building is now ready for viewing. He added that currently the project has sold 90 percent of its rooms, which range from a one-bedroom unit of 29 to 34 sqm which starts at THB1.55 million.
Summer Garden is located in Chaengwattana Soi 19, 200 metres from Chaengwattana Road. It is close to many conveniences. At the front of the soi is the Software Park building and across the soi is Central Chaengwattana.
The project is also close to the entrance and exit to the expressway, allowing for convenient access to the city as well as the Chaengwattana government offices. Future plans will see the mass transit network extend to the area.
Phanom added that the total condo supply in the Chaengwattana area during the past four years increased by 9,442 units, Demand was for 7,510 units which is 79.5 percent of supply.
The average price of condos in this area was around THB67,000 per sqm in 2013, which is growing by an average of 3.5 percent per year.
He said that if we compare these prices to the average prices of condos in Bangkok’s suburb and peripheral areas that grow at an average of 10 percent each year, the Chaengwattana area presents good opportunities for investment.
Prices have not adjusted upwards as much, and it is an area with much potential, he added.
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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