More condominiums are being built in anticipation of electric rail service extensions in outer Bangkok.
Metropolis Properties has become the latest developer to announce its new condominium campaign ‘Interchange’, saying the project has a value of THB5 billion and will contain 1,770 units.
Unit prices will start at THB1.9 million, or 75,000 baht per sqm. Its developments are located near BTS Skytrain stations under construction near Bang-Na – Trad and Teparak roads.
These areas became more expensive after railway construction was announced. The company predicted the price of land would increase further once the BTS Skytrain stations are completed in 2017.
Real estate agency Knight Frank noted that during the past six years, some 15,900 out of 17,000 new condominium units in the Bang-Na – Samrong area were sold.
The agency also revealed that 4,000 units were built last year, due to the various railway extensions.
It also predicted land prices would climb exponentially once the train services become available.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
