Article | Intelligent Investment
CBRE's Introduction to Condo Grade Classification
December 22, 2022
Many readers will be familiar with terms like "Super Luxury" and "Luxury Level" when referring to condominiums, but you may be wondering how they are different. How are such categories defined and measured? In the following section, we will explain how CBRE categorizes and separates the various types of condominium.
We classify units into six categories based on price per square meter and starting unit price. Classifications are based on the pricing of the majority of units in a project. The classifications can be seen in the following table.
Please note that CBRE has revised its condominium classification in Q1 2018 and this must be considered in conjunction with location.
High-end or above condominiums generally demonstrate common characteristics such as:
- Easily accessible locations
- Good building design, layout, and decor
- Good and secure neighborhoods, ensuring privacy for residents
- Good standard of construction, using high-quality materials and specifications
- Sufficient car parking
- Professional management
- Adequate number of elevators and efficient M&E system
Branded Residences are a common condominium type and are not only found in the luxury and super luxury condo segments. Indeed, Branded Residence projects are now being developed with more variety than ever. Such projects can be houses, and resort homes.
Branded Residence projects are usually managed by reputable five-star hotel brands. This creates a superior standard of comfort and convenience for residents that brings desirable long-term advantages.
Branded Residences are constantly in demand from investors looking to buy and rent. With such high demand and limited availability, deep-pocketed tenants from both Thailand and abroad are interested in such developments. Their luxurious settings bring an unparalleled level of convenience and are more like staying in one of the best hotels in the world, with staff that are knowledgeable, provide excellent service, and take daily care of residents.
Dusit Residences—currently the only project in Thailand by a developer that owns a five-star hotel brand—is one of the newer Branded Residence projects that CBRE can recommend.
Dusit Residences is within the Dusit Central Park project, a joint venture project between the Dusit Thani Group and Central Pattana. Dusit Central Park is a mixed-use project worth THB 46 billion The project has been developed on over 23 rai of land in a prime CBD location in the heart of Lumpini and Silom-Sathorn, a transportation hub with outstanding rail and road connections that allow easy access to other major business districts. It is located across from Lumpini Park, a significant green space in the heart of the city.
To assist you in selecting the ideal condominium, you can speak with our CBRE experts at +66 65 959 9771