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Bangkok Luxury Residential launch in Sukhumvit area avg. at THB 200,000/sq.m. Q4 2012

By on May 28, 2013 in Research

q4_12_bkk_res_mvFIRST  SUPER  LUXURY  CONDOMINIUM  LAUNCHED  IN SUKHUMVIT  AREA  AT  THE  AVERAGE  ASKING  PRICE  OF THB 200,000 PER SQUARE METRE

In  this  quarter,  we  have  seen large  public  listed  developers such  as  Supalai  and  Sansiri coming  back  to  launch  high-rise condominiums  in  the  downtown market. The hottest condominium project  was  the  XXXIX  by  Sansiri. This  project,  located  in  Soi Sukhumvit  39,  was  the  most expensive  project  that  has  ever been  launched  in  the  Sukhumvit area  with  the  average  asking price at THB 200,000 per square metre. This project was according to Sansiri sold out within days of the  launch,  offering  a  smaller range  in  size  of  one  to  three bedroom than other super luxury projects.  This  project  was, according  to  Sansiri  sold  out within  days  of  the  launch.  The sizes of the one to three bedroom units  were  smaller  than  other super luxury projects at this price level.

Sukhumvit  soi  39  and Charoenrat/Sathupradit  in  the Rama III area are expected to be new  hotspots  for  downtown condominium  market.  Sukhumvit soi  39  has  a  close  proximity  to mass  transit  and  near  the  new Emporium, Emquatier.

Resale  prices  for  the  best completed  projects  continue  to rise. The best quality projects with good accessibility enjoyed greater price  appreciation.  The  steady increase in land prices especially along  main  roads  and  rising construction costs means that any new  development  in  the downtown  area  will  have  to  set prices above existing levels.

This is an extract from CBRE‘s Bangkok Residential MarketView Q4 2012.  To read the full document please click here.

Toby has been living in Bangkok for a number of years and has a strong research background. With his years in Thailand Toby brings a wide range of property knowledge to his research writing

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