Greater Bangkok’s single detached house market remained strong since last year, which resulted in a year-on-year price index increase for five quarters in a row. Mr. Vichai Viratkapan, the Real Estate Information Center (REIC)’s acting director-general, stated that the price index for new single detached houses for sale in Greater Bangkok continued to rise in Q3 2023.
Thailand’s Branded Residences have become Asia’s most popular
Branded Residences are one of the most intriguing and popular among real estate trends, with Asia having the most number of branded residence projects launched in the world. According to C9Hotelworks, Thailand has the largest number of branded residences in all of Asia. In comparison to the Philippines, Vietnam, Indonesia, Cambodia, and Sri Lanka, Thailand has up to 5000 units from 34 projects.
Chatchart to make Bangkok one of the top 5 most desirable cities by 2027
Bangkok governor Mr. Chatchart Sittipunt delivered a special speech on “Bangkok’s Vision for the Future and Real Estate Sector”. According to the speech, both condos and the city complement each other in line with the Urbanization trend. The trend involves the migration of the population towards urban areas. With Bangkok being a capital city with great potential, foreigners are interested in living and working here, contributing to the overall benefit of the country.
Being the governor of Bangkok, Mr. Chatchart’s goal is to make the city desirable for everyone. He envisions Bangkok as one of the top 5 most desirable cities worldwide by 2027. This will be achieved through improved efficiency, enhanced quality of life, creating opportunities, and fostering trust.
Ministry of Transport accelerates processing of three legislations to boost the economy
For the Ministry of Transport, there was a push to accelerate the processing of three pending legislations in hopes of boosting the economy. These pending legislations include railway transportation draft laws, draft laws on the Land Bridge between Chumphon to Ranong, and the unified railway ticketing, which is expected to be ready by 2025 as well as the launch of the massive land bridge project to increase transport connectivity in Thailand.
Construction Cost Index increases by 1.5%, Steel prices drop by 10%
In comparison to the same time period of last year, Q3 2023 saw a 1.5% increase in construction costs. This spike in construction costs can be attributed to the increased compensation for design and construction work. There were also at least four categories of construction material prices that saw price reductions. These include steel, sanitary ware, concrete, and plumbing equipment.
Most notably, steel products saw up to a 9.6% price reduction in comparison to the same time period of last year. This came as a result of global market price reductions in response to the reduced supply and demand for steel.
Singha Estate launching 5 Billion Baht Projects in Q4
Singha Estate will launch two new low-rise housing projects worth 5 billion baht in Q4 2023. Mr. Nattavuth Mathayomchan, Singha Estate's chief residential development officer, said these projects would introduce a new brand known as Shawn. This new brand would focus on low-rise houses priced between 15-30 million baht.
These two new projects under the Shawn brand will be in the Ram Intra and Chatuchote areas of Bangkok. Here in these areas of Bangkok, there is a notable demand for low-rise housing in the upper-end segment.
Housing Developer Sentiment Index Declined in Q3 2023
In the third quarter, the sentiment of housing developers declined for the next six months. The biggest drop traced back to employment concerns following the government's announcement of a daily wage of 400 baht next year.
According to Mr. Vichai Viratkapan, acting director-general of Real Estate Information Center (REIC), the next six month's sentiment dropped to 60.1 in Q3 this year. In comparison, the previous quarter's sentiment was 62.1.
20-baht fare prices stimulate Red and Purple sky train-adjacent properties
One of the biggest government policies announced was the "20 baht sky train fare for the entire ride" policy. This policy made its way to both the red and purple sky train lines, with both lines reducing their fares to 20 baht for the whole route.
According to Mr. Issara Boonyang, advisor to the Housing Business Association and the Managing Director of Ganda Property Limited, the policy helps reduce the cost of living for commuters. This is because the reduced fares influenced a shift in travel behavior. For real estate, this policy also resulted in the dispersion of high and low-rise development around terminal stations. This is due to affordable railway transportation contributing positively to real estate development.
New Condo Price Index declined due to unsold units
Price index for new condos in Nonthaburi and Samut Prakan declined for four quarters in a row due to an oversupply of unsold units from older projects. According to the Real Estate Information Information Center (REIC)'s acting director-general, Mr. Vichai Viratkapan, the ongoing price index decline in the two provinces could stem from old projects lingering on the project since before 2021. He also stated that these projects had lower development costs than newer projects. Despite these condo units costing less than newer projects, the target buyers' purchasing power for these projects got affected by the rise in interest rates.
Foreigners account to 18.8% of new property transfers in Bangkok
According to the president of Agency for Real Estate Affairs (Area), Mr. Sopon Pornchokchai, foreigners accounted for 18.8% of new property transfers in the first half of this year. Last year's foreigner property transfers were 11%, while pre-pandemic records were 15%. The agency speculates that foreigners will buy up to 4,203 residential units in metropolitan Bangkok. This would total up to 20.36 billion baht.
Hello and welcome back to PropertyScout! Today, we're gonna be having a look at yet another luxury condo project in Ekkamai district that's made an excellent first impression right from the start. That can be none other than Rhythm Ekkamai Estate, join us today and let's have a look at what makes this project special!
Rhythm Ekkamai Estate
Location
Rhythm Ekkamai Estate is a condominium project located in the Ekkamai district, close to Ekkamai Soi 1. It can be considered as located right at the opening of the soi as it is just about 1 kilometer away from Sukhumvit Road. The area is filled with a wide range of amenities, including restaurants, shops, and even a Japanese department store, Donki Mall.
Its proximity to Donki Mall allows easy access to Thonglor, making it incredibly convenient. If you wish to venture to Sukhumvit Soi 71, you can do so via Ekkamai Soi 12. For public transportation, it's also easy to access the main road to catch the BTS.
Accessibility
By Car: Accessing Rhythm Ekkamai Estate by car is incredibly convenient. You can drive along the Ekamai Road for approximately 1 kilometer and you will find the project right away. You also have the option to use the Soi Thonglor 10 route through the Donki Mall area.
Public Transportation
BTS: Approximately 1.1km away from the BTS Ekkamai station.
Taxis and Motorcycles: You can use pickup request services from apps such as Line Man or Grab.
Amenties
Shopping & Market
DONKI Mall Thong Lo, Big C Supercenter, Index Living Mall, Tops Ekkamai, Eight Thong Lo, Foodland, Park Lane
Restaurants
ร้านอาหาร สบายใจ (ดั้งเดิม), 肉々亭 Shishitei sukiyaki shabu, Patisserie Rosie, Shakariki 432, เฮียให้, (un)FASHION Vintage Collection, Tamnak Isan Ekkamai, จักรวรรดิ ชิลล์ เรสโทรบาร์ @เอกมัย, Nowhere, Tsu Na Gu, Happy Bird’s Day, Dog in Town Ekkamai, Seiniku-ten Ekkamai, Spicy by Nature, Patum Cake, kuro house, เฮงหอยทอดชาวเล เอกมัย14, The Weekend Cafe&Bar, SAN KYU PREMIUM YAKINIKU 三休 | @EKKAMAI, Hummus Heads Bangkok – “مطعم لبناني ،حلال”, StatusThonglor, Teppen Entertainment Yakiniku Dining, Shoutaian 2nd Rich, La Dotta Pasta Bar & Store (Thong Lo), BENKOFF, Kakurega Hanare, AUDREY CAFE & BISTRO, หอมด่วน, Fatboy Izakaya
Pubs and Bars
The Bar Vagabond, In the Mood for Love, The Cassette Music Bar, Babyface Bangkok, NCA Club Nerve Chrome Astro, Have A Nice Day Tea House & Bar, COTTON CLUB BANGKOK, Home Ekkamai, Thay Ekkamai, TERRA Thonglor 10, Atmos Thong Lo 10
Schools
Kirakira Kids International Kindergarten School, Pallies International Daycare/Preschool, Matthayom Wat That Thong School
Temples
Wat That Thong
Hospitals
Sukhumvit Hospital
Fitness
WE Fitness Sukhumvit – Ekkamai
Pet Friendly area
Charoensuk Animal Hospital (CAH)
Other
The Embassy of the Federal Republic of Nigeria, Bangkok
About Project
Rhythm Ekkamai Estate
Rhythm Ekkamai Estate is a brand-new, luxurious condominium project in the Ekkamai district, and it's exclusively developed by AP Thai. AP Thai is a well-known real estate developer with a wide range of properties in their portfolio, including houses and condos. Their condo projects include Life, Aspire, and Rhythm, while their upscale offerings include Vittorio and The Address. For those interested in houses, they have well-known townhome projects such as Baan Klang Mueang, Pleno, and District. Additionally, they offer single houses, home offices, and much more.
This project focuses on a design that feels like home, drawing inspiration from the charm of older homes in the Ekkamai area. These older homes have a unique appeal, and this project aims to capture that essence while incorporating a New Vertical Home style. This combines the balanced design principles of art with the wisdom of traditional Thai architecture from a designer with over 50 years of experience.
The common areas within the development are equally impressive. They've put a lot of thought into the design, aiming to enhance the quality of life. With over 10 floors of common space and the incorporation of world-class technology, including Technogym and a Wellness Spa on the rooftop, they've created a beautiful and functional environment for the residents.
The project itself features a 32-storey high rise building all within 2-0-84.10 rai of plot area. There are a total of 303 residential units available and one store, which totals up to 304 units available.
The following are the types of residential units available:
1 Bedroom
35 sqm.
1 Bedroom Plus
39.50-40 sqm.
2 Bedroom
74.5-86.50 sqm.
2 Bedroom Duplex
64-129.50 sqm.
Sky Villa
109-121 sqm.
Penthouse
100-177 sqm.
Facilities
Elevated Lobby
G Floor
Chamcuri Outdoor Terrace
Chamchuri Outdoor Terrace
The first thing you'll encounter when you enter the project is the beautiful Chamchuri Garden right at the front. The name "Chamchuri" comes from the Chamchuri tree that has been a part of this land for over 50 years. The project decided to preserve these trees, as they are a symbol of this place.
2nd-6th Floor
Multi-Storey Social Zone
Multi-Storey Social Zone
Once you step into the project, you'll find the lobby, which is divided into two sections. The first part is the Multi-Storey Social Zone. Here, you can relax in a warm and cozy atmosphere with soft, warm lighting and various pieces of furniture. They've also designed this area with high ceilings to create a spacious and open environment for you to unwind.
Multi-Storey Quiet Zone
Multi-Storey Quiet Zone
The other half of the lobby is the Multi-Storey Quiet Zone, located on the second floor. This area is all about creating a peaceful and serene ambiance. It's decorated to provide a sense of tranquility and relaxation, with comfortable seating for you to unwind.
Meeting Room
Meeting Room
The meeting room is on the bottom floor, and they come fully equipped with office facilities, including a complete set of tables and six chairs.
7th Floor
Grand Terrace
Grand Terrace
Moving up to the seventh floor, you'll find the Grand Terrace. It is a cozy indoor relaxation area close to the landscaped garden. Inside, the décor is warm and luxurious, featuring stylish furniture and a soothing color palette.
Floating Garden
Floating Garden
Outside, there's a garden that features a swimming pool, play areas, and plenty of cozy spots to relax. If you've had a long day and need a place to unwind, then you are at the right place!
Flexible Lobby
Flexible Lobby
As you step inside, you'll come across the lobby. It's not just a regular guest reception area; it's a lobby designed for residents to sit back and relax, enjoying beautiful views through the well-placed windows on the seventh floor. This floor is at just the right height, not too high and not too low, offering you great views. The interior is adorned with bright and comfortable furniture, along with floor-to-ceiling glass windows.
Tea Pavillion
Tea Pavillion
The Tea Pavilion can be seen as a cozy corner for sipping tea or simply a place to relax. Inside, it creates a warm and intimate atmosphere for meeting and mingling with others.
Theater Pavillion
Theater Pavillion
The Theater Pavilion, also known as the movie room, is a space that can be turned into a dark room for a cinematic experience. Additionally, they provide a projector for your convenience.
Triple Rooftop
Triple Rooftop
31st Floor
360 Infinite edge pool
360 Infinite Edge Pool
Let's start with the 360 Infinity Edge Pool. This pool is a saltwater pool with water overflowing, stretching a whopping 28 meters in length. If you're wondering about the 360 degrees, it means you can enjoy a complete panoramic view all around. The pool surrounds the central facilities area, and on the sides, you'll find Honeymoon Sunken Seats for added relaxation.
Observation Deck
An extension in which you can get a good view of the surroundings.
32nd Floor
Sky Lounge
Sky Lounge
Moving on, you'll find the Sky Lounge with comfortable seating. The upper part is adorned with elegant chandeliers, and the entire project is surrounded by full-length glass on this floor, offering stunning city views. There's also a Sky Library on either side for you to enjoy.
Sky Fitness & Private Fitness
Sky Fitness & Private Fitness
Next up is the equally beautiful gym, featuring workout equipment from Technogym. Thanks to large windows, you will also be able to get excellent views of your surroundings as you workout.
Sky Wellness spa
Sky Wellness Spa
This area is like a relaxing spa, a place to escape the everyday stress and rejuvenate both your body and mind. It features a White ION Bath that generates micro-level oxygen bubbles, helping to revitalize your skin and body at the cellular level. It's a place for you to unwind and radiate from the inside out.
Steam and Sauna
33rd Floor
Rooftop Garden
Rooftop Garden
Onto the rooftop, and this is where you'll encounter a lush garden. Here, you'll find an abundance of relaxation spots, including numerous seating areas and Sunken Seats. Thus, it's a perfect place to unwind and enjoy the outdoor space.
Parking Capacity
Rhythm Ekkamai Estate features parking inside the building, allowing for a maximum parking capacity of 202 cars.
*Not including double-parking.
Highlights
At Rhythm Ekkamai Estate, there's more than 5 rai of green space. This project is all about maximizing green areas, both on the exterior of the buildings and within the facility itself.
Getting to Sathorn is easy from this location, as the project is conveniently situated near the BTS Talat Phlu and the BRT Ratchaphruek. This makes commuting to Sathorn a breeze, which is ideal for those who work in that area.
Floor Plan
1st floor
At the first floor, the first thing you'll notice is how close the entrance is to the opening of the soi. Upon entering, you will first encounter the project's garden. Moving on, and you will find the project building. In the building, you'll find the lobby and other sections.
2nd – 6th floor
The 2nd to 6th floors are solely dedicated to parking spaces.
7th floor plan
The 7th floor features a blend of residential units and the shared facilities. Here, you will find the swimming pool, garden, lobby, and the Theater Pavilion. In terms of residential units, there are a total of 5 units available on this floor.
8th floor plan
Onto the 8th floor, which is solely dedicated to residential units. There are 15 units available in total.
9th-30th Floor
31st floor plan
The 31st floor features a loop pool with other amenities such as the gym in the middle.
32nd floor plan
This area is positioned above the swimming pool and features amenities such as the lounge, library, fitness center, and spa.
Types of Units
1-Bedroom
Unit Plan
Type A1-01 – 35.00 sqm.
Starting off, here we have the 1-Bedroom unit. This unit measures around 35 square meters in size.
Each room is fully-fitted, meaning it comes equipped with everything you need. When you enter, the first area you'll see is the kitchen with an I-shaped countertop. To the side, there's a shared bathroom, accessible from both the kitchen and the bedroom. Moving further inside, you'll find a spacious living room and a bedroom with an attached balcony.
Other 1-Bedroom unit plans
1-Bedroom Plus
Unit Plan
Type B1-04 – 40.00 sqm.
Next up is the 1-Bedroom Plus unit, coming in at 40 square meters in size.
Upon entering, you'll find the kitchen with countertop. Next up is the shared bathroom. Inside the living room, it's similar to a one-bedroom unit. There's a small extra room attached to the bedroom. You can use this extra space as a home office or a dressing area.
Other 1-Bedroom Plus unit plans
2-Bedroom
Unit Plan
Type C1-07 – 74.50 sqm.
Here we have the 2-bedroom unit, coming in at 74.5 square meters in size.
From the floor plan, you'll immediately notice the living area with an attached balcony. The kitchen is separated in this area. Moving further in, you'll find the shared bathroom on the right, directly across from the small bedroom. Inside the main bedroom, everything is private, including the bathroom with a bathtub.
Other 2-bedroom unit plans
Duplex 2-Bedroom
Unit Plan
Type K1-08 – 64.00 sqm.
This project also features duplex units, albeit only as 2-bedrooms, coming in at 64 square meters in size.
Lower Floor
Upon entering, you'll find the kitchen, stairs, and a huge living room. Also included in the lower floor are small bedroom and a bathroom.
Upper Floor
On the upper floor, this is where you'll find the Master Bedroom.
Other 2-Bedroom Duplex unit plans
Penthouse
Unit Plan
Type T1-02 – 100.00 sqm.
Onto the ever-luxurious penthouse unit, coming in at an astounding 100 square meters in size.
Right of the bat, you can see that this unit has been split up zone-by-zone, each with their fair share of large amounts of usable space. These zones include the living area, kitchen, one multi-purpose room, two bedrooms, one En-Suite bathroom, and one shared bathroom.
Other Penthouse unit plans
Sky Villa
Unit Plan
Type G1-07 – 109.00 sqm.
Finally, there's the Sky Villa, featuring a unique green space within. The Sky Villa unit comes in at 109 square meters in size. The layout resembles a penthouse, with minor adjustments, replacing the multipurpose room with the lawn on the outside.
Other Sky Villa unit plans
Price (as of August 2023)
Sales Price
Average starting price: 220,000 baht/sqm.*
Starting price: 7.3M baht.*
Common Area Fees and Sinking Funds
Common Area Fees: 500 baht/sqm.
Sinking Funds: 55 baht/sqm.
**Please be aware that the mentioned prices were accurate at the time of gathering up information for this review, actual prices may vary since.
Final Verdict
Rhythm Ekkamai Estate, a luxurious condominium project, offers top-notch facilities and is situated in a prime location along Ekkamai Road. Inspired by the charm of old houses in the Ekkamai neighborhood, it blends the concept of a New Vertical Home, emphasizing balance and harmony.
The central area boasts over 10 floors and incorporates world-class technology, including Technogym and Wellness Spa, ensuring holistic well-being. Easy accessibility and proximity to numerous amenities makes this a true gem in the Ekkamai area.
Interested in Rhythm Ekkamai Estate? Click the links below!
Step into the world of interior design as we unveil the hottest trends for Thai homes in 2023-2024. Thai interior design draws inspiration from the country's rich culture and natural beauty. In this blog post, we'll explore the popular interior design trends in Thai homes now and what we could see in 2024. Let's dive in and discover the perfect harmony of old and new!
2023 Interior Trends
Colors
2023 Color Trends
Neutral colors include cream, beige, grey, white, or black. These color choices became popular due to versatility and timelessness. These colors create a calming, serene space and a welcoming atmosphere. These colors also allow you to test the waters with different warm and cool tones.
From pastels to metallics, or bright red to cobalt blue, there are also many shades of bold colors to choose from. Through the use of one color or a combination, you can create an atmosphere that is unique and memorable. You also have the option to pair those color choices with furniture and lighting of your choice. That way, you can breathe more life into your home interior.
Furniture
2023 Furniture Trends
When it comes to interior design, the key is making the most out of the space available to you. You can include furniture from drawers to bed frames and tables. But what if we told you there are some furniture that can serve more than one purpose? What if we told you that you can get two pieces of furniture combined into one? We're talking about Multifunctional Furniture. This furniture, with its combined functionality, allows you to save space inside. Examples include beds with drawers or folding adjustable tables.
Lighting
2023 Lighting Trends
Layered lighting is becoming very popular in the way of interior lighting in 2023. This involves light fixtures in strategic locations for varying effects and moods. This can help create an inviting atmosphere for leisure seittings. Example include chandeliers, pendant lights, wall sconces, table lamps, and floor lamps.
Wallpapers
2023 Lighting Trends
For wallpapers, geometric patterns are a growing trend for 2023 home interior trends. These designs take after geometric shapes such as circles or squares. They are usually accompanied by color palettes such as monochromatic or primary colors. These designs adopt mathematical principles such as symmetry, scale, and repetition
A popular wallpaper pattern are floral wallpapers. Floral patterns are no longer confined to country living designs. This is evident in the fact that Bangkok urban homes have since adopted this trend. These wallpapers offer a sense of natural beauty and goes great with shades of green or pink.
Flooring
More homeowners are turning to wood flooring for interior designs. Wood is not only a durable and beautiful option, but also a sustainable one. There are different types of finishes to choose from. These range from solid hardwood and engineered plank to parquet floors. Aside from beauty and warmth, you will be happy to know that wood flooring are easy to clean and maintain.
In 2024, the prevailing interior design trends center around sustainability and hygiene. Materials selected should not only provide a feeling of cleanliness and safety. But, they should also be recyclable to address resource scarcity concerns. Also, integrating technology to pave the way for future innovations is gaining prominence.
Final Verdict
As we conclude our journey through the 2023-2024 interior design trends for Thai homes, remember that your living space is your canvas for self-expression. The fusion of traditional Thai elements with contemporary styles and the emphasis on sustainability and hygiene offer endless possibilities for creating a home that reflects your unique personality. Whether you draw inspiration from the lush landscapes or bustling streets, the key to exceptional design lies in your creativity and imagination. So, go ahead and embark on your design adventure, and let your home be a testament to the beauty, culture, and innovation that Thailand has to offer. Your dream Thai home is just a few design choices away!
Begin your search for your new home with us by checking out the links below for an excellent selection of properties throughout Thailand.
In Bangkok, where culture meets modern infrastructure, lies a hidden secret: BTS stations. These train stops may seem ordinary but hold remarkable sway over condo prices and rents. This blog post will uncover how BTS stations can impact the housing market. It's a captivating story of urban development and investment opportunities. So, come along as we explore the world of BTS stations and their impact on Thai condo prices and rents.
Introduction to the BTS Skytrain
The BTS (Bangkok Transit System) Skytrain is an elevated mass transit system that helps people get around in Bangkok. It links different parts of the city and can connect with the MRT (Metropolitan Rapid Transit) and ARL (Airport Rail Link) systems.
Condos near BTS Skytrain stations offer you the best of both worlds. This includes convenient transportation and easy access throughout the city. This eliminates you of traffic congestion concerns, but also saves you time and money.
BTS & Real Estate
Properties near BTS stations saw a marked increase in price, some increasing by 500%. While price growth remained steady, BTS-adjacent properties continue to command premium prices. This is due to the convenience and accessibility offered. BTS-adjacent rental prices also remained higher in comparison to other areas. This reflects the equal demand for living near effective transportation. As a result, the BTS Skytrain has since attracted both Thais and foreigners alike. In particular are foreign investors who recognize the potential for BTS-adjacent properties.
Factors influencing the Demand for BTS-adjacent Properties
The Bangkok Real Estate Market saw a growth in preferences for high-rise condos near the BTS Skytrain stations, which could stem from many factors such as:
Scarcity of land in prime locations near BTS stations makes developers maximize vertical space by building high-rise buildings.
The growing urban density and population in Bangkok makes high-rise condos an efficient solution to the rising housing demand.
BTS station-adjacent high-rise developments offer a variety of amenities ranging from the gym to swimming pools, enhancing residents' life quality.
The proximity to BTS stations allow easy access to transportation, meeting the needs of individuals who seek hassle-free urban living.
Some may prefer low-rise projects, but the demand for BTS station-adjacent high-rise projects remain high due to its blend of urban living, amenities, and connectivity. This trend of high demand for high-rise projects by the BTS station reflects how buyers tend to lean more towards high-rise projects near BTS stations.
Final Verdict
In the vibrant mosaic of Bangkok, we've unraveled how BTS stations hold the keys to condo prices and rents. They're not only train stops; they're gateways to convenience and opportunity. As we conclude this journey, remember that the city's skyline isn't only a view. It's a reflection of urban development driven by connectivity. Whether you're a buyer or investor, understanding the impact of BTS stations on real estate is key.
Have easier access to your workplace or your child's school than ever with BTS, MRT, or ARL-adjacent properties. Get in touch with us today to begin your next move!
Hospitality firm Banyan Tree Group partnered with the owner of a 226-rai plot of land in Khao Yai to develop a 17-billion baht branded residence project. This was to capitalize on the strong post-pandemic demand for second-hand homes. The project will be on the 71-rai plot, which is part of the larger 226-rai plot.
Property developer Magnolia Quality Development Corporation Ltd. (MQDC) will launch a new mixed-use project in Pattaya next year. This came as a result of residential unit transfers worth 10 billion baht at The Forestias in early 2024. The mixed-use development will include residential projects, hotels, retail areas, and a medical & healthcare center.
125 Sathorn's EIA Report and Construction Permit Revoked
According to Ms. Chidchanok Lertamphornpaisan, the juristic person manager at The Met Condominium, the Central Administrative Court has suspended the construction of 125 Sathorn. The project's EIA report was also revoked, after construction had started on September 27th. The case is a lawsuit filed by co-owners of The Met Condominium, located on the same plot of land. The Met has filed this lawsuit against several government agencies involved in approving the EIA report and issuing construction permits for the project.
Central Pattana Planning Mega Mixed-Use Projects in Bangkok
Retail and property developer Central Pattana Plc (CPN) plans to develop five mega mixed-use projects. These projects will launch in Bangkok's downtown and Central Business Districts (CBD), as well as Northern Bangkok. The developments will span between 2023-2027 and cost over 100 billion baht.
Are you ready to begin your property investment journey in Thailand without breaking the bank? Well, you're in luck! In this blog post, we'll explore some budget-friendly property investment opportunities in Thailand. Thailand's real estate market has plenty to offer for those looking to invest.
So, we'll guide you through some smart choices that won't empty your pockets.
Property Investment tips for Beginners
Do your Research
Do your Research
Before diving into property investment, remember this essential tip: 'Do your research!' This means taking the time to learn about the real estate market in Thailand. Learn about property values and the locations you're interested in. Look at trends, talk to experts, and gather all the facts you can. Being well-prepared will help you make smarter decisions and ensure your investment journey starts off on the right foot.
Seek Assistance, Financial and Legal
When you're starting out in property investment, it's crucial to seek advice from professionals. Like lawyers and real estate agents. These experts can help you navigate the complex world of real estate. Guiding you through legal processes and finding the best deals. Their knowledge and support will be like a compass. This will help you make wise choices and avoid potential pitfalls in your investment journey.
Before you jump into property investment, it's important to have a clear vision. Think about your goals. Are you aiming for long-term wealth? Rental income? Or do you want a vacation home? Having a clear plan in mind will help you make decisions that align with your vision. Making your investment journey more focused and successful.
Some Starter Options for your Investment
1. Spacious 4-BR House near BTS Sanam Pao
1. Spacious 4-BR House near BTS Sanam Pao
Starting with a lower-budget property, here we have a 4-bedroom house near BTS Sanam Pao station. This house is in the Phaya Thai district. This means you will have access to not only the BTS Sanam Pao station, but also the Airport Rail Link (ARL) Phaya Thai station. The house features four bedrooms and five bathrooms. It comes in at 490 square meters in size. The sales price for this property is ฿255,000
2. Modern Studio Condo at Venetian Signature Condo Resort Pattaya
Moving onto something slightly more expensive. We have this studio unit in Venetian Signature Condo Resort Pattaya. You can find this unit on the 8th floor of the project building. This unit comes in at 24 square meters in size and is fully furnished. It features one bathroom and comes in at 24 square meters in size. The sales price of this property is ฿1,400,000.
3. Contemporary 1-BR Condo at Lumpini Ville Naklua - Wong Amat
We are back in Pattaya at the ฿1,400,000 price point again with this 1-bedroom unit in Lumpini Ville Naklua - Wong Amat. You can find this unit on the sixth floor of the project building. The unit features one bedroom and one bathroom. It comes in at 23 square meters in size. You can find this project in the popular Bang Lamung district.
In conclusion, property investment in Thailand doesn't have to be a daunting task. We've shown you that there are budget-friendly opportunities out there for you. By doing your research, seeking expert advice, and having a clear vision, you can make smart choices that align with your financial goals. Thailand offers something for every investor. Dive in, make informed decisions, and watch your investment dreams become a reality!
Whether you're an experienced investor or you're just starting out, Thailand has something for everyone. Click the links below to begin your first or next property investment journey today!
Land in Chidlom Linked To Bribery Case Put Up For Auction by Crown Property Bureau
The Crown Property Bureau has announced it will be seeking bidders in December to lease a 12-rai plot of land.
The land, which was previously occupied by the now-defunct Telephone Operators of Thailand head office, is on Chidlom Road. This land will interest leading real estate developers because of its prime location and proximity to several big mixed-use projects.
Developers will have the option to lease the land for 30, 50, or 60 years depending on their plans.
But it will be expensive. The price of the plot has been estimated by the Treasury at 1 million baht per square wah (1 square wah = 4 square meters). However, the market price for land in this area is 3.6 million baht per square wah. Which is, reportedly, the most expensive in Thailand.
Siam Piwat Group, Thailand’s leading retail and real estate developer, has set an ambitious goal to transition all its properties to run on renewable energy by 2030.
Naratipe Ruttapradid, Siam Piwat’s Chief Operating Officer, said “Siam Piwat has long earned recognition from numerous world-class brands for its steadfast commitment to sustainable principles and practices.”
"Our aim is to ensure all stakeholders prosper and thrive alongside us. Moreover, we place paramount importance on environmental preservation across all our operations, promoting resource efficiency and re-utilization.," said Ms Naratipe.
The group is scheduled to enter a memorandum of understanding with global brands focused on sustainability by early next year. The aim is to achieve the goal of net-zero greenhouse emissions by 2050.
Real Estate In Thailand Faces a Glut of Residential Property
Following warnings from the Kasikorn Research Center in mid-September, the Real Estate Information Center (REIC) reported a glut of residential properties in Bangkok and its surrounding areas.
Decreased appetite for lending and rising interest rates have combined to hit the real estate market. Properties in Bangkok (and surrounding areas) recorded a surplus of 206,246 units, with a value of 1.02 trillion baht.
This is an increase of 3.3% and 5.3% respectively, compared to the same period in 2022.
Plans to extend the Yellow Line electric train have been put on hold by the Mass Rapid Transit Authority of Thailand (MRTA).
The plan to extend the line has been put on ice due to a lack of interest from investors, according to the Governor of the MRTA, Pakapong Sirikantaramas.
The plan was to build a 2.6-kilometer extension linking the Yellow Line’s Lat Phrao station to the Ratchayothin area. But this plan has now been put on the back burner, according to Mr. Pakapong.
Are you torn between the allure of a luxury condo and the charm of a private villa? Well, fret not, because we're here to help you navigate this delightful dilemma! In this blog post, we'll break down their pros and cons, so you can decide which one suits your vacation style best. Whether you crave the convenience of a condo or the seclusion of a villa, we've got you covered. So, let's begin and ensure your next getaway is nothing short of extraordinary!
Luxury Condos
Luxury Condos
The Advantages of Buying Condos in Thailand
Accessible to Foreigners
You may have heard that land ownership in Thailand is restricted to Thai citizens only. This means foreigners cannot, in most cases, buy land in Thailand.
But, foreigners have the option to buy leasehold properties, set up a Thai company then buy property or buy the property under the name of a Thai spouse. Provided that you abide by the 49% ownership quota, you should be able to own a condo unit just fine.
From the peace and privacy of low-rise condos to the premium amenities of high-rise condos, you have a huge variety of condos to choose from. Factors that may influence your decision could include the location and surroundings. Or the project's facilities, like a good gym.
You may prefer the more isolated low-rise condos in the suburbs. If you value peace and privacy. You may also prefer the bustle of the city and surrounding amenities of a high-rise condo. So you have easier access to work or your child's school with transportation.
Shared Facilities
Speaking of facilities, both high and low-rise condos offer their fair share of built-in facilities. Familiar inclusions from both high and low-rise condos include swimming pools, gyms, and 24-hour security with CCTV. Some high-rise condos may also offer unique ones unlike any other such as Japanese Onsen. Or sauna pools, golfing areas, libraries, co-working spaces, kids' zones, or gaming rooms.
Lower Maintenance Costs
Condos offer maintenance services. This removes a lot of stress from residents and tenants. Instead of the tenants having to pay for maintenance and repairs themselves, condos collect monthly common area fees. These fees range from 40 to 70 baht per square meter in most cases. However larger projects with luxurious facilities may ask for higher maintenance fees.
The Disadvantages of Buying Condos in Thailand
Homeowner's Association (HOA) Fees and Regulations
As stated before, there will be some fees which condo projects collect from tenants and residents on a monthly basis. This pays for regular maintenance work. While you would be saving costs overall, do keep the regular common area maintenance payment in mind. Failure to make the payment may affect your eligibility for common area usage.
Homeowner's Association regulations may also prohibit certain forms of personalization and decoration.
Depending on the type of condo or where in the condo building you live, your privacy may get impacted. Factors that may impact your privacy include people passing around from door to door. You might see crowds near the elevator, or your neighbors could disturb you with loud noises.
Reselling Difficulties
Reselling a condo in some cases may be even more difficult than a house. For instance, some buyers may not prefer condos due to stronger HOA restrictions. Or they may not like the idea of impacted privacy from noise disturbances. Also, with ever-changing real estate market trends, coming up with a fair asking price in comparison to other neighboring properties may prove to be a challenge. If you decide to let go of your condo unit, it's best to consult a real estate agent for pricing recommendations.
Private Villas
Private Villas
The Advantages of Buying Villas in Thailand
Greater Privacy and Customization Possibilities
Because you're buying a personal villa and not a condo unit near other units owned by other people, you get more privacy. This is due to not having noise disturbances from neighbors. Also, because you're not bound by HOA regulations and policies, you get to customize your personal villa as you wish.
Larger Living Space
Villas often vary in size, with many of them being quite spacious. If you decide to start a family, you have the flexibility to expand your living space to accommodate your growing needs. Whether you want to transform a room for your baby. Or create a dedicated play area for your children, villas offer room to adapt. This flexibility also proves beneficial if you wish to host visiting relatives.
Easier to sell
If you decide to let go, you will be happy to know that selling a house is easier to sell compared to condos. Unlike condos which may not appeal to some who feel overwhelmed by potential HOA restrictions or neighbor disturbances, houses and villas will most likely sell easier due to eliminating those overwhelming concerns.
The Disadvantages of Buying a Villa in Thailand
Villas are Expensive
Being privately located and coming in different sizes or variations, villas are more expensive than condos. In fact, villas could be more expensive than even high-end condo units.
Lack of Private Security
While you get swimming pools and have the option to repurpose certain rooms into anything of your choice, one crucial area you will miss out on owning a villa is security. Because of this, you will have to install CCTV and/or security alarms yourself. And because this is not included by the seller or developer from the start, self-installation of security systems will cost even more money.
Lack of Access to City Centers
Due to its isolated location as a result of the need for sufficient space, villas are not located in the heart of cities. This means you will lack access to transportation, shopping malls, or other known amenities found in city centers. So, if you are someone who needs access to transportation for work or your child's school, opting for a villa might not be a good idea.
Final Verdict
In conclusion, choosing between condos or villas comes down to your preferences and priorities. Condos offer convenience, shared amenities, and a sense of community. Meanwhile, villas provide privacy, space, and the freedom to customize your dream escape. Whether you're drawn to the bustling heart of the city or a secluded sanctuary, both options have their unique charm. Whichever you choose, it's an exciting decision that adds to the anticipation of your upcoming getaway. Happy travels!
From the convenience of condos to the standalone living of villas, click the links below to begin your next journey!
Welcome to an exciting journey into the heart of Thailand's property market! Whether you're a homeowner, an investor, or you're curious, this blog post is your key to understanding the Thai property market.
Buckle up as we take a tour of Thailand's property market, where the past, present, and future converge.
Real Estate Trends in Thailand for 2023
Real Estate Trends in Thailand (2023)
Thailand's real estate industry is one of the most important sectors in the country. Forecasts suggest the market will grow in the next five years.
Residential Real Estate Market
Overview
The demand for residential properties in Thailand continues to grow. Urban areas, in particular, are in demand.
Factors such as lower interest rates, economic growth, and increased urbanization, contribute to the development of the residential property market.
Market Trends
Fluctuating prices and inventory levels vary. Often depending on location and property type. Bangkok and other major cities may experience high demand for condos. But rural areas also have seen increased demand for single-family homes.
The COVID-19 Pandemic also influenced consumers' preferences. As a result of COVID, more people prefer larger homes with outdoor spaces.
Key Factors
Factors that impact 2023's residential property market in Thailand include demographics, urbanization, and government policies. For example, the aging population has led to an increased demand for retirement homes. Government policy also affects demand. When government policy pushes for more affordable housing, there are more buyers in the market.
In the first quarter of 2023, the demand for condos in Bangkok reached over 3,000 units. During that same period, most of the new Bangkok condo supply was in Bangkok's suburbs.
Commercial Real Estate Market
Overview
Thailand's commercial real estate market remained stable. With steady demand and supply for the last couple of years. The market consists of many segments such as office, retail, and industrial space.
Market Trends
Commercial real estate space demand in 2023 could remain strong. For offices and retail space in particular. While vacancy rates have remained low, rental rates have risen over the past few years. This is the case in prime locations such as Bangkok.
The demand for office rentals will strengthen throughout 2023-2025 with the economic recovery. As companies gain more staff, their need for office space will also increase.
Key Factors
The growth of e-commerce and changes in consumer behavior could continue to impact 2023's commercial real estate market. Retailers could prioritize creating experiential shopping experiences to attract customers. This could lead to an increased demand when it comes to retail space. Government policies seeking to promote foreign investment and economic growth could lead to an increase in office and industrial space demand.
As of March 2023, there were seven major office buildings in the works, with over 500 square meters of usable area in BMR (Below Market Rate) and five upcoming projects in 2024.
What we could see in 2024
What we could see in 2024
Next year, a shift is on the horizon in Thailand's property development landscape. This shift is an increasing emphasis on sustainability.
Sena Development, a prominent property developer, seeks to build "Zero Energy" houses in alignment with Thailand's eco-conscious direction. These innovative homes will harness the power of solar cells to generate clean and renewable energy. Ultimately resulting in a significant reduction in greenhouse gas emissions.
In response to the surging popularity of electric vehicles (EVs) developers are also making strides by adding more EV chargers to their projects.
This proactive approach not only caters to the needs of the expanding EV user base. It also makes a contribution to the collective effort to reduce greenhouse gas emissions.
Final Verdict
The Thai property market is evolving, and the future looks exciting. As we head into 2024, it's clear that sustainability will take center stage. Solar cells and EV chargers signify a commitment to a greener, more sustainable future. So, whether you're planning to buy your dream home or explore investment opportunities, keep an eye on these trends. As they promise a more environmentally conscious and vibrant Thai property market.
Begin your next move with us at PropertyScout today! Our dedicated team will be happy to help you should you have any further questions.
