When I speak of Thonglor, I mean the main Thonglor road which is Sukhumvit Soi 55. You get off the BTS at Thonglor BTS Station and you can see this very wide road. A lot wider than the typical narrow sois that are perpendicular to the main Sukhumvit Road. If you travel along Sukhumvit Soi 55, you will realise that this is a major artery that leads from the main Sukhumvit Road to Phetchaburi Road.

Sukhumvit Soi 55 links the main Sukhumvit Road to Phetchaburi Road

This is a straight road linking both major roads. This is very rare as most sois are short and narrow. Because of this, there is a lot of activity along Sukhumvit Soi 55. Much more than your typical soi in the area.

Five years ago, I made a video where I walked along Sukhumvit Soi 55 on a Friday night.

Therefore, when a property claims to be a property located in Thong Lor, you need to be careful as to whether it is merely near Sukhumvit Soi 55 or is it actually along Sukhumvit Soi 55. There are many projects that label their developments with the word Thonglor, or any other popular location for that matter, without the development actually being in that area. If they are near Sukhumvit Soi 55, I still think it is alright. If you want the strong rental demand, then it should be along or very near Sukhumvit Soi 55.

As you can see from my video above, Thonglor is a very modern and hip neighbourhood. There are many bars and restaurants in the area. It gives you an idea that people living in this area probably are from the upper echelons of Thai society. There are many landed houses in the area. These houses can only be bought by Thai nationals. The prices of these properties are very high. In some cases, there are houses going for over THB100,000,000. That is in excess of USD$3 million for a house in Thonglor.

Details about the development

Noble Form Thonglor is a freehold condominium by Noble Development Public Company Limited (Noble). Noble is listed on the Stock Exchange of Thailand. The development sits on a land size of 2-2-56.7 rai which is approximately one acre (1 acre is about 4,046.86 square meters). The development consists of 1 residential building that is 46 storeys tall. There will be 546 units. The parking will be automatic tower parking.

The unit mix is as such.

1 bedroom: 31 to 36 square meters
1 bedroom plus: 52 square meters
2 bedrooms: 63 to 73 square meters

Within the 46 floors, the facilities are located on the ground level, levels 37 to 38 and 45 to 46.

On the ground level, or what they call level G, there is a mail room and smart lockers. On the factsheet they also state that there is an urban oasis and art deco lobby. These are just fancy terms for the lobby. On the 37th and 38th level there is, according to the factsheet, a Noble Social Club, The Lounge & The Library, a Multipurpose Space, a Recreation Room, a Sky Auditorium and a Moon Bar. It is common for there to be these communal spaces in new developments in Bangkok. Co-working spaces are very common as the digital nomad lifestyle is very prevalent in Bangkok. On the 45th floor lies the Sky Lagoon Swimming Pool (essentially it is a pool on a very high floor), the kids pool, semi outdoor shower, semi outdoor jacuzzi, water curtain (whatever that is. likely a water feature), a pool bar, a steam room, digital lockers and the gym. The 46th level houses the Sky Garden which includes a yoga yard, party space, BBQ space and a sky observation seating.

The interesting part about the newer developments in Bangkok is that they are increasingly integrating technology into their developments. Noble Form Thonglor is no exception. There is a “ME PASS” that all residents will set up to access the development. You can go past the entrance gate and into your unit as a resident via bluetooth. Entrance into the lift lobby is via facial recognition.

Where is the development located?

Noble Form Thonglor is located along Sukhumvit Soi 55. It is located across the road from the very popular Noble Form Thonglor. Around this area are high end restaurants, community malls and bars. If you notice, there is very limited area for residential properties to be built. I have consistently highlighted the case of Park Origin Thonglor where the developer had to buy out all the commercial spaces to convert it into that condominium.

Location of Noble Form Thonglor

You will need to walk 1.5 kilometres to reach Thong Lor BTS Station. The walk will take 21 minutes. It is definitely not near the BTS Station. While I have always advocated buying close to the BTS stations, Thong Lor is unique. It is perhaps one of the very few locations where I would be ok with recommending that is not close to the BTS Station. Based on past experience, the rental demand for properties in the middle of Sukhumvit Soi 55 is very high. Tenants demand for properties in this location because of the large concentration of amenities in the area. Also, this is a very good neighbourhood to live in. It consists of well to do locals and foreigners. The houses that are within this area are one of the priciest in central Bangkok. Therefore, the neighbourhood is little with very wealthy Thais.

Walk from Noble Form Thonglor to Thong Lor BTS

There is a very small silver or perhaps grey lining. There is slated to be a BTS station, titled “Thonglor 10” on the yet to be confirmed Grey BTS Line. The BTS network has expanded very extensively and is continuing to expand. The grey line links northern Bangkok to the south and is slated to past through Thonglor with a station along Thong Lor Soi 10 (judging from the proposed name of the station). Thong Lor Soi 10 is a very short street that is perpendicular to Sukhumvit Soi 55. The end of which, if you are walking from Noble Form Thonglor, will be DONKI Mall Thong Lor.

The distance to walk to DONKI Mall Thong Lor is 850 meters and will take about 11 minutes. This is the end of the soi. If the proposed train station is anywhere else along Thong Lor Soi 10, then the walk will be shorter.

Walk from Noble Form Thonglor to Donki Mall Thong Lor

My thoughts about the development (selling points and investment potential)

You can get a 1 bedroom at about THB 7 million. There might still be units that are less than THB 7 million. This works out to a per square meter price of about THB220,000. Of course units with better facing and on higher levels would command a higher price and price per square meter.

Considering that there is another development along the same street going for way higher… perhaps Noble Form Thonglor is attractively priced.

Of course The Monument Thonglor is a very high end development with very premium finishes. The cost of building that property itself would be significantly higher than Noble Form Thonglor. If you want to purchase to rent, then Noble Form Thonglor would provide you with decent yield.

As a benchmark, let us use Park Origin Thonglor. For one, the distance to Thong Lor BTS Station is similar. It is also located around the middle of Sukhumvit Soi 55, albeit an arterial road that is Thonglor Soi 10. The size of their one bedroom units are also similar to those at Noble Form Thonglor.

In this area, with this level of furnishing, a one bedroom condominium would be able to command a rent of about THB45,000 to THB55,000. Let us take THB45,000 to be the expected rent for a one bedroom unit at Noble Form Thonglor.

Let us also assume a purchase price of THB8 million. I believe you can still find a small one bedroom at Noble Form Thonglor at about THB7 million but that would be for the smaller units, i.e., the ones that are 31 square meters in size. Instead, we will assume the larger of the one bedrooms. Those that are 36.61 square meters in size. Such a unit costs slightly above THB8 million. With a purchase price of THB8.2 million, the gross rental yield works out to be as such:

THB45,000 x 12 / THB8.2 mill = 6.6%

This is relatively healthy as the typical gross rental yield in Bangkok is about 5%. Moreover, the profile of tenants who will be renting properties in Thonglor is very good. They are usually families or well paid professionals. They can be both local or foreigners.

Investment potential wise, owning a property in the Thonglor neighbourhood is akin to holding a blue chip stock. If I were to choose one neighbourhood that will not go weak on demand over time, I would choose Thonglor. Location and environment wise you cannot do much better. Is there still room to rise in terms of capital appreciation? I believe so. However, if you are looking for property prices in Thonglor to increase in multiples, then this will definitely not be the case. Especially if you are looking to own the property for a period of about a decade. Instead, what you should be considering is whether the property in Thonglor can yield healthy returns through rent. In this aspect, I believe rental prices should increase over time. After a holding period of five years, individual investors should consider selling the property as they would have already side stepped the specific business tax that is levied on individual owners who sell within 5 years of ownership.

Of course, the ideal situation would be for the Grey BTS Line to be confirmed. That would definitely cause an increase in demand for properties in this area. Not that there is a need to encourage further demand. However, property investors should consider this as a potential upside as well.

Noble Form Thonglor

Noble Form Thonglor

Pricing 5/5

To me, most attractively priced development in the last two years. You can take a look at my explanation above.

Location 4.5/5

This is not near Thonglor BTS Station. However, it does not need to be. This area is highly sought after. Perhaps this fact actually adds to the exclusivity of the development. If it were close to Thonglor BTS then this would be the ideal condominium. However, the prices of properties very close to Thonglor BTS will not be this affordable. I guess it is a trade off. This is a trade off which I personally would gladly make.

Yours sincerely,

Daryl

The post My review of Noble Form Thonglor by Noble Development appeared first on Daryl Lum's Blog.

A 1 bedroom unit at Hasu Haus is going for about THB 22,000 a month. This is the asking price. I believe it could go down to about THB 18,000 a month. This is the going rate for properties in Hasu Haus.

Hasu Haus is located about 1.5 kilometres away from On Nut BTS Station. It will take approximately 22 minutes to get there by walking. It is located in the T77 community area. This is an area that is built and managed by Sansiri.

Here is a write up about the T77 community. Colloquially known as Sansiri Town.

https://investbangkokproperty.com/introduction-t77-also-known-sansiri-town-sukhumvit-77/

I had previously walked to Habito Mall, a mall within the T77 community, from On Nut BTS Station. Here is the video.

While this review is not about the T77 community, it would be useful to have some context as to the area which we will be discussing. Origin Residences Sukhumvit is located in the On Nut area. An area that is growing increasingly popular with the expatriate community.

Details about the development

Origin Residences Sukhumvit is a freehold condominium by Origin Property Public Company Limited (“Origin Property”). Origin Property is listed on the Stock Exchange of Thailand. The land area is approximately 2 Rai. 1 rai is 1600 square meters. Therefore the site that Origin Residences Sukhumvit sits on is 3200 square meters. The development consists of 1 building that is 31 storeys tall. There will be 470 units with 3 commercial shops. There will be 235 parking lots. This is rather generous with the number car parking lots being 50 per cent of the total number of units of the development. In most cases, this ratio is usually around 40%.

The unit mix is as such.

1 bedroom: 30 square meters
1 bedroom plus: 37 to 43 square meters
2 bedroom: 46 to 50 square meters
Penthouse 60 to 62 square meters

Certain levels of Origin Residences Sukhumvit are designated as pet-friendly areas. Pets are not allowed in most condominiums in Bangkok. Therefore, pet friendly developments are rare. Usually such developments will command a higher selling price and rent.

The start of construction of Origin Residences Sukhumvit is set for the 2nd quarter of 2026. The completion of the development is slated for the second quarter of 2028.

The facilities include a lobby lounge, concierge counter, pet lounge, pet yard, champagne pool, gym, steam and sauna, a sky lounge and a sky bar.

Here is a breakdown of the overall building layout of Origin Residences Sukhumvit.

This is the foreign quota allocation. i.e. the units that can be sold to foreigners.

Although 49% of the aggregate floor space can be sold to foreigners, developers usually end up selling less than that to foreigners. Most units are bought by local buyers. Large developers demarcate certain units to foreigners. This means that if a certain unit is not part of the foreign quota, it cannot be bought by a foreigner even though there is available aggregate floor space to be sold to foreigners. The large developers do this so that they will never be in a situation where they sell a unit to a foreigner which causes the total aggregate floor space owned by foreigners to cross 49%. Anyway most of the demand for well located Bangkok properties are from local Thais. When I use the term “well located” I mean close to the city centre, close to a train station and in general a place where locals know is a good location. I had previously spoken about developments which were sold in places like Hong Kong and Taiwan which were not in a good location. There was one particular development which was located in Rama 9, which is very central, however the development was located deep into the small sois (streets in Thai). Many who bought the development never visited the actual site. They were sold the development at property fairs in their countries.

Moral of the story, buyers must know where the development they are purchasing is located exactly. It is not enough to say that the development is located in a general area. You need to be able to decipher whether the development is walking distance to the nearest train station.

Where is the development located?

Origin Residences Sukhumvit is located along the main Sukhumvit line. It is located slightly after Phra Khanong BTS Station, before On Nut BTS Station.

Location of Origin Residences Sukhumvit

You will need to walk about 650 meters or about 9 minutes from Phra Khanong BTS Station to get to Origin Residences Sukhumvit. You will need to go past the junction that leads to Rama IV Road. Rama IV Road leads to the Sathorn Financial District.

Walk from Phra Khanong BTS Station to Origin Residences Sukhumvit

Phra Khanong is one BTS station after Ekkamai BTS Station and two from Thong Lor BTS. Asok BTS Station, which is the interchange between the light green BTS line and the Blue MRT line is four stations away.

My thoughts about the development (selling points and investment potential)

This is NOT a location that is in the middle of a business district. As a point of reference, I would say that the two areas with a significant amount of commercial activities to constitute a business district are the Sathorn/ Silom area and Rama 9.

However, if you have lived in Bangkok, you will know that these areas are perpetually congested. This is why areas in Ekkamai and Thonglor are so popular with the expatriate community. They are less congested (I did not say that they are not congested) and have a huge slew of amenities that make living in these areas very desirable. However, these areas have become very expensive over the last decade. Expatriates have started looking at places like On Nut and Phra Khanong, which are on the fringes of Ekkamai and Thonglor, where rents are slightly lower. If you have ever tried to look for places to rent in On Nut, you will realise that the turnover of units is very high. Take up rates are high because of the affordability of rents in the area coupled with the large number of amenities in the area. There are local markets, community malls, a cinema, Tesco Lotus and Big C located all within walking distance from On Nut. Phra Khanong has been under the radar for many years. It does not have as many community malls and amenities in the area but I put that down to the lack of new condominium developments. Increasingly, new condominiums have been sprouting up in Phra Khanong. These are developed by large Thai developers which are listed on the Stock Exchange of Thailand.

Location wise, I would still favour a property in Ekkamai over one in Phra Khanong. I believe I would have to fork out just a bit more, perhaps 20 to 30% more for a comparable unit in Ekkamai. While I may find such a price difference palatable, some buyers may be more price sensitive and may only be willing to fork out a certain amount for a condominium in the area. Then a development like Origin Residences Sukhumvit makes sense. The price of a 1 bedroom unit is approximately THB 6.5 million +/- depending on facing and level. A 2 bedroom is north of THB 10 million. This works out to prices just above THB210,000 per square meter.

Origin Residences Sukhumvit

Pricing 3.5/5

Prices start just above THB 210,000 per square meter. You can actually find properties in Ekkamai which are going for this kind of pricing. Although that property in Ekkamai may not be along the main Sukhumvit Road. In terms of yield, I would believe that a property like Origin Residences Sukhumvit should be able to . The estimated rent should be about THB 30,000 for a 1-bedroom unit. This works out to about 5.5% gross yield based on an estimated purchase price of THB 6.5 million. The net yield after deducting maintenance, taxes and other related costs like agent commissions would be about 4-5% per annum.

Location 4.5/5

While Phra Khanong is not located in any of the central business districts, it is located in the middle of two very desirable areas. Ekkamai and On Nut. I rate this location very highly for a few reasons. The first being that it is along the main Sukhumvit Road. It is an advantage to be on the main road. Demand is usually higher as prospective tenants and buyers will be able to see the property as they travel along Sukhumvit Road. Usually via BTS. Yes this is one of the ways in which a property gains popularity. Another is the fact that Phra Khanong is what I would consider the ideal location in terms of connectivity to the Sathorn and Silom area and the rest of the popular areas along the main BTS line. Getting to Silom via private hire transportation is very straightforward as the start of Rama IV Road is located very close to Origin Residences Sukhumvit. Phra Khanong is not as congested as Ekkamai and less hectic than On Nut but retains easy access to both these very popular areas.

Quality 4/5

Origin Property is a very reputable developer. Their landmark development, in my personal opinion, is Park Origin Thonglor. That is a major development located along Thonglor Soi 10. Here is how Park Origin Thonglor looks like.

I do not think quality is an issue which buyers of Origin Residences Sukhumvit have to deal with.

p.s.I own and run a real estate company that specialises in dealing with Bangkok properties. Origin Property is a developer whose developments are being marketed by my real estate company. I also maintain a web portal InvestBangkokProperty.com where we list the various new project launches in Bangkok. The purpose of this review is to provide my thoughts and insights for buyers looking to invest in these developments.

Other useful articles:

The good locations for property investment in Bangkok (2023 update)

How has COVID-19 affected the Bangkok property market

Thailand’s new Land and Building Tax Act. Details and potential impact on the market.

An overview of the long stay visas for foreigners in Thailand

My views on the Singapore and Bangkok property markets

My 2018 Bangkok Property Market Review

Thailand Property Market Outlook for 2019

Where are the up and coming property investment locations in Bangkok?

The good locations for property investment in Bangkok

A compelling case to invest in Bangkok

Guide to buying a property in Thailand

Thailand Property: Legal and Tax Issues

Recognising the different property title deeds in Thailand

Can a foreigner take a property loan in Thailand?

Buying property in Bangkok: Payment procedures

A guide to the top property developers in Thailand

Thailand Property Market Outlook for 2018

How to get an Investment Visa in Thailand

Thailand as a retirement destination

How to get a Retirement Visa in Thailand

My personal experience purchasing a property in Bangkok

Things to take note when investing in an overseas property

Factors that determine the property price in Bangkok

Looking to buy a Bangkok condo? Things to take note of.

Thailand property inheritance laws: taxes, succession and wills

How to get an Investment Visa in Thailand

The post My review of Origin Residences Sukhumvit by Origin Property appeared first on Daryl Lum's Blog.

Details about the development

Reference Ekkamai is a freehold condominium by SC Asset Company Limited. If you are not already familiar with SC Asset, it is listed on the Stock Exchange of Thailand. Its largest shareholder is Paetongtarn Shinawatra, the current prime minister of Thailand. As of the time of writing, I am not familiar with whether she has relinquished her shares. I believe she would have to take the position of prime minister of Thailand.

Reference Ekkamai sits on a plot of land with an area of approximately 2 rais (1 rai is equivalent to 1600 square meters). The building is a 44-storey high-rise building with a basement. There are 396 units in total with 207 parking lots (this is a very impressive parking lot-to-unit ratio in central Bangkok).

The unit type mix is as such:

1 bedroom: 34.55 to 37.16 square meters
1 bedroom plus: 47.01 square meters
2 bedrooms: 65.78 to 68.26 square meters
Penthouse 157.97 square meters

The residential units are located on the 5th to 44th levels of the building.

Where is the development located?

Location Map of Reference Ekkamai

The development is located along the main Ekkamai Road. In some maps, it is listed as Sukhumvit Soi 63. This street is not your typical narrow small street. Instead, it is wide. The sidewalks are well-built and maintained.

Landmarks around Reference Ekkamai

There is a huge Health Land opposite Reference Ekkamai. This spot is very popular with tourists. Tourists also frequent Here Hai, a popular Michelin Bib Gourmand restaurant, which is just down the road as well. It should be around 200 meters away and hence may be closer to Reference Ekkamai than Donki Mall.

Walk from Reference Ekkamai to Ekkamai BTS

As stated earlier, Reference Ekkamai is not close to Ekkamai BTS Station. In fact, it is 1 kilometre from Ekkamai BTS Station. It will take 14 minutes to complete the journey. The walk is relatively unsheltered. The good thing is that the sidewalks are well-paved and the walk is rather pleasant.

Ekkamai BTS Station is 3 stations away from Asoke BTS Station, 6 stations from Chidlom BTS Station and 7 from Siam BTS Station. Hence, it is still relatively close to your typical tourist haunts. However, residents do not need to venture too far away from Ekkamai to get everything that they need. There are already high-end shopping malls at Phrom Phong which is 2 BTS stations away and there is a Big C diagonally across Reference Ekkamai. I see little to no incentive to make the trip to the Siam area if you are living in Ekkamai.

My thoughts about the development (selling points and investment potential)

It is not common for a new development to come up in the Ekkamai area. Many of the developments in the area are catered to the high-end luxury market with per-square-meter prices much higher than what you would expect to pay for a typical condominium in central Bangkok. Some people, critics of the market mainly, will point to the fact that there is a lot of land in Bangkok and hence land prices are supposed to be low. This is true for areas outside of popular areas in Central Bangkok. I agree that Thailand has a lot of land. However, in very well-developed areas, land is scarce. It is all about buying into a good, central location with a decent catchment. It is well known that in areas like Ekkamai, for developers to develop, they will need to purchase existing land from private owners. In most, if not all cases, there is already a building sitting on that plot of land. Therefore, the developer will need to demolish the existing structure to redevelop. Ekkamai is one such area.

Prices in this area start slightly above THB200,000 per square meter. This works out to just above 7 million THB for a 1-bedroom unit. The units are not your typical 20-odd square meter units. Instead, this pricing is for a 34.55 square meter unit. The rental demand in this unit is relatively high. However, the most important thing to note, in my personal opinion at least, is the type of tenants that will rent a condominium unit in Bangkok. These tenants are usually higher paid expatriates with families. Typically Japanese tenants will favour areas like Ekkamai and Thonglor. Hence your tenant profile is highly favourable.

Reference Ekkamai

Pricing 4.5/5

Prices start just above THB 200,000 per square meter. This pricing is generally in trend with the properties in this area. If you venture one BTS station up to Thong Lor, you will be hard pressed to find anything that this pricing. The 1 bedroom units start just above THB 7 million, the 1 bedroom plus is above THB 9 million and the 2 bedrooms are above THB 14 million. The unit sizes are larger than the typical Bangkok condominium. Rent wise, yield should be about 4% per annum thereabouts.

Location 4/5

The strange thing about Ekkamai is that the properties that are the closest to the BTS station are not always the most desirable. Instead, the properties around the Donki Mall area are the ones with stronger demand from both tenants and buyers. However, I still think that being closer to the BTS station should be a priority in terms of accessibility and in how I score the property in terms of location. Reference Ekkamai is a 1 kilometre walk to Ekkamai BTS station and that is not something that everyone is willing to do on a regular basis. On the bright side, the odd number sois are the better side of the train line to be located on. This is because going further up north via Petchaburi Road will get you to locations like Siam Paragon or the Rama 9 area. It also puts you on the better side of the train line to get to both airports.

Quality 4/5

I think a consideration should be the breadth of facility options. I will make this part of my consideration when it comes to quality since I seem to always be reviewing only listed developers. Reference Ekkamai is a mid-sized development. Therefore, the breadth of facilities is not as comprehensive as compared to a project like Park Origin Thonglor. The larger the development, the more extensive the number of facilities.

There is a rooftop garden (rather common among all condominiums in Bangkok), lounges, an infinity pool, onsen, a co-kitchen and lounges, a yoga studio and a number of terraces. In a myriad of condominiums trying to differentiate your development has become increasingly difficult. I have even seen virtual golf driving ranges in condominiums. Reference Ekkamai’s facilities are around what a typical condominium should offer.

p.s.I own and run a real estate company that specialises in dealing with Bangkok properties. SC Asset Corporation is a developer whose developments are being marketed by my real estate company. I also maintain a web portal InvestBangkokProperty.com where we list the various new project launches in Bangkok. The purpose of this review is to provide my thoughts and insights for buyers looking to invest in these developments.

Other useful articles:

The good locations for property investment in Bangkok (2023 update)

How has COVID-19 affected the Bangkok property market

Thailand’s new Land and Building Tax Act. Details and potential impact on the market.

An overview of the long stay visas for foreigners in Thailand

My views on the Singapore and Bangkok property markets

My 2018 Bangkok Property Market Review

Thailand Property Market Outlook for 2019

Where are the up and coming property investment locations in Bangkok?

The good locations for property investment in Bangkok

A compelling case to invest in Bangkok

Guide to buying a property in Thailand

Thailand Property: Legal and Tax Issues

Recognising the different property title deeds in Thailand

Can a foreigner take a property loan in Thailand?

Buying property in Bangkok: Payment procedures

A guide to the top property developers in Thailand

Thailand Property Market Outlook for 2018

How to get an Investment Visa in Thailand

Thailand as a retirement destination

How to get a Retirement Visa in Thailand

My personal experience purchasing a property in Bangkok

Things to take note when investing in an overseas property

Factors that determine the property price in Bangkok

Looking to buy a Bangkok condo? Things to take note of.

Thailand property inheritance laws: taxes, succession and wills

How to get an Investment Visa in Thailand

The post My review of Reference Ekkamai by SC Asset appeared first on Daryl Lum's Blog.

Details about the development

Nue Epic Asok-Rama 9 is a freehold condominium by Noble Development Public Company Limited (Noble Development). The development consists of 4 towers. Towers A and B are 47 storeys, Tower C is 34 storeys and Tower D is 32 storeys. The development sits on a land of approximately 15 Rais of 24,000 square meters.

The development mix is as such:

1 Bedroom (M)：26.00 – 26.50 Sq.m.

1 Bedroom (L)：30.00 – 30.50 Sq.m.

1 Bedroom Plus：35.50 – 40.00 Sq.m.

2 Bedroom：45.50 – 53.90 Sq.m.

2 Bedroom Plus：76.00 Sq.m.

3 Bedroom 2 Bathroom：70.20 Sq.m.

3 Bedroom：83.00 – 100.80 Sq.m.

Where is the development located?

Location Map of Nue Epic Asok-Rama 9

The development is located on the side of Fortune Town. It lies along the main Rama 9 road. Do not be focused on the name Asok in the development’s name. If you are thinking that this development is close to Asoke BTS, it is not. You need to take 2 MRT stops south on the MRT line to get to Sukhumvit MRT station. This will allow you to connect to Asoke BTS and popular Terminal 21 mall.

The walk from Phra Ram 9 MRT Station to Nue Epic Asok-Rama 9

Nue Epic Asok-Rama 9 is located approximately 500 meters from Phra Ram 9 MRT Station. The walk to the MRT station is relatively unsheltered.

The journey from Nue Epic Asok-Rama 9 to Victory Monument

If you were to travel west bound on Rama 9 Road, you will be able to reach Victory Monument BTS Station which is one stop away from Phaya Thai BTS, two from Ratchathewi BTS and three from Siam BTS.

My thoughts about the development (selling points and investment potential)

Post pandemic, I have been stressing about how we need to only consider large, local Thai developers. Typically one that is listed on the Stock Exchange of Thailand. This is because the global economy is undergoing a slowdown. China included and especially. There are many Chinese developers in Thailand. These developers came into the market when the market was accelerating. They also came in because the mainland Chinese viewed property as a stable investment. However, a few years later, Mainland China and Hong Kong property prices have receded. This is especially true for Mainland China. Many Chinese have changed their perception for property investment back home.

Nue Epic Asok-Rama 9

Pricing 5/5

The prices start at THB 125,000 per square meter. This price was unheard of before the pandemic when prices were in excess of THB 200,000 per square meter. Prices start from about THB 4 million. One of the main reasons why the pricing is attractive is because it is located on the side of Fortune Centre rather than the side where Grand Central Rama 9 is located. If you purchase a THB 4.5 million unit and rent it out for THB 25,000, this will give a gross yield of about 6.7 per cent.

Nue Noble Rama 9, which is now sold out, is located on the Grand Central Rama 9. This is the reason for the 20 to 30 per cent higher per square meter pricing.

Here is a video of a walkabout around the Rama 9 area on the side of Grand Central Rama 9.

Location 4/5

I would very much prefer the development to be located on the side of Grand Central Rama 9. Major offices are on that side of the road. However, if this development were on that side of the road, I believe that Noble Development could sell units at a higher per square meter.

One thing to take note of is the horrible traffic in the Rama 9 area. The roads in this area are commonly congested. However, the fact that this area is congested supports the notion that this area is very centrally located. It is also well connected to the various key locations like the Asoke Area, Phayathai, Ratchathewi and if you take the MRT, reaching the Sathorn Financial District is rather swift.

I believe that if you are looking for a property in Bangkok for investment purposes, i.e., you are looking to rent out the property or sell the property after holding for a few years, then this is it. Retirement wise, I do not think many retirees will consider this area for the simple fact that this area is littered with large offices. The train lines are often congested.

Quality 4/5

I had previously mentioned that if you are purchasing from one of the large Thai developers, this should not be an issue. We have worked with Noble Development on countless occasions. Their defect liability period is typically 2 years and defects are usually resolved very swiftly.

p.s.I own and run a real estate company that specialises in dealing with Bangkok properties. Noble Development is a developer whose developments are being marketed by my real estate company. I also maintain a web portal InvestBangkokProperty.com where we list the various new project launches in Bangkok. The purpose of this review is to provide my thoughts and insights for buyers looking to invest in these developments.

Here is a video review of Nue Epic Asok-Rama 9.

Other useful articles:

The good locations for property investment in Bangkok (2023 update)

How has COVID-19 affected the Bangkok property market

Thailand’s new Land and Building Tax Act. Details and potential impact on the market.

An overview of the long stay visas for foreigners in Thailand

My views on the Singapore and Bangkok property markets

My 2018 Bangkok Property Market Review

Thailand Property Market Outlook for 2019

Where are the up and coming property investment locations in Bangkok?

The good locations for property investment in Bangkok

A compelling case to invest in Bangkok

Guide to buying a property in Thailand

Thailand Property: Legal and Tax Issues

Recognising the different property title deeds in Thailand

Can a foreigner take a property loan in Thailand?

Buying property in Bangkok: Payment procedures

A guide to the top property developers in Thailand

Thailand Property Market Outlook for 2018

How to get an Investment Visa in Thailand

Thailand as a retirement destination

How to get a Retirement Visa in Thailand

My personal experience purchasing a property in Bangkok

Things to take note when investing in an overseas property

Factors that determine the property price in Bangkok

Looking to buy a Bangkok condo? Things to take note of.

Thailand property inheritance laws: taxes, succession and wills

How to get an Investment Visa in Thailand

The post My review of Nue Epic Asok-Rama 9 appeared first on Daryl Lum's Blog.

Whizdom Craft Samyan and Culture Chula are both located in this area. As mentioned in my previous review, My review of Ideo Sukhumvit-Rama 4, Aspire Sukhumvit-Rama 4 and Oka Haus, Rama 4 Road is a very long stretch that leads into the Sathorn Financial District. This is the part that is in the financial district. I had previously also reviewed Culture Chula but I have slowly moved towards comparing two separate developments in the same area together. This is so that readers can have context as to how different developments stack up against each other in the area.

Details about the developments

Whizdom Craftz Samyan is a freehold condominium by Magnolia Quality Development Corporation Limited (MQDC). The development consists of 1 building with 55 stories and 4 basement levels. There are a total of 418 residential units with 1 shop and 4 SoHo units.

The development mix is as such:

1 -Bedroom 30-39 sqm
1 -Bedroom Loft 46-57 sqm
2 -Bedroom 53-66 sqm
2 -Bedroom PLUS 77-89 sqm
2 -Bedroom Loft 70-90 sqm
3 -Bedroom 96-105 sqm
Duplex 99-100 sqm
Penthouse 188-223 sqm

Culture Chula is a freehold condominium by Ananda Development Limited. The development consists of 1 building with 32 stories. There are a total of 612 residential units and 2 retail units.

The development mix is as such:

1 Bed 1 Bath 25 sqm
1 Bed Plus 1 Bath 25-33 sqm
2 Bed 1 Bath 32.5 sqm
2 Bed 2 Bath 42.5 sqm
2 Bed 2 Bath 1 Powder 48 sqm
3 Bed 2 Bath

Where are the developments located?

The walk from Sam Yan MRT to Whizdom Craftz Samyan

Whizdom Craftz Samyan is located along the main Rama 9 Road. The development is 550 meters from Sam Yan MRT Station. The walk will take 8 minutes. You will walk past Samyan Mitrtown, a community mall with an office building next to it.

The walk from Sam Yan MRT to Culture Chula

Similarly, Culture Chula is also located along the main Rama 4 Road. It is 350 meters away from Sam Yan MRT and will take 5 minutes to walk.

In both cases, the walks are generally unsheltered. The walks are quite scenic and safe even at night. This is located in the business district and you would expect the surroundings to be very safe both in the day and at night.

Sam Yan MRT Station is located 1 station away from Si Lom MRT Station. There you can change to the Dark Green BTS Station and that will be 2 BTS Stations away from Siam BTS.

This location is extremely central. It is in the financial district and yet it is close to the shopping belt. If you frequent Bangkok as a tourist, you would know where Siam Paragon and MBK are located. Sam Yan MRT Station is located just north of MBK and right on the edge of the Sathorn Financial District. There are many offices and most major companies like banks, law firms and large MNC head offices are located in this area. If I could think of a downside it would be that this area, at certain times, can be extremely congested in terms of traffic.

The major tenant pool would be from both the university as well as those working in the Sathorn Financial District. This is really prime location. I have walked from the area around Sam Yan MRT Station to the King Power Mahanakhon before and it took just over 15 minutes. On Google Maps, it shows the distance as 1.3 kilometres which would take 18 minutes.

My thoughts about the developments (selling points and investment potential)

Once again I cannot stress the importance of buying from a good developer. Both MQDC and Ananda are both large Thai developers and are listed on the Stock Exchange of Thailand. I do expect some fallout from what is happening in the Chinese property market to affect the Chinese developers in Thailand. Many buyers should know that there are many Chinese developers in Thailand.

Whizdom Craftz Samyan

Pricing 4/5

Prices for a 1 bedroom in Whizdom Craftz Samyan come up to about THB 8 million. The rental demand and pricing in this area would similarly be higher and this works out to a gross yield of about 4.5% per annum. I am very confident that the demand from tenants for units in this area is very strong.

Location 4.5/5

The Sathorn Financial District is a very congested area. Traffic wise. Whizdom Craft Samyan is located at the edge of the financial district where the congestion is not as severe. If you work in the middle of Sathorn, you will understand what I mean. The congestion is so bad that buses have their paths away from general traffic. This is Bangkok’s Bus Rapid Transit (BRT) system. It essentially is moving down a straight road and yet the buses have to be segregated away from the general traffic.  The area around Sam Yan MRT is ideal. It is also located close to MBK and is just one parallel main road away from the main Sukhumvit shopping belt. Oh and when walking back to the development from Samyan MRT, you would pass by Samyan Mitrtown. Many would argue that this is the “correct” side of Sam Yan MRT for a development to be located at.

Quality 4/5

If you are purchasing from one of the large Thai developers, this should not be an issue. MQDC is a very large developer. It jointly developed IconSiam. That project cost THB 54 billion. There should not be an issue with Whizdom Craft Samyan.

Culture Chula

For my rating, please visit my previous review of Culture Chula here: https://daryllum.com/my-review-of-culture-chula/

Between the two, I would slightly lean towards Whizdom Craftz Samyan. It is closer to Samyan MRT, although not by a lot, and it is closer to Samyan Mitrtown.

Yours Sincerely,

Daryl Lum

The post My review of Whizdom Craftz Samyan and Culture Chula appeared first on Daryl Lum's Blog.

The Thai Baht is weak. It has remained so for an extended period. The reason for this would be that this would make Thai exports more attractive as it seeks to make up for the shortfall in tourism numbers. The Thais are very cognisant that they cannot be as reliant on tourism as before. Pre-covid, tourism accounted for about 10 per cent of Thailand’s gross domestic product (GDP).

Thai properties as foreign property purchases are also dependent on the exchange rate. If the Thai Baht is strong, Thai properties will be more expensive to foreigners. The flip side is true as foreigners deem Thai properties as discounted due to the weak Thai Baht. This gives foreign buyers of Thai properties two possible upsides. One, if the property appreciates, the owner of the property can realise the profit if he chooses to sell the property. The second possible upside would be if, all things being equal, the Thai baht appreciates against the foreign buyer’s home currency. Selling the property and converting the money back to his home currency will yield a profit.

Recently, the Thai property market has seen a slight uptick. The buyers are mainly from China, Russia and Taiwan. However, as prices in traditionally popular areas like Chidlom, Ploenchit, Asoke and Thonglor have climbed, property purchasers will start to move slightly further out. These buyers are looking to purchase for their own stay and hence the typical characteristics like close to amenities and the city centre are important.

One of the areas where demand has seen an uptick in demand is the Rama 4 area. For those who are not familiar, Rama 4 Road is a very long stretch of road that leads from just after BTS Phra Khanong all the way through to the Sathorn Financial District.

Rama IV Road from BTS Phra Khanong

Rama IV Road through the Sathorn Financial District

Rama 4 Road is a road that is parallel to the main Sukhumvit Road. The road that straddles the BTS line that most tourists are familiar with. Along Rama 4 Road lies two major hospitals, chain supermarkets and community malls. The tenants that are looking to rent properties in this area want to be close to the Thong Lor, Ekkamai, On Nut area as well as being just one straight road down into the Sathorn Financial District.

In this review, we will be looking at 3 developments in the area from 3 major developers.

1. Ideo Sukhumvit-Rama 4 by Ananda Development PLC
2. Aspire Sukhumvit-Rama 4 by AP (Thai) PLC
3. Oka Haus by Sansiri PLC

Details about the developments

Ideo Sukhumvit-Rama 4 is a freehold condominium by Ananda Development. The development consists of 1 building with 32 floors. There are a total of 645 residential units in this development.

Aspire Sukhumvit-Rama 4 is a freehold condominium by AP (Thai). The development consists of 1 building with 38 floors. There are a total of 1323 residential units with 2 commercial units in this development.

Oka Haus is a freehold condominium by Sansiri. The development consists of 1 building with 47 floors. There are a total of 1,178 residential units in this development.

Where are the developments located?

The walk from BTS Phra Khanong to Ideo Sukhumvit-Rama 4

Ideo Sukhumvit-Rama 4 is located along the main Rama 4 Road. The development is 450 meters from BTS Phra Khanong. The walk will take 6 minutes.

The walk from BTS Phra Khanong to Aspire Sukhumvit-Rama 4

Aspire Sukhumvit-Rama 4 is also located along the main Rama 4 Road. The development is 600 meters from BTS Phra Khanong. The walk will take 9 minutes.

The walk from BTS Thong Lor to Oka Haus

Oka Haus is also located along the main Rama 4 Road. It is further along Rama 4 Road as compared to the other two developments and is closer to the Sathorn Financial District. The development is 1.4 kilometers from BTS Thong Lor. The walk will take 19 minutes. The distance is not ideal if you intend to walk to BTS Thong Lor daily. However, if you are travelling by private transport to the Sathorn Financial District, then this is closer than the other 2 developments.

Both BTS Thong Lor and BTS Phra Khanong are located along the light green Sukhumvit BTS line. BTS Thong Lor is a mere 6 stations away from BTS Siam where the popular Siam Paragon shopping mall is located. Thong Lor should be an area which is synonymous with tourists especially those who enjoy cafe and bar hopping. Many popular restaurants are located in this area. The Japanese expatriate community particularly likes to live in this area and hence you can see a lot of Japanese restaurants and shops in the Thong Lor area. BTS Phra Khanong is another 2 stations down the same BTS line from BTS Thong Lor. This area is a little more residential in nature but is still very conveniently located if you are coming from the Thong Lor and Ekkamai area. The Phra Khanong and On Nut area are getting more popular with cost-conscious foreigners who want to stretch their dollar.

This area is getting very popular. Not too long ago, I reviewed two developments, Aspire Onnut Station by AP (Thai) and Nia by Sansiri which are located in the On Nut area. You can read this review here:

https://daryllum.com/my-review-of-aspire-onnut-station-by-ap-thai-and-nia-by-sansiri/

My thoughts about the developments (selling points and investment potential)

Developer profile is important. My advice to everyone that is looking to purchase a property in Bangkok would be to purchase from a local Thai developer that is listed on the Stock Exchange of Thailand. I believe that there is every possibility that smaller foreign developers may falter. There have been developments by some “new” foreign developers. Thailand, being a very open economy, welcomes developers from all over the world to develop in Bangkok. The same developers that are facing financial woes in countries like China have subsidiaries in Thailand and are developing in Thailand. One such example is Risland. If you are unsure who Risland is, you can refer to this article:

Who is Risland?

Do not be enticed by low prices. The market always moves towards an equilibrium. If prices of properties in a certain area have been transacting at a certain level, there is close to no way that you can get hold of something that is half off in the same area. Much less the same development. If you budget about USD$200,000 for a one-bedroom condominium unit in this area, you would have an extremely healthy budget to purchase a unit in a good development by a Thai developer with a proven track record. The development should have a wide array of facilities and the building should be well maintained over time. This would mean that the ability to attract tenants would survive past the initial few years.

Ideo Sukhumvit-Rama 4

Pricing 4/5

Prices start in excess of THB 4.5 million. Yield wise, it works out to a gross yield of about 4.5% per annum. Demand is strong for this area. The tenants are the slightly more cost conscious expatriate. The draw of this location would be the proximity to the On Nut area with a huge Tesco next to the BTS as well as the proximity to Ekkamai and Thong Lor. The Rama 4 Road provides a direct route straight into the Sathorn Financial District.

Location 4/5

The location is not exactly next to BTS Phra Khanong but it is still within walking distance. 450 meters may not be exactly close but we have dealt with so many other developments where the distance to the BTS is further than this and demand has been strong. This development is located along a main road and hence you are not walking up into a dark alley to get to the development.

Quality 4/5

If you are purchasing from one of the large Thai developers, this should not be an issue. As mentioned earlier, Ananda is listed on the Stock Exchange of Thailand and has an excellent track record.

Aspire Sukhumvit-Rama 4

Pricing 4.5/5

Prices start slightly less than THB 4 million. However, such units would be smaller in size and in a less desirable facing. Ideally, a budget of slightly more than THB 4 million would get you a nice studio unit. There are vertiplex units (that’s the term that is used in the brochures) and these units are essentially one bedroom units with high ceiling. The bed is located on a loft with a small flight of stairs leading up. If I had the choice, I would select such units as it offers something different to prospective tenants.

Location 3.5/5

The location is also not exactly next to BTS Phra Khanong but it is still within walking distance. However, it is 600 metres. Slightly further than the previous development.

Quality 4/5

Similarly, AP (Thai) is a large developer that is listed on the Stock Exchange of Thailand. Their track record is similarly excellent. Having seen and dealt with many of their developments for more than a decade, I struggled to find an instance where there were any major complaints.

Oka Haus

Pricing 4.5/5

Prices start around THB 5 million. The gross yield should be slightly more than 4% per annum. Having seen the actual development in the flesh, I can say that the furnishing and fittings that are provided are top-notch.

Location 4/5

The downside is that this is not close to the BTS station. However, the pricing would be dramatically higher if it were close to BTS Thong Lor, perhaps the nearest BTS station.

Quality 4/5

Similar to the other two developments, this is a Sansiri development. Quality should not be an issue. If there ever was an issue with the state of the development at the point of handover, Sansiri has been known for being extremely responsive to rectifying defects.

Yours Sincerely,

Daryl Lum

The post My review of Ideo Sukhumvit-Rama 4, Aspire Sukhumvit-Rama 4 and Oka Haus appeared first on Daryl Lum's Blog.

Details about the development

Shush Ratchathewi is a freehold condominium by one of Thailand’s largest developers, Sansiri PLC. Sansiri is a publicly listed company on the stock exchange of Thailand. There are 383 units in a single tower of 32 storeys. The development is slated to be completed in 2026.

Where is the development located?

Shush Ratchathewi Location

Shush Ratchathewi is located in the middle of both Ratchathewi and Phaya Thai BTS Stations. Ratchathewi BTS is one station away from Siam BTS. You can walk to Siam Discovery from Ratchathewi BTS.

The walk from Shush Ratchathewi BTS to Ratchathewi BTS Station

The walk from Shush Ratchathewi BTS to Ratchathewi BTS Station will take 3 minutes and will cover 170 meters.

The walk from Shush Ratchathewi to Phayathai BTS or Airport Rail Link

The walk from Shush Ratchathewi to Phayathai BTS Station is a 6 minute walk. It is 400 meters away. Phayathai BTS is also connected to Phayathai Airport Rail Link. If you are heading to Suvarnabumhi Airport, you can take a direct train from Phayathai Airport Rail Link station.

Ratchathewi BTS is the nearer BTS station. There are very few condominiums closer to the Siam shopping district than Shush Ratchathewi.

BTS Stations near Shush Ratchathewi

Phayathai is already an interchange of two train lines. Ratchathewi will be the interchange between the Light Green BTS Line and the Orange Line. This area of Bangkok, being very centrally located, is very well connected.

My thoughts about the development (selling points and investment potential)

The location is extremely prime. If you are a tourist, you would definitely be familiar with the Siam shopping belt. Siam Paragon is a shopping mall where tourists and Thais visit for upscale boutiques. Ratchathewi is located within walking distance from Siam Paragon. If you want something central, you most probably cannot get anything better than this. Perhaps something that will be comparable in terms of location would be Chidlom or Ploenchit. Ratchathewi is intriguing because it is located in the direction of the Chatuchak/ Lad Prao area which is developing extremely rapidly.

If you are looking for a huge increase in prices for properties in this area, properties like Shush Ratchathewi would not be it. The prices of properties in this area will always command a premium. Rents will also be higher and demand will always be constantly strong. Land is limited in such areas and hence there are limited number of units that can come onto the market. In times of uncertainty, properties right in the heart of central Bangkok will always be in demand. When market is slow, landlords should adjust accordingly. Accepting lower rent is in almost all circumstances better than leaving the unit vacant. The key is that there will always be tenants for properties in centrally located areas. This is synonymous across all major cities.

Shush Ratchathewi

Pricing 4.5/5

The project is priced at less than THB 300,000 per square meter for most loft units. This is taking into consideration the usable area as a large proportion of the units on offer. A 1 bedroom loft unit with an area in excess of 40 square meters will cost just above THB 10 million. This is in line with other developments in the area and is also lower than prices in the Chidlom and Ploenchit areas. I believe that this development is priced aggressively. Considering the fact that this is a luxury series development by Sansiri, I do think that if you are a buyer looking to purchase in central Bangkok, you would generally fall squarely in the THB 300,000 per square meter range.

Location 4.5/5

This is walking distance to Siam Discovery. It is also located along the main road and not within a small street (or soi). I doubt anyone can speak negatively about this location.

Quality 4.5/5

Sansiri projects are, so far in my decade of experience dealing with Bangkok properties, one of the best. I have had the luxury of featuring and marketing their luxury properties. Other notable developments by Sansiri which fall under this super luxury category would include Khun by Yoo and The Monument. Both of these properties are located in the Thong Lor area.

This is a look at The Monument by Sansiri.

My review of Shush Ratchathewi on YouTube.

Yours Sincerely,

Daryl Lum

p.s.Disclaimer: I also own and run a real estate company in Bangkok, Thailand that specialises in dealing with Bangkok properties. Sansiri is a developer whose developments are being marketed by my real estate company. I also maintain a web portal InvestBangkokProperty.com where we list the various new project launches in Bangkok. The purpose of this review is to provide my thoughts and insights for buyers looking to invest in these developments.

Other useful articles:

The good locations for property investment in Bangkok (2023 update)

How has COVID-19 affected the Bangkok property market

Thailand’s new Land and Building Tax Act. Details and potential impact on the market.

An overview of the long stay visas for foreigners in Thailand

My views on the Singapore and Bangkok property markets

My 2018 Bangkok Property Market Review

Thailand Property Market Outlook for 2019

Where are the up and coming property investment locations in Bangkok?

The good locations for property investment in Bangkok

A compelling case to invest in Bangkok

Guide to buying a property in Thailand

Thailand Property: Legal and Tax Issues

Recognising the different property title deeds in Thailand

Can a foreigner take a property loan in Thailand?

Buying property in Bangkok: Payment procedures

A guide to the top property developers in Thailand

Thailand Property Market Outlook for 2018

How to get an Investment Visa in Thailand

Thailand as a retirement destination

How to get a Retirement Visa in Thailand

My personal experience purchasing a property in Bangkok

Things to take note when investing in an overseas property

Factors that determine the property price in Bangkok

Looking to buy a Bangkok condo? Things to take note of.

Thailand property inheritance laws: taxes, succession and wills

How to get an Investment Visa in Thailand

The post My review of Shush Ratchathewi appeared first on Daryl Lum's Blog.

Details about the developments

Aspire Onnut Station is a freehold condominium by one of Thailand’s largest developers. Namely AP Thai. They are listed on the Stock Exchange of Thailand. There are 696 residential units with 1 shop which will be owned and possibly run by the developer. The single residential building will have 37 stories and a rooftop garden. There is one 8-storey carpark building with a rooftop garden as well. The development consists of a good mix of 1 and 2-bedroom types.

Nia by Sansiri is a freehold condominium by Sansiri. Sansiri is also one of Thailand’s largest developers. They are also listed on the Stock Exchange of Thailand. Sansiri is perhaps one of the more aggressive Thai developers when it comes to marketing their developments to the overseas market. Hence the developer is a brand that many foreign investors would find familiar. There are 419 units in Nia by Sansiri. The single residential building will have 19 stories with a rooftop garden. The development consists of a good mix of 1 and 2-bedroom types.

Where are the developments located?

The walk from Aspire Onnut Station to On Nut BTS

Aspire Onnut Station is located along the main Sukhumvit road. It is 300 meters away from BTS On Nut. The walk will take 5 minutes. The walk is generally unsheltered until you cross Sukhumvit Soi 50 to get on the side of Tesco.

The walk from Nia by Sansiri to On Nut BTS

Nia by Sansiri is a lot further. It is 1.4 kilometres away from On Nut BTS and will take 20 minutes to walk to the BTS station. However, it is located at the fringe of the T77 Community. The T77 Community is a guarded and gated community developed by Sansiri. The popular Habito Mall is located within the T77 Community.

The walk from Nia by Sansiri to Habito Mall

The walk from Nia by Sansiri to Habito Mall takes 6 minutes as it is 400 meters away. There is also a shuttle service that takes residents of the condominium to Habito Mall and On Nut BTS. The highly popular Bangkok Prep School is located very close by.

BTS On Nut is two stations away from BTS Ekkamai, four stations from BTS Phrom Phong, and five from BTS Asoke. EM Quartier, Emporium and the newly opened EM Sphere are located at Phrom Phong. The popular tourist haunt Terminal 21 is located at Asoke.

It is safe to say that the shopping belt along the light green BTS line has been expanding and it is expected that the fringe of the shopping belt is also moving further down the BTS line. On Nut is an area benefitting from this.

My thoughts about the developments (selling points and investment potential)

Perhaps when I first started dealing with Bangkok properties, I would draw the line at BTS On Nut as to where the cut-off point should be for investors looking to purchase properties for rent. However, over the years, Bangkok, like many cities, has developed. The central business district is not merely confined to the Sathorn or Silom area. The shopping belt has also expanded and the expatriate community has grown increasingly more diverse with the mainland Chinese playing a significant role. On Nut is no longer the edge of where investors should be looking at. Punnawithi which is further away than On Nut in terms of BTS stations from places like Siam and Asoke are developing. There is a True Digital Park which houses Huawei and Google Academy. There is a digital nomad scheme (which is another topic for another blog article) where the government is trying to encourage tech companies to relocate their staff to Bangkok which is boosting the area around Punnawithi. The Bangna area even further down the BTS line is also developing in terms of residential and commercial developments. There are multiple train lines that have opened up in the last few years with BTS Samrong, which is after BTS Bangna, being an interchange between the Light Green BTS line and the Yellow BTS Line. In essence, On Nut seems to be right in the centre of all these intersections as well as close to the areas of development. This is reflected in the strong rental demand from tenants.

As for pricing, On Nut is still many tiers lower when compared to properties in the Asoke or Ploenchit area. However, the returns are not necessarily correspondingly lower. In fact, rental demand is strong in this area because it is a generally very self contained location. There are amenities like a huge hypermart in Tesco next to BTS On Nut, a decent shopping mall in Century The Movie Plaza and if residents want something a little more upscale, Ekkamai, Thong Lor and Phrom Phong are a few BTS stops away. This sits right on the edge of where the high end restaurants and community malls are located but yet pricing is much lower in terms of quantum for a similarly sized unit. This applies to both units on sale and rent. I must mention that the T77 Community, though not exactly near to On Nut BTS station, is very popular with tenants. It is a self contained guarded and gated community and the school within the community is a huge draw for expatriate communities with young schooling children. The environment within the T77 community is also significantly cleaner and more pleasant as it is run by Sansiri.

Aspire Onnut Station

Aspire Onnut Station

Pricing 4/5

It is very reasonably priced with 1 bedroom units below 4 million. The yield is about 4.5% per annum. Most importantly, demand for rental is strong in this area. Rental prices have been creeping up so we expect the yield to hold steady at 4.5% even with new developments coming up in this area.

Location 4.5/5

It is location along the main Sukhumvit Road. It is, to me, on the correct side of the road. This being the side that Tesco Lotus is located along. Aspire Onnut Station is very close to BTS On Nut. In fact, this is one of the closest to the BTS.

Quality 4/5

AP Thai has rarely disappointed clients with its finishing. In my decade of dealing with Thai properties, I fail to recall an instance when buyers have been disappointed with the delivered product.

Nia by Sansiri

Nia by Sansiri

Pricing 4/5

I think this can be the score in general for most properties in the On Nut area so long as a one-bedroom unit in the development does not cross THB 5 million.  The key to me is the fact that rents can be obtained rather easily. Rental demand is strong. The unique thing about properties by Sansiri in the On Nut area is that they are either within or on the edge of the T77 Community and the demand for properties in and around the T77 community is very high. In some instances, higher than properties that are closer to BTS On Nut.

Location 4/5

I scored this slightly lower because this development is at the edge of the T77 Community and not within it. However, the entrance to the T77 Community is extremely close to the entrance of Nia by Sansiri and Habito Mall is just a short distance from this development.

Quality 4.5/5

I have had the opportunity to visit the completed development. Due to the pandemic, projects like Nia by Sansiri did not have any significant presale activities where buyers had the opportunity to purchase the development before the development was completed.

Yours Sincerely,

Daryl Lum

p.s.Disclaimer: I am a licensed real estate salesperson in Singapore at the point of writing this review. I also own and run a real estate company that specialises in dealing with Bangkok properties. AP Thai and Sansiri are developers whose developments are being marketed by my real estate company. I also maintain a web portal InvestBangkokProperty.com where we list the various new project launches in Bangkok. The purpose of this review is to provide my thoughts and insights for buyers looking to invest in these developments.

Other useful articles:

The good locations for property investment in Bangkok (2023 update)

How has COVID-19 affected the Bangkok property market

Thailand’s new Land and Building Tax Act. Details and potential impact on the market.

An overview of the long stay visas for foreigners in Thailand

My views on the Singapore and Bangkok property markets

My 2018 Bangkok Property Market Review

Thailand Property Market Outlook for 2019

Where are the up and coming property investment locations in Bangkok?

The good locations for property investment in Bangkok

A compelling case to invest in Bangkok

Guide to buying a property in Thailand

Thailand Property: Legal and Tax Issues

Recognising the different property title deeds in Thailand

Can a foreigner take a property loan in Thailand?

Buying property in Bangkok: Payment procedures

A guide to the top property developers in Thailand

Thailand Property Market Outlook for 2018

How to get an Investment Visa in Thailand

Thailand as a retirement destination

How to get a Retirement Visa in Thailand

My personal experience purchasing a property in Bangkok

Things to take note when investing in an overseas property

Factors that determine the property price in Bangkok

Looking to buy a Bangkok condo? Things to take note of.

Thailand property inheritance laws: taxes, succession and wills

How to get an Investment Visa in Thailand

The post My review of Aspire Onnut Station by AP Thai and Nia by Sansiri appeared first on Daryl Lum's Blog.

Recent demand has however still been strong. We are not back to pre-pandemic levels of demand yet and I do not expect that to happen anytime soon as governments around the world try to unwind all the excessive stimulus that happened during the pandemic. However, property is still something that people need as an asset to utilise as well as to add to their investment portfolio. If you are looking to purchase a property, do look for developments from a sizable local Thai developers in very prime locations. If there is one thing you cannot change about Bangkok, it is where the good locations are. Years have gone by and the main shopping belt and business district has always remained the same. Think about all the times you travel there as a tourist. There is usually something new at the usual popular place.

Details about the development

Culture Chula is a freehold condominium by one of Thailand’s larger developers, Ananda Development Public Co. The development consists of 1 residential building of 32 stories with a total of 612 units. The size of the plot of land that this development sits on is approximately 2 rais or about 3200 square meters (1 rai is 1600 square meters).

Where is this development located?

The location map of Culture Chula (according to Google Maps)

Culture Chula to MRT Samyan

Culture Chula to BTS Sala Daeng

Culture Chula is located about 350 meters from MRT Samyan and 400 meters from BTS Saladeang. It is located very close to Chulalongkorn University, walking distance to Lumpini Park and Samyan Mitrtown. Samyan Mitrtown is a popular shopping mall with university students in Chulalongkorn University. There is also an office tower which is linked to the shopping mall.

This area is within the Sathorn Financial District where you can find head offices of large Thai companies as well as multinational companies from around the world.

MRT Sam Yan is one MRT Station from the Sala Daeng-Silom interchange. From this interchange, BTS Siam is two stops away. BTS Siam is where the popular tourist shopping mall Siam Paragon is located. If you are coming from the Asok BTS – MRT Sukhumvit interchange where Terminal 21 is located, MRT Sam Yan is 5 stops away.

My thoughts about the development (selling points and investment potential)

Location is a clear winner. Innovation in the luxury condominium space is very rare in the current mature sphere. Hence I see very little that one particular development can offer that other developments in the same category cannot offer. The facilities are generally similar and after dealing with Bangkok properties for about a decade, I believe that if you purchase a condominium from one of the larger developers in Thailand, you would rarely get a development with subpar facilities and finishing. Therefore, it is imperative that location has to be a key consideration when it comes to investing in a property in Bangkok. Location can be classified in two ways. The first is the location of a development in relation to the whole of Bangkok. The second is the location of that same development in relation to the particular localised area. In this case, the location of Culture Chula in relation to the whole of Bangkok is extremely ideal as it is located within the Sathorn Financial District. Hence Culture Chula scores very highly on the first category. We next move to the second location classification where we look at the location of Culture Chula in relation to the location of other developments in the Sathorn Financial District. For this second location classification, Culture Chula is located at the edge of the Sathorn Financial district rather than the heart of it. This then means that even though the pool of tenants that Culture Chula will attract is significantly higher than if you were to compare to a condominium in a location like say Bang Na, Culture Chula may not be able to assess the full pool of tenants that the Sathorn Financial district has to offer as the tenants working on the other far end of the Sathorn Financial District may not consider a development that is maybe 4 to 5 train stations away from their workplace.

These pictorial depictions illustrate my words.

Location Classification 1: Sathorn Financial District in relation to the whole of Bangkok

Location classification 2: Culture Chula in relation to the whole of Sathorn Financial District

What comes next is pricing. If a development is not located right in the heart of the Sathorn Financial District, it should not be commanding that sort of pricing. It is here that I personally feel the pricing which Ananda has set at the launch of about THB240,000 per square meter to about THB258,000 per square meter is reasonable. This sets investors back just under THB9 million for a one-bedroom apartment on a very decent level and facing. This gives a gross rental yield of about 4% assuming rents are conservatively hovering about THB30,000 per month.

Culture Chula

Culture Chula by Ananda

Pricing 4/5

I think the pricing is just about right and I am basing my calculation on a conservative estimate of rents staying at current depressed levels. Ananda is a developer that consistently produces high-quality condominiums. So at this price, you are getting decent quality fittings. There is no need to do any renovation to get the property ready for rent or for your own stay.

Location 4.5/5

Something in this area does not come along very often. If you are familiar with the Sathorn area in Bangkok you will know that there is very little available land for developers to develop on. Hence when something comes along, it is rare. Usually, the developer will have to buy the land from a previous owner, demolish the existing structure and replace it with a new development. I have done a thorough enough analysis of the location fo Culture Chula earlier to substantiate me giving a 4.5 but not a perfect 5.

Quality 4/5

Ananda rarely disappoints. However, I do not like the colour scheme of the development. But that is just a personal preference. I can understand the theme of the development in that it should blend in with the rest of the area. This area being close to Chulalongkorn University and hence the name Culture Chula.

Quality 4/5

This rating is the same for all 3 developments.

Yours Sincerely,

Daryl Lum

p.s.Disclaimer: I am a licensed real estate salesperson in Singapore at the point of writing this review. I also own and run a real estate company that specialises in dealing with Bangkok properties. Ananda Developments is a developer whose developments are being marketed by my real estate company. I also maintain a web portal InvestBangkokProperty.com where we list the various new project launches in Bangkok. The purpose of this review is to provide my thoughts and insights for buyers looking to invest in these developments.

My other Bangkok Property Reviews:

My review of Noble Ploenchit and 98 Wireless

My review of XT Phayathai, XT Huai Khwang and XT Ekkamai

Other useful articles:

The good locations for property investment in Bangkok (2023 update)

How has COVID-19 affected the Bangkok property market

Thailand’s new Land and Building Tax Act. Details and potential impact on the market.

An overview of the long stay visas for foreigners in Thailand

My views on the Singapore and Bangkok property markets

My 2018 Bangkok Property Market Review

Thailand Property Market Outlook for 2019

Where are the up and coming property investment locations in Bangkok?

The good locations for property investment in Bangkok

A compelling case to invest in Bangkok

Guide to buying a property in Thailand

Thailand Property: Legal and Tax Issues

Recognising the different property title deeds in Thailand

Can a foreigner take a property loan in Thailand?

Buying property in Bangkok: Payment procedures

A guide to the top property developers in Thailand

Thailand Property Market Outlook for 2018

How to get an Investment Visa in Thailand

Thailand as a retirement destination

How to get a Retirement Visa in Thailand

My personal experience purchasing a property in Bangkok

Things to take note when investing in an overseas property

Factors that determine the property price in Bangkok

Looking to buy a Bangkok condo? Things to take note of.

Thailand property inheritance laws: taxes, succession and wills

How to get an Investment Visa in Thailand

The post My review of Culture Chula appeared first on Daryl Lum's Blog.

Recent condominium developments in Bangkok have had standards cranked up a couple of notches. The innovation which developers in Bangkok have come up with have been rather creative but I personally think that this series of developments by Sansiri is one of the most unique on offer.

Details about the developments

XT Phayathai is a freehold development about 700 metres from Phayathai BTS and Airport Rail Link. There is an old building that is sitting on the plot of land and it will be demolished before construction on XT Phayathai will start. The size of the plot of land is approximately 3 Rai and XT Phayathai will consist of 1 residential building with 2 towers. Tower 1 will be 41 storeys tall and Tower B will be 37 storeys tall. The total number of units will be 1435 and the development is expected to be completed in 2023. There will be 1 and 2 bedroom units in the development.

XT Huai Khwang is a freehold development just next to Huai Khwang MRT Station. The size of the land is approximately 6 Rai and the development will consist of 1 building with 2 towers. Tower A will consist of 43 storeys and Tower B will have 14 storeys. The total number of units in XT Huai Khwang is 1405 and the development is expected to be completed in 2021.

XT Ekkamai is a freehold development located along Sukhumvit Soi 63, just north of the junction of Sukhumvit Soi 63 and Thong Lor Soi 10. The size of the land is approximately 2 Rai and will consist of 1 residential building of 38 storeys and 1 mechanical building with 9 storeys and 3 levels of basement. The total number of units is 537 and the development is expected to be completed in 2020.

Where are these developments located?

XT Phayathai

Phayathai BTS and Airport Rail Link to XT Phayathai

XT Phayathai is located along Sri Ayutthaya Road and is about 700 metres of 9 minutes walk to Phayathai BTS Station and Phayathai Airport Rail Link. Phayathai BTS is 2 BTS Stations away from Siam BTS Station which is where popular tourist shopping malls like Siam Paragon and Siam Discovery are located. The surrounding area around XT Phayathai is filled with government offices, schools and tuition centres. Just opposite the road is Phayathai 1 Hospital and about half of the journey to Phayathai BTS is Pullman Bangkok King Power Hotel. XT Phayathai is a very nice residential area that is situated just at the fringe of the main Bangkok shopping belt.

Ratchaprarop Airport Rail Link to XT Phayathai

If you land in Suvarnabhumi Airport, you can take the Airport Rail Link directly from the airport to Phayathai Airport Rail Link or alternatively you can stop at Ratchaprarop Airport Rail Link and walk to XT Phayathai. The walk is slighly shorter, approximately 600 metres and will take 8 minutes.

Phayathai is already an interchange between the Airport Rail Link and The BTS Line. In future, there will be a light red line which will pass through Phayathai Interchange. This Light-Red Line will bring commuters to the Bang Sue Grand Station.

XT Huai Khwang

Huai Khwang MRT to XT Huai Khwang

XT Huai Khwang is located right next to Huai Khwang MRT Station. Once you come out of the MRT Station, the condominium is located next to it. It should take a minute or less to get to the condominium.

Huai Khwang MRT Station is located one stop from Thailand Cultural Centre MRT Station and two stops from Rama 9 or Phra Ram 9 MRT Station. Thailand Cultural Centre is where the Stock Exchange of Thailand is located and will be the interchange between the Blue MRT Line and the upcoming Orange Line. The Orange Line will have stations at Pratunam and Ratchathewi which is one BTS Station away from Siam BTS.

XT Ekkamai

XT Ekkamai Location Map

XT Ekkamai is located just around the corner from where Thong Lor Soi 10 is. It is located one street away from Sukhumvit Soi 55 which is where many popular dining establishments and high-end hotels and community malls are located. Properties along Sukhumvit Soi 55 are extremely expensive and are very popular among the expatriate community in Bangkok.

In future, there will be a Grey train line that will have a station named Thong Lo 10. It should be located along Thong Lor Soi 10 and XT Ekkamai is located very close to Thong Lor Soi 10. The Grey Line, even though work has yet to commence and is still in its planning stage, is essential to bringing residents from Thong Lor, Ekkamai, Phra Khanong and On Nut to the Sathorn Financial District.

The selling points about the developments

I mentioned earlier that these developments by Sansiri had something unique on offer and to me, this will be one of the key selling points of the developments. Granted that the number of new project launches in Bangkok is high, Sansiri has come up with quite a novel concept for their XT series of developments. Owning a condominium under the XT series will allow you access to the co-sharing facilities of other condominiums in the XT series. For example, if a buyer bought a unit at XT Phayathai, he could go to XT Ekkamai or XT Huai Khwang and use the shared facilities there. Some examples of the co-sharing facilities are co-working and play space, photo studios, cooking studios, arts and crafts studios. Sansiri is trying to redefine the concept of owning a condominium. They are making it seem like buyers are joining a club. This is on top of buyers already gaining access to Sansiri’s VIP lounge at Siam Paragon for Sansiri family members.

The next selling point would be the location of these developments. All three are located in prime locations. XT Phayathai is near Phayathai BTS which is 2 BTS stations away from Siam BTS and thus is very centrally located in Bangkok. XT Huai Khwang is located on the fringes of Rama 9, the new Central Business District (CBD) of Bangkok and XT Ekkamai is located in Ekkamai and close to the portion of Thong Lor where expatriates and wealthy Thais frequent. All 3 will benefit from the upcoming improvements and expansion of Bangkok’s rail network.

Price wise, considering the neighbouring developments and the fact that these developments are developed by Sansiri, is rather reasonable. XT Phayathai is priced at approximately THB 168,000 per square meter, XT Huai Khwang is about THB 165,000 per square meter and XT Ekkamai is at about THB 185,000 per square meter. Out of the 3, I do think that XT Phayathai’s pricing is rather attractive considering that competing new project launches in the area are going for about double that price per square meter. I did rank XT Phayathai very favourably in my 2018 Bangkok Property Market Review.

My thought about the developments

I do think that the mock-up units at the sales galleries are a little gaudy. I do think that even though the XT series are targeted at millennials, they could have done better with the choice of colour. Out of the 3, I favour XT Phayathai for the location and pricing. If buyers are looking for something next to the MRT Station then XT Huai Khwang would be it. XT Ekkamai would appeal to those who are familiar with the Ekkamai and Thong Lor area.

For buyers looking at XT Phayathai and XT Ekkamai, they need to be aware that these are very large developments with 1,435 and 1,405 units respectively. Buyers need to select the right units in the developments to give them a better chance of renting or reselling in the future. Many buyers neglect the fact that they have to select the right unit in a new project launch and in many instances, this may be more important than selecting the right development. Units with unique selling points, good facing, away from road noise and units on levels with easy access to facilities are just some of the things that buyers should take note of when selecting a unit. This is even more important when there are more than 1,400 units in a development.

XT Phayathai

XT Phayathai by Sansiri

Pricing 4.5/5

I find it very reasonably priced. Units are generally priced at around THB 180,000 per square meter for a mid-level unit. A 1-bedroom unit in the area currently rents for approximately THB 25,000 onwards.

Location 4/5

I would give it a higher score if it were nearer to the train station. However, once you get to Phayathai BTS and Airport Rail Link, you are located about 5 minutes to Siam BTS which is 2 BTS stops away. You are also on the Airport Rail Link which leads you to Suvarnabhumi Airport.

Quality 4/5

Sansiri’s quality is undeniable. However, I am rather perplexed at the design choices of the whole XT series. However, XT Phayathai’s colour scheme is the best out of the 3. You can view videos of the sales gallery in the links below to understand what I mean.

XT Huai Khwang

XT Huai Khwang by Sansiri

Pricing 3.5/5

Prices in this area have been climbing but Sansiri’s offering is priced at a slight premium as compared to other developments in the area. This, however, is right next to the MRT station. You cannot get any closer to the train station than this.

Location 4/5

Huai Khwang is turning out to be the next Chinatown. This area is very popular with the Chinese and it is one station away from Thailand Cultural Centre MRT Station, which is where the Stock Exchange of Thailand is located. That particular MRT Station will also be an interchange with the upcoming Orange Line.

Quality 4/5

Once again it is from Sansiri. I am giving the same score to all three developments. The quality is undeniable but I am just not too impressed by the choice of colour schemes chosen.

XT Ekkamai

XT Ekkamai by Sansiri

Pricing 4.5/5

Just a couple of metres away and you will reach Thong Lor Soi 10. Prices there are significantly higher than those at XT Ekkamai.

Location 4/5

It is Ekkamai and Thong Lor. This is where the affluent Thais and a large part of the expatriate community likes to frequent and live in. You will get a large number of Japanese looking for properties in this area. Granted that the Ekkamai BTS Station is a distance away but this area is still hotly sought after. There is a huge Don Don Donki Mall coming up just around the corner. The future Grey Line will have a station at Thong Lor Soi 10. I am inferring this from the station’s name, Thong Lo 10. The Grey Line is still in its planning stage but I do believe the line is essential as it gets commuters from this area to the Sathorn Financial District, thus alleviating the huge congestion on the current lines during peak hours.

Quality 4/5

This rating is the same for all 3 developments.

Yours Sincerely,

Daryl Lum

p.s.Disclaimer: I am a licensed real estate salesperson at the point of writing this review. My real estate agency in Singapore is the marketing agency for all 3 developments. I also run a real estate company in Bangkok and we are marketing Sansiri’s developments. Sansiri is one of the developers which our company is working with. I maintain a web portal InvestBangkokProperty.com where we list the various new project launches in Bangkok. The purpose of this review is to provide my thoughts and insights for buyers looking to invest in these developments.

My other Bangkok Property Reviews:

My review of Noble Ploenchit and 98 Wireless

Other useful articles:

My 2018 Bangkok Property Market Review

Thailand Property Market Outlook for 2019

Where are the up and coming property investment locations in Bangkok?

The good locations for property investment in Bangkok

A compelling case to invest in Bangkok

Guide to buying a property in Thailand

Thailand Property: Legal and Tax Issues

Recognising the different property title deeds in Thailand

Can a foreigner take a property loan in Thailand?

Buying property in Bangkok: Payment procedures

A guide to the top property developers in Thailand

Thailand Property Market Outlook for 2018

How to get an Investment Visa in Thailand

Thailand as a retirement destination

How to get a Retirement Visa in Thailand

My personal experience purchasing a property in Bangkok

Things to take note when investing in an overseas property

Factors that determine the property price in Bangkok

Looking to buy a Bangkok condo? Things to take note of.

Thailand property inheritance laws: taxes, succession and wills

How to get an Investment Visa in Thailand

The post My review of XT Phayathai, XT Huai Khwang and XT Ekkamai appeared first on Daryl Lum's Blog.