To start off this property review, I will need to get this point across initially. Currently it is easier to rent a property in central Bangkok than it is to sell. If you are a landlord in Bangkok, you will find it easier to rent out your property. This is especially true if you have a one-bedroom unit that is under THB30,000. The Destination Thailand Visa, colloquially known as the digital nomad visa, has been successful in attracting a large number of foreigners to Thailand. This is the reason why rental demand has been strong. The rental yield is somewhere in the region of 4 to 5% per annum. Do not believe anyone if they tell you that the rental yield of a certain property is higher than this rate. If you are purchasing a property of about THB 4 million, you should get a rent of about THB 20,000 per month. That works out to a gross yield of 6% per annum. After factoring in expenses like maintenance, agent and property management fees and property and income taxes, the net yield is somewhere in the region of 4 to 5% per annum. As a property buyer you should familiarise yourself with the rental market in the area. You can find out how much comparable units are renting for just by looking at online property portals. Also, if you are looking to purchase an uncompleted development which will be completed a few years into the future, the rent should be marginally higher. The reason for the higher rent is because the development will be newer that what is on the market and hence demand for newer properties is usually higher. Also, prices do increase gradually over time. Inflation makes rents increase. They have been increasing. Just like everything else in Bangkok.

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.