In recent years, investors are sinking money into Bangkok as it is becoming a business hub of Asia.
Government’s investment into infrastructure has increased the confidence of housing buyers. To improve Bangkok’s traffic, Bangkok government’s effort in expanding its mass transit routes has driven more developments along the metro system or BTS Sky Train. There are also plans for a high speed railway connecting China to Thailand, which may potentially attract more than 2 million Chinese tourists each year.
The housing price of prime central areas are rising and some are selling up to Bt 600,000 per sq. m. A popular development like 98 Wireless by Ralph Lauren on Wireless Road are priced from Bt 60 million to more than Bt 300 million.
Thong Lo, located in the heart of Thailand’s capital, is an affluent neighborhood of Bangkok. It is traditionally the domain of ultra-fashionable and wealthy Thais. The community is often compared to Beverly Hills in Los Angeles, Mayfair in London or The Peak in Hong Kong for its refined and contemporary atmosphere. The city’s cognoscenti are attracted by such lifestyle options and gather to enjoy a flourishing array of sophisticated bars, boutique shops, fashionable clubs and restaurants serving regional cuisine, just like the SOHO area of Hong Kong that is admired by hip locals, expats and overseas tourists. Aside from this, Thong Lo is an international community with comprehensive facilities such as private hospitals, lifestyle establishments and leading academic institutes.
Acquiring a suitable land plot in Thong lo has become extremely difficult as most of the lands are owned privately with houses built for owner occupiers. Therefore, the demands remain high for residential properties in this area, either for rent or for sale. Prices of luxury condominium in Thong Lo has grown at a faster rate than projects in side roads in nearby neighborhoods during the past couple of years. Luxury condominium projects in the area often includes trophy penthouses on the top floors and some comes with private swimming pools as well. The condominium building itself commonly offers remarkable specifications with spa facilities, Jacuzzi, sauna, golf simulator fitness center, and steam rooms. Sky garden on high-levels and outdoor yoga studio can also be found in some projects that are well received by the younger generations. A duplex penthouse with panoramic view can cost as much as Bt 350 million.
Very much like Fifth Avenue in Manhattan, New York, Wireless Road in Bangkok is a unique fuse of modern elegance and historical presence. It is the road where commercial and diplomatic districts intersect, with world-class shopping destinations, five-star hotels and restaurants, high-rise office buildings, embassies and consulates, as well as one of the Bangkok’s largest parks within steps from each other. Most importantly, Wireless Road is the only tree-lined street in the centre of the city, providing the sense of a private retreat that specifically caters to the demands of discerning Thai and foreign residents.
Wireless Road is considered as a prestige location, located next to Lansuan Road which is close to Ploenchit BTS Station. The scarcity of land in this neighborhood leads each deal on the road’s piece of land always hitting new record high. Along the street are latest condominium projects by Thailand’s leading developers surrounded by embassy rows, and Bangkok’s historic landmarks. The average selling price of a freehold super luxury condominium there can be as much as Bt 600,000 per sq. m., shattering local records again. The estimate value of land on Wireless Road soars by 70 per cent on average each year, more than double when compared to other popular areas like Silom and Sathorn Roads.
Ratchadamri Road locates in Pathum Wan District, Bangkok, adjacent to Siam area. It is one of the Bangkok’s major avenues that dates back to the reign of King Chulalongkorn (1868-1910). This road was once lined with premises of foreign embassies with long-established diplomatic relations with Thailand. With property development companies hunting for privileged yet limited land in Bangkok’s central business district, foreign embassies seized the opportunity to sell their properties in this prime location, giving way to Bangkok’s luxury property market.
Luxury condominium projects here offers the green scenery of horse race course in the Royal Bangkok Sports Club and Lumpini Park, so living here is like enjoying the view on Central Park in New York, Hyde Park in London or the Tuileries Garden in Paris. One penthouse at an upscale condominium project launched in 2014 was sold at Bt 470,000 per sq. m. for a 503 sq. m. It is the last remaining freehold residential development along the historical Rajadamri Road.