Real Estate

City condominium Developers follow Mass Transit lines

The evolution of Bangkoks property market over the past two decades has closely tracked the development of rail mass transit, with a huge increase in condominium supply along BTS and MRT routes.

Published

9 years ago

March 4, 2012

Daniel Lorenzzo

It is no accident that the massive surge in project development in suburban areas coincides with announced plans to extend mass transit routes into the greater metropolitan area

The evolution of Bangkoks property market over the past two decades has closely tracked the development of rail mass transit, with a huge increase in condominium supply along BTS and MRT routes. As new rail lines and extensions slowly take shape, condominium developers are looking farther afield to the suburbs, where single houses and townhouses used to dominate the market.

The BTS skytrain began operation officially in December 1999

Most of the condominium units in Bangkok from 1993-1998 were located in business areas, such as Sukhumvit, Silom and Sathon roads in the city centre, on Ratchadaphisek Road in the northern fringe area, and Rama III Road in the southern fringe area. Those five main roads were popular for condominiums as all were located in or connected to the citys main commercial areas.The BTS skytrain began operation officially in December 1999, connecting Silom, Sathon, Sukhumvit, Phloenchit, Phaya Thai, Rama I and Phahon Yothin roads within the inner city area.

The MRT underground line opened in 2004.

Both lines helped stimulate the condominium market as many projects were launched along the routes and near stations, especially from 2001-2005, with some developments also in the suburban Bangkok area.The success of mass transit in the city led the government to plan extensions of both lines to suburban Bangkok, and an official announcement in 2006 called for five new lines, starting with the construction of the MRTs Purple Line in 2009 and its Blue Line in 2011.

The Purple Line will extend from the Bang Sue station and run to Bang Yai in Nonthaburi. Most residential projects now along this line are housing estates, with a few condominiums launched in the past two years, most of them in the Bangkok area.

via All aboard! city condominium developers follow rail lines

Related Topics:bts condominium mass-transit

Up Next

Chiang Mai luxury housing Jirung Residences unveiled

Don't Miss

Global Office Rent and Capital Value Stable in Q4 2011(CBRE)

Daniel Lorenzzo

Comments

Real Estate

How COVID-19 is boosting digital twins in office buildings

The digital twin market — the phrase used to describe a virtual copy of a physical building, combining a 3-D model of a facility with the dynamic data needed to show visualizations and analysis — is growing at hyperspeed.

Published

22 hours ago

September 21, 2020

Daniel Lorenzzo

The 65-story skyscraper at 311 South Wacker Drive in Chicago boasts magnificent views of the Chicago River, Grant Park and even Lake Michigan. However, for the owners, visibility of the building’s inner workings was more important, and more difficult to access.

(more…)

Real Estate

Covid-19 puts flexible space markets under strain

Long-term future of flexible space remains bright says JLL, but the global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space.

Published

3 months ago

June 19, 2020

Daniel Lorenzzo

Despite varied market conditions and end-user demand across the region, the Covid-19 outbreak has put some operators under financial strain

The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.

(more…)

Real Estate

Thai Cabinet slashes 2020 property tax by 90%

The Cabinet today approved a 90 percent reduction in the Land and Building Tax this year to help the general public cope with economic disruption from COVID-19, and prevent potential issues with land and building taxation in the future.

Published

4 months ago

June 4, 2020

National News Bureau of Thailand

BANGKOK(NNT) – The Cabinet has approved a reduction in Land and Building Tax this year of 90 percent to help ease economic disruption from the COVID-19 pandemic.

(more…)