According to CBRE Bangkok Residential MarketView, In this quarter, we have seen large public listed developers such as Supalai and Sansiri coming back to launch high-rise condominiums in the downtown market. The hottest condominium project was the XXXIX by Sansiri.
This project, located in Soi Sukhumvit 39, was the most expensive project that has ever been launched in the Sukhumvit area with the average asking price at THB 200,000 per square metre.
First luxury condo launched in SUKHUMVIT AREA AT THE Average asking price of THB 200,000 PER SQUARE METRE
This project was, according to Sansiri sold out within days of the launch. The sizes of the one to three bedroom units were smaller than other super luxury projects at this price level.
Sukhumvit soi 39 and Charoenrat/Sathupradit in the Rama III area are expected to be new hotspots for downtown condominium market. Sukhumvit soi 39 has a close proximity to mass transit and near the new Emporium, Emquatier.
Resale prices for the best completed projects continue to rise. The best quality projects with good accessibility enjoyed greater price appreciation. The steady increase in land prices especially along main roads and rising construction costs means that any new development in the downtown area will have to set prices above existing levels.
This is an extract from CBRE‘s Bangkok Residential MarketView Q4 2012. To read the full document please click here.
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Bangkok Luxury Residential launch in Sukhumvit area avg. at THB 200,000/sq.m. Q4 2012