Bangkok is a large city but its most popular area is Sukhumvit. It is home to many local businesses, business district with business hotel in Sukhumvit and the most luxurious condominium properties in the capital. With popularity comes to continued increase in the prices of the condo units for sale. The increase makes one wonder, especially those who are active in investing, if it is still worth it to get a unit there to rent, live in or resell later on.
The area is known for its upscale properties complete with business centers and lifestyle amenities. It is also a magnet for high-end shoppers because of the luxury shopping malls. The area is also very accessible through public transport which is why it is attractive for both locals and tourists visiting the capital city of Thailand.
As the popularity of Sukhumvit soars to a high, property developers can’t help but invest more in this area for luxury projects such as condominiums. The end result is that the units are now sold at very high prices and the rental prices are set much higher for bigger gains for the owners.
Based on the latest figures released by a property advisory firm, a condominium unit in Sukhumvit has increased from 183,000 baht for every square meter to 255,000 baht in just a span of five years. The increase is almost 40 per cent.
In terms of condominium units for sale, the average price for the first quarter of 2018 is 208,600 baht per square meter. Units that are locatd in Thong Lo reaches 315,000 baht per square meter while those in Chitlom-Langsuan averages 262,000 per square meter. These are the areas that are known and preferred by local investors along with foreign nationals. There is not much space available in Sukhumvit for a residential property to be constructed in therefore the prices of the ones already there continues to spike.
This is a target for many investors though because when the units are put up for rent or for resell, the owners are able to get the highest return. This is why it is not surprising that even a business hotel in Sukhumvit is quite expensive yet the amenities are exuding luxury.