Knight Frank Thailand, a property consultant firm in the country, said that the prices of the condominium units in Sukhumvit starting at the low-numbered Soistrailing to Ekamain is expected to maintain its high range. This path is also where the best hotels in Sukhumvit Soi 11 can be found thus the state of the market in this area is booming.
According to the research conducted by the firm before the end of the previous year, the average price of the condo unit for every square meter is 181,800 baht. This is in properties that are located between Sukhumvit 1 and Sukhumvit 63.
Compared to the prices one year before that, there has been a noticeable increase of 15 per cent. There is also a steady increase in terms of the cost of land plots in the area which are very limited only. This is most true in land plots that are close to the main road.
This is the main reason why real estate developers are flocking to the exterior areas of Sukhumvit including On Nut as well as Samrong. These areas are considered to have the best location, the land costs are also very favourable and there is encouraging number of public utilities as well as infrastructure. When looking at the location angle, On Nut going to Samrong has the best connection through the skytrain which is why many developers are already on their toes constructing mixed-use establishments.
Bangkok Mall, another project born out of the partnership between City Realty Co and The Mall Group, is going to be constructed between Bang Na and Trat Road in a piece of 100 rai land that sits just across the Bitec Bang Na. The project will house serviced apartments, a shopping complex, office buildings as well as condominiums. The establishment is expected to be launched to the public by 2022.
This will further add to the gem of the area knowing that the best hotels in Sukhumvit Soi 11 are also close to the location. It will call out not just to the locals but also to tourists who are planning to visit the capital city of Thailand.