The neighbourhood of Sathorn stretches from Lumpini Park all the way to Chao Phraya River. Aside from trendy hotels, the area also boasts of Luxury House in Sathorn including high-end serviced apartments. The outstanding location of Sathorn resulted into phenomenal growth in recent years. It has increasingly become a favourite destination for expats, business travellers and long-term visitors.
Foreign investors will remain to be the key players in condominium investments whether big or individual. Overseas investors are interested to go into joint ventures with Thai developers for large and small projects. Foreign investors are usually the source of funds and they bring their technology in project development.
Most of the foreign investors who are interested in joint ventures come from China, Japan and Hong Kong. Individual investors from foreign countries who are buying condominium units for long-term investment or rental business are significantly increasing.
A number of new projects in outer Bangkok locations are being launched but they are minimal; however, the number of units per project is more. The demand for condominiums remains strong and it is expected to continue at the same rate as supply. In 2018, the number of units that will remain for sale in the market is estimated at around 58,000 to 60,000 units.
It is also expected that the price of condominium units in Inner Bangkok will rise by at least 11%. Increase in price in Outer Bangkok will be lower at about 5% to 6%. The average price of condos currently in the market will increase by at least 8%.
In 2018, the trend will be the development of 7 to 8 storey-high condos because available lands on the main road are rare. The prices of land will continue to increase. Large and new developers will continue to be interested in luxury and super-luxury segments. Prices will continue to rise because of the demand from investors.
Many investors want a Luxury House in Sathorn as their second home. Majority of developers in the luxury home segment will be the large firms that can afford the prices of land near public transport in the city. Luxury projects will remain in the inner city near mass transport lines.