As Property Agents we experience first-hand, the beginnings of trends and shifts in market expectations. Currently super-luxury condominium projects and the emergence of hot new neighborhoods are currently making headlines in the press. However hidden by all this hype, a more discreet shift is emerging and that is the growing appeal of “older” condos!

Interestingly, our Agency is experiencing a growing level of interest for Condo Units with renovation and refurbishment potential from both Thai and Expat buyers. Investors and home seekers are coming forward and expressing interest in “older condos” attracted by three main factors:

• Spacious Layouts
– Modern Condo Projects no longer offer spacious living areas; with new launches offering standard 1 Beds between 30- 35 Sqm. and 2 Beds between 50- 75 Sqm. Conversely Condos in some older projects often offer floor space over 100 Sqm.

• Relative Affordability
– In many cases Older Condos are centrally located and are offered at steep discounts per square meters compared to their more modern counterparts.

• Potential to Add Value
– Some Condos have not been modernized since they were purchased, thus offering the potential to recreate and refashion the interiors into unique ultra-modern city pads.

However buying into Older Projects especially in Bangkok can be a risky affair. Some condos are badly maintained and benefit from very weak sales and rental demand. Therefore being selective is vital!

Here are 3 Older Condominium Projects worth considering:

1. The Waterford Diamond

Completed: 1998
Developer: Waterford Group
Floors: 46
Units: 498

The Condo is located between two appealing and exclusive neighborhoods, “Thonglor and Phrom Phong”. As a result residents of Waterford Diamond are in close proximity to the numerous leisure and lifestyle venues offered by both neighborhoods. This allows the Project to benefit from a stable rental and sales market.

While in the past The Waterford Diamond did have some Management issues, it seems the Condo is now getting its act together and the building is fairly well-managed. A major selling point is a health and fitness club (Balance Health Club) operates on the 10th Floor and residents can enjoy the facilities of this establishment for heavily discounted rates.

Facilities at The Waterford Diamond!

Balance Health Club at The Waterford Diamond

The Project offers units ranging between approx. 52- 140 Sqm. and in many cases the interiors have not been modernized or refurbished. A great selling point of the Condominium is that most individual Units benefit from stunning and unobstructed skyline of Central Bangkok.

Dated and Unmodernized Unit at The Waterford Diamond Condo!

2. Las Colinas

Completed: 1995
Floors: 44
Units: 198

The Condo is located right next to BTS Asoke and sits on Sukhumvit Soi 21 which is the heart of Sukhumvit’s business district.

Numerous Units in Las Colinas offer Stunning Asoke Skyline Views

Las Colinas offers a pleasant living experience with an active Management Team that keeps common areas and facilities in generally good condition. The residents of the building have access to a fully-equipped gym, pool and garden area.

A major benefit of Las Colinas condo units, are their enviably spacious layouts that offer ideal space for both sharers and families. Units benefit from large balconies and many of them offer gorgeous views over bustling Asoke.

Spacious Condo Units at Las Colinas

3. Royal Castle

Completed: 1993
Developer: T.H.Y. Real Estate
Floors: 24
Units: 146

This Development is located on Sukhumvit Soi 39 and is only a 10 Minutes’ walk from BTS Phrom Phong. It is important to note, that the Project is located in an ultra-desirable section of Sukhumvit; the road, will soon welcome the newly launched The Diplomat 39 and XXIX by Sansiri (2 Super-Luxury Residences)!

The neighborhood is a popular rental neighborhood especially for Japanese and Korean Expats and therefore Condos in the development benefit from a solid sales and rental market.

While Royal Castle offers average amenities such as a Gym and Pool, its biggest appeal is the renovation potential of its Condos. The Development offers numerous family-sized units notably 2, 3 and 4 Beds condo types between 120- 250+ Sqm. This spacious layout is an attractive canvas for a complete renovation or refurbishment project!

Royal Castle Renovation Potential!