Asoke Area Overview
Asok is an established part of the Central Business District and is considered the commercial center of Sukhumvit. The area is a place of business, as it hosts the headquarters and operations of numerous national and international companies. The attraction of Asok as a business hotspot stems primarily from two major factors:
1. Office Buildings
The area hosts a multitude of office buildings that offer commercial spaces at numerous price ranges. This can vary from whole floors (150+ Square Meters) to smaller serviced or shared offices. Some notable office towers located in the area include Serm-mit Tower, GMM Grammy Tower, Exchange Tower and Interchange Tower.
This concentration of offices can be attributed to a simple factor, the availability of convenient transport links.
Firstly Asok hosts the BTS/MRT interchange, which allows commuters to switch between the Skytrain System (BTS Asok) and the MRT (MRT Sukhumvit). This is an attractive proposition, especially for businesses as staff can quickly and conveniently commute to and from the area.
From a road user perspective Asok Montri (Sukhumvit 21) and Ratchadapisek Road are major arteries that connect Sukhumvit Road to Rama 4 Road and Phetchaburi Road. On top of this, the entrances to the Expressways are located in close proximity to Asok therefore allowing drivers to connect directly to other parts of Bangkok.
On a final note, Asok also hosts the Makkasan Airport Rail Link that connects Central Bangkok to Suvarnabhumi International Airport. This has positioned the area as a dynamic and accessible location for both business travelers and tourists.
These two factors have solidified Asok’s dominance as a business and commercial hub; consolidating its position as a prime and desirable CBD location.
Local Lifestyle Overview
Life in Asok tends to follow a “weekday” and “weekend” pattern!
During weekdays, the environment is dynamic and bustling with activity due to the presence of office workers that temporarily populate the neighborhood. However, during weekends the area tends to be quieter and more relaxed.
As a residential location, Asok stands its ground and offers a comfortable lifestyle comparable to its residential counterparts (I.e. Thong Lo, Ekkamai, etc.). The neighborhood offers a multitude of relaxing venues that offers leisure options to local residents. Some popular places of interest include:
A Shopping Complex located in the heart of Sukhumvit 21 that hosts restaurants, eateries, cafes and a variety of shops. This complex is a popular lunch time destination for office workers during weekdays, due to the variety of eating options offered.
This conveniently located department store is connected to BTS Asok via a skywalk. It is a popular shopping destination due to its location. The store also hosts a large Tops Supermarket (Selling Food and Consumer Goods) and a food court.
This is an impressive Shopping Mall where each floor is themed after an international city (I.e. London, Tokyo, Rome Paris, etc.). The complex offers visitors a complete shopping and leisure experience; hosting a multitude of shops, a supermarket, a gym and even a cinema.
Asok is a diversified and balanced neighborhood that offers more than just shopping centers. Some other notable places of interest include:
Bangkok is a modern metropolis with skyscrapers and glitzy malls, however the city can often feel urban and green spaces are often taken for granted. Asok however, hosts one of the largest parks in central Bangkok. This park is located in close proximity to Queen Sirikit National Convention Center (Next to MRT Queen Sirikit). The park is an ideal and convenient spot for some outdoor exercise or simply to relax.
Queen Sirikit National Convention Center
This convention center and exhibition hall is a notable venue that often hosts a range of exhibition and events. This ranges from cultural exhibitions, travel fairs and even property shows. A notable event is the “House and Condo Show” that is hosted twice a year for residential developers to showcase their latest projects.
Asok is a widely-defined area as it includes a collection of roads that offers a multitude of leisure options. This ranges from bars, pubs, restaurants, spas, etc. therefore providing an amazing work life balance to local residents.
Property Investment Overview
As mentioned in the introduction, Asok is considered the heart of Sukhumvit’s Central Business District. It is an established, popular and prime location due to the multitude of quality retail, commercial and residential options offered to local residents.
Asok Properties, tend to offer appealing buy-to-let opportunities. As the area, benefits from a steady stream of potential tenants; the neighborhood is considered premium and rental rates tend to cluster around the mid/mid-high price ranges. Clients for rental condos in the area, tend to be expats that have offices based in Asok or neighboring commercial hubs (I.e. Phrom Phong, Nana and Ploenchit).
The area is well-balanced offering a combination of convenient transport and leisure options. This has been positive for property owners who have generally experienced an upward trend in the sales price of their units. While Asok is already considerably developed, it is still experiencing intensive regeneration and gentrification. Two notable market/area trends:
Sukhumvit 21 (Asok Montri-Phetchaburi Intersection)
The northern tip of Asok, where Sukhumvit 21 meets Phetchaburi Road is currently experiencing development frenzy. The most notable project is the Singha Complex by the Public Listed Company Singha Estate PCL; this project will be an extensive mix-use commercial complex. The project will include a Grade-A office building and shopping mall that will add a much needed leisure hub to this part of Asok.
It is important to note that the area is also experiencing considerable residential development activity. With numerous developers currently launching and developing condos. Some notable projects include:
Ratchadapisek Road-Rama 4 Intersection
Generally most of the development activity (Commercial, Retail and Residential) tends to cluster around Sukhumvit Road and Phetchaburi Road. Rama 4 Road and its neighborhood has often been overlooked and ignored.
However with the rapidly increasing prices of developable land plots in the prime locations, the area is experiencing natural spillover. The Ratchadapisek Road-Rama 4 Intersection is a natural hotspot of this market trend. The area has recently welcomed the launch of FYI Centre; this project offers a 12 Storey Hotel and 14 Storey Office Complex.This trend is likely to gain momentum and Rama 4 will inevitably experience further gentrification and development.
These exciting market shifts, are already having a positive local impact on the Condos in the area. Medium/Long-term this could potentially generate lucrative investment opportunities for property owners and investors.
Asok Condo Options
When referring to the Asok area, local residents tend to refer to the commercial and retail activity concentrated in and around Asok Montri Road (Sukhumvit 21). However the area in itself is comprised of a collection of widely-define roads. Examples of some “Sois” that are considered part of Asok, include Sukhumvit 14, 15, 16, 18, 19, 23.
Therefore Condos offered in the neighborhood tends to be sprinkled around a wide-area. Asok offers a variety of residential options to suit a variety of housing requirements. While exceptions are available (Depending on the location and Condo) price ranges for both sales and rental generally tends to be offered at a premium.