Bangkok is without a doubt a complicated City; neighborhoods and areas are a complex patchwork that cannot be organized using conventional postcodes or roads.
Even property professionals still argue over the exact boundaries of the Central Business District (CBD).
Condos vary in price, specification and popularity thus resulting in a wide difference in price between condos that sometimes sit side-by-side. This perplexing and confusing state of affairs means that opportunities abound!
Perhaps an interesting detail that affects the immediate and potential resale value of a Condo investment is the “Condo Developer” which sticks out like the label of a famous brand (I.e. Nike, Apple or McDonalds).
This detail may be surprising especially for foreigners however there are several reasons why this is the case, notably:
1. Brand & Track Record
Some Developers have a solid track record of successfully completed Condo Projects that have been successful residential successes and proven to be profitable investments. These homebuilders have thus developed a reputation which means any present and future developments, are viewed by the general market as having “cachet” and “prestige”.
2. Management and Maintenance
Good developers often have a formal and organized management plan in regards to what happens once they sellout and transfer most of the units to homeowners. Building Management especially of the common areas and facilities is an important part of maintaining a building’s value. Some residential developers have taken it a step further and even setup their own building management and brokerage subsidiaries!
3. Building Quality
Finally the most fundamental reason for the higher price and better investment value of Projects by certain Developers is simply that they build and design better! Experienced Developers put enormous resources into design, floor planning, facilities/common area planning and general material quality. Building standard vary greatly in Bangkok’s property market however developments by solid Developers always standout.
So now that we understand the fundamental reasons why selecting a Condo from the right developer is important.
Here is a brief roadmap of some of the leading Bangkok homebuilders:
Without a doubt Sansiri is one of the most well-known condo developers and its reputation can be easily compared to the “Rolex” of the Industry. Ask any Thai if they have heard of Sansiri and the response will be unanimous “Yes” followed by some brief remarks “positively praising” the company. Sansiri interestingly boasts being a “fully integrated developer” and it runs an efficient Property Agency and Facilities Management Subsidiary known as “Plus Property”.
The developer covers numerous price brackets, from the lower-end (60,000- 120,000 THB Per/Sqm) with projects such as “The Base” to more luxury high-end projects (160,000+ THB Per/Sqm) such as Quattro Thong Lo and XXIX by Sansiri.
According to its marketing material the company prides itself in developing “Urban Living Solutions”. The USP of its developments are their close proximity to mass-transit lines (BTS and MRT) and its target market tends to be “buyers who value convenience and ease-of-access”. This has led its developments to have attracted a particularly strong market of young working professionals who value ease of commute (To work and places of leisure) above all other factors. Ananda like Sansiri has also set up its own Property Agency (The Agent by Ananda) and Facilities Management outfits (The Works).
Ananda develops projects under the iconic names “Ideo” with popular projects such as Ideo Morph 38 and Ideo Mobi Sukhumvit. In an attempt to diversify Ananda has also developed its luxury “Ashton” branded developments. Interestingly Ashton Asoke was launched September 2014 and was sold-out pre-launch within a month!
Has wide-ranging operations and it is the developer of Condominium, Town House and Single-Detached House Projects. AP Thailand has segmented its Projects with different locations and price-ranges to appeal to different markets notably:
-“Life” and “Aspire” offering lower priced and affordable condos (I.e. Life @ Sukhumvit)
-“Rhythm” offering a more mid-market styled project (I.e. Rhythm Sukhumvit, Rhythm 44/1)
-“The Address” is AP’s upmarket luxury condo brand (I.e. The Address Asoke)
Noble is the final developer of this Article. It is a solid company that has developed a total of 40+ residential Condo projects. These include developments such as Noble Refine in Phrom Phong, Noble Remix in Thong Lo and Noble Reform in Ari. A landmark project that was recently completed is Noble Ploenchit which is positioned right next to the BTS and is built on the few remaining freehold plots of land in Ploen Chit an upmarket Bangkok address!
On a final note, this article is only a very brief glimpse into Bangkok Condo Developers and it would be impossible to review every company in a single Article. It is important to note that as a Buyer due diligence is very important as unfortunately “buying from a well-known Developer” cannot be the only criteria for selection.
Exceptions always exist and the Developers reviewed above also have developed projects that offer less-attractive and even terrible investment options. Also there are numerous independent developers that have produce Condos that are extremely popular and fantastic investments!