Recently the spotlight, has been firmly on the “peripheral markets”; neighborhoods outside Bangkok’s Central Business District (CBD), promising outsized and lucrative returns to savvy investors. Areas such as Bangsue, Bangna, and the Riverside have dominated the media’s attention.
While the appeal and potential of these peripherals are undoubtable, investors would be gravely mistaken to believe that Bangkok’s CBD no longer has growth potential. Micro-trends are redefining the city, with certain sections of Bangkok’s traditional business districts showing potential to boom even further.
This is the case, for the “Asoke-Phetchaburi Intersection” that is located in the northern fringes of Asoke’s Sukhumvit 21. Despite being geographically located in one of the Capital’s premiere office and commercial hotspot, the Intersection is often perceived as the grittier section of Asoke. These perceptions are understandable, Phetchaburi Road is a busy road way and the area has yet to develop community hubs (I.e. Shopping Malls, Leisure and Retail Venues, Etc.).
However this underdog image, is about to dramatically change as the area is on the cusp of major transformation!
Phetchaburi Intersection Highlights
Sandwiched between Asoke (Sukhumvit 21) – Rama 9
The Phetchaburi Intersection is strategically located halfway between Asoke’s office hub and Rama 9 which is often referred to Bangkok’s New CBD. This places the area in prime position to benefit from development and residential spillover from both areas.
Rama 9- Ratchada Located Only One MRT Station Away
Already a popular residential area, the continued development of Asoke/Rama 9 will inevitably cement Phetchaburi Intersection as a commuter hub and residential hotspot.
It is important to note, that the neighborhood is ultra-convenient connected by MRT Phetchaburi, Makkasan Airport Rail Link and offering easy access to the expressways.
Mega Mixed-Use Projects
The strategic geographic location of the area, has not gone unnoticed by Bangkok’s established developers. The neighborhood is currently a hotbed of development activity notably:
– The Singha Complex
Photo Courtesy of Singha Estate
The most ambitious project being Singha Estate’s Singha Complex. This ambitious mixed-use development will comprise of a fully-integrated residential and commercial complex. The Project will offer a combination of Office, Retail and Residential elements.
– Makkasan Complex
While exact plans are still unconfirmed, the Capital’s property professionals are touting that the State Railway of Thailand (SRT) is laying out plans to start developing the 3000-Rai plot of land neighboring Makkasan Airport Rail Link. This enormous projects could comprise of a sprawling complex with office, retail, leisure and residential sections.
Existing and Off-Plan Residential Condos
The area currently offers a selection of second-hand condos from established developers such as Q House, AP (Thai) and Suapalai.
On top of this the area will soon welcome extra developments with major residential projects such as The Esse by Singha Estate (Part of the Singha Complex), Life Asoke by AP (Thai), Ideo Mobi Asoke by Ananda and Lumpini Suite Makkasan by LPN.
Condo Market Overview
As initially mentioned, the Phetchaburi Intersection is already a popular residential hotspot especially amongst the local/expat office workers of Asoke and Rama 9- Ratchada.
Therefore condos in the neighborhood benefit from solid occupancy rates and buy-to-let investor can benefit from rental yields ranging from 4.5-6%.
Interestingly, condos are sold at relatively affordable resale prices on a price per square meter (PSM) basis. Despite being in the prime-CBD it is still possible to find good quality and modern projects under 150,000 THB/ PSM.
1. The Address Asoke
Condo for Sales and Rent: The Address Asoke
2. Circle Condominium
Condo for Sales and Rent: Circle Condominium
3. Q Asoke
Condo for Sales and Rent: Q Asoke
4. Supalai Premier @ Asoke
Condo for Sales and Rent: Supalai Premier @ Asoke
5. Villa Asoke
Condo for Sales and Rent: Villa Asoke
