When it comes to business districts in Bangkok, many people might first think of "Silom-Sathorn" or the Ratchada area, which has become the new CBD. However, there is another area that TerraBKK Research recognizes as a smaller business district. Although it may not be as bustling as Silom-Sathorn, it has a significant number of offices and employees. This area is the “Phahonyothin”, stretching from Mo Chit to Anusawari. Historically, this location was home to wealthy elites and some military land, which has helped maintain its green spaces in the city center. Overall, this area features a large number of offices, as well as dining options in Ari Alley. For anyone considering investing in this area, it is indeed quite interesting.

However, the landscape of this area began to change when developers started introducing high-end condos. This began with Pruksa Real Estate launching two projects in this area: The Editor in Saphan Khwai and The Signature by Urbano, both of which achieved impressive sales. Additionally, Sansiri launched a new condominium brand called 'The Monument' in the high-end segment, with starting prices reaching 10 million baht. This has transformed the image of Phahonyothin into a high-end business and residential area. Over the past 1-2 years, major developers have lined up to launch projects in this area, with prices not less than 120,000 baht per square meter. Projects like IDEO Phaholyothin-Chatuchak, The Line Phahol-Pradipat, and Maestro 07 Victory Monument have all generated significant buzz upon their launches. The latest project, Ideo Q Victory, also sold out online within minutes.

It’s no surprise that this area has become a favorite among investors, especially for those looking to rent to workers or even doctors and nurses in the vicinity. TerraBKK Research has compiled rental listings to analyze which areas yield high rental prices, and which stations command higher rents. The map below illustrates the “rental price per square meter,” with red indicating areas that achieve rental prices as high as 500-700 baht per square meter, while yellow indicates areas with rents around 300-400 baht per square meter.

It can be seen that condos with high rental prices of 500-700 baht per square meter are primarily clustered around the BTS stations. As you move further into the alleys, the prices gradually decrease. The station with the highest rental price is “Ari Station,” with rents around 450-600 baht/sqm. Following closely is “Saphan Khwai Station,” with rents around 420-560 baht/sqm, and “Anusawari Station,” with rents around 420-480 baht/sqm.