The recent 20th anniversary of the Tom Yum Kung crisis has reignited concerns for many, as the events from that time still leave a lingering uncertainty about real estate investments today. This has led to several threads on Pantip questioning:

“The economy is bad, but why are condos popping up everywhere and filling up quickly?”

“Is the economy good or bad? Why are there so many new condos being built?”

For those who missed the recent TREA TALKS, the team from TerraBKK has gathered some insights from the session featuring the former Minister of Transport, who is now the CEO of Q House, Mr. Chatchart Sittipunt. He took on the role of a fortune teller, predicting the future direction of Thai real estate and which locations will be favorable.

LOCATION, LOCATION, LOCATION

It is said that for real estate, location is as vital as the heart that pumps value. Since real estate cannot be moved to another location once it has been established, holding land in a good location gives one a significant advantage. The hottest locations in Bangkok remain Silom, Sathorn, Asoke, and Rama 9, which are all central business districts (CBDs). Mr. Chatchart highlighted the new CBD of Bangkok, Rama 9, which is set to have a Super Tower that will enhance the area's potential in the future. It is conveniently accessible via the subway, Airport Rail Link, expressways, and several major roads, all of which are key factors in creating a good location.

TRANSPORTATION, TRANSPORTATION, TRANSPORTATION

Transportation is the true backbone that creates good locations. Understanding transportation is crucial for a clear vision of real estate. The significant impact on public transport in Bangkok right now is the development of rail transport or the skytrain, which is becoming more tangible.

As of 2017, there are five skytrain lines in Bangkok with a total of 79 stations.

In 2018, the green line will extend to Samut Prakan station.

In 2019, the gold line operated by the private sector will be introduced.

2020 will be a significant year for Bangkok with the addition of the dark red and light red lines, expanding travel to Rangsit-Bang Sue and Bang Sue-Taling Chan, along with the completion of the blue line loop, and the pink line enhancing travel in northern Bangkok from Chaeng Watthana to Min Buri, and the yellow line from Lat Phrao to Samrong.

In 2021, extensions of the light red, blue, light green, and dark green lines will be added.

In 2022, the Airport Rail Link will connect Don Mueang and Suvarnabhumi airports.

2023 will mark another significant turning point for Bangkok with the introduction of the orange line, which will be a game changer connecting the Cultural Center to Min Buri, and in the future, Mr. Chatchart believes it will connect to the EEC. Additionally, the purple line extension from Tao Poon to Thung Khru will enhance the potential of the Thonburi side.

In 2025, the orange line extension from Taling Chan to the Cultural Center will run through important areas of Bangkok, connecting the west and east.

In 2027, the red line from Hua Lamphong to Mahachai will be introduced.

With the variety of routes and stations, the question arises: which skytrain line should one invest in or reside near for the best results?

DIRECT TO DESTINATION

The main destinations for daily commuting for most people are just three places: work, home, and school. This concentration of important destinations like workplaces and schools in urban areas is a key reason why Bangkok continues to struggle with traffic congestion.

The image above shows the locations and sizes of educational institutions across Bangkok, clearly indicating how the central area attracts significant traffic and vehicle volume.

Office locations are similarly clustered around the CBD and key urban areas. Even with an increase in office supply in the market, it remains concentrated in the city center.

What do these factors indicate? Finding locations that allow for the most convenient travel via future skytrain services is essential. A good location must facilitate direct travel without the need to transfer lines, enabling direct access to the destination, thus perfectly meeting the criteria for a good location - เทอร์ร่า บีเคเค

For those interested in more content, you can watch the live recording of this session and others at https://www.facebook.com/terrabkk/

Additionally, you can follow the full content from the speakers at Thai Real Estate Association

Article by: TerraBKK Real Estate News

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