PARK 24: Breathe in the ozone in the only MID Sukhumvit condo surrounded by parks, the ultimate condo that is more than just a 'city center location'.

        The Mid Sukhumvit area, particularly from BTS Asoke to Thonglor, has become a valuable treasure for developers and real estate investors. One interesting project is PARK 24 by Origin Property, located behind Emporium and close to a large park, right in the heart of Sukhumvit, making it a highly sought-after location for investors. This raises the question: why is the central Sukhumvit area so attractive?

        The Elements of Completeness in Central Sukhumvit

        The advantages of urban planning potential make the central Sukhumvit area, from Asoke Intersection to Sukhumvit Soi 40, have very high land use regulations. This includes high-density residential areas (Brown Zones Y.9 and Y.10), commercial areas (Red Zone P.3), and government institutions (S.-55), allowing for various development projects due to favorable regulations that enable almost full utilization of the existing land. The high-density residential areas have a FAR of 7:1 and 8:1, while the commercial areas have a FAR of 7:1, indicating that almost the entire area, excluding government institutions, can be maximally developed.

        Exploring the Central Sukhumvit Area: Asoke - Thonglor

        TerraBKK has explored the central Sukhumvit area on the even-numbered side, where the PARK 24 project is located, from Asoke Intersection to Sukhumvit Soi 40. We found that each soi is quite lively, with at least a nice restaurant or café, or a hostel in every soi. We categorized the buildings in the central Sukhumvit area into five types: general residential buildings, condominiums, hotels and hostels, retail and commercial buildings, and office buildings.

        The clustering of building types starts from Rama 3 and Rama 4 roads, where office buildings are densely grouped. The hotel and hostel cluster is concentrated in Sukhumvit Soi 16 to 22, mostly featuring five-star hotels.

        Meanwhile, the commercial buildings, including shops, restaurants, cafés, community malls, department stores, and shopping centers along Rama 4 road are more prominent than those on Sukhumvit road, featuring general shops, Big C Extra, and Tesco Lotus, which cater to the mid-range market. In contrast, the Sukhumvit side boasts The Em District, the most distinctive lifestyle hub.

        For the clustering of condominiums on the even-numbered Sukhumvit side, in Sukhumvit Soi 24, where the PARK 24 project is located, the clustering of condos is very clear. This is partly due to the potential of Sukhumvit Soi 24, which allows direct access by car to both Sukhumvit and Rama 4, and is close to shopping centers like The Em District. Importantly, it is conveniently within walking distance to the BTS Phrom Phong station.

        Access to 'Job Opportunities' and 'Amenities'

        From the categorization of buildings in the central Sukhumvit area, it is found that almost all areas within the central Sukhumvit boundary are within a 300-meter radius, especially in Sukhumvit Soi 22 to 26, which has a dense cluster of commercial establishments, making this stretch quite prominent in terms of access to amenities.

            Regarding access to job opportunities, as mentioned earlier, the clustering of office buildings is most evident around Rama 3 and Rama 4 roads or in the Khlong Toei area, making the 300-meter radius for job access not as comprehensive as that for amenities.

         Phrom Phong: A Luxury Lifestyle in Central Sukhumvit
        “Phrom Phong” is truly the center of Mid Sukhumvit, as it has seen continuous high-value investments in recent times, such as 4-5 star hotels, The Emporium, a luxury shopping center by The Mall Group, and further emphasizing the potential of the Phrom Phong area with plans to build The Em District, a capital of luxury shopping on over 50 rai, with a usable area of over 650,000 square meters around the BTS Phrom Phong station. The Em District consists of The Emporium and The Em Quartier, which are luxury lifestyle shopping centers featuring super brand stores and a collection of renowned Thai designer fashion shops. Recently, The Emsphere is set to begin construction in mid-year, 100%.

        For health enthusiasts wanting to exercise and breathe in fresh air, Benjasiri Park, another large public park in the heart of Sukhumvit, is easily accessible, even if traffic is heavy, as there are shortcuts to Rama 4 through Sukhumvit Soi 24, near neighborhood malls like K Village and Suan Plearn.

        “Phrom Phong”: A Golden Location for Real Estate Investors 

        With all these factors, the super prime location of Phrom Phong has a residential density of over 80-90%, making it one of the densest residential areas in Bangkok and the largest rental market in the city. The demand for condos in this area is high, both from those wanting to live there and those looking to invest for rental purposes, with rental yields around 5-7% per year.

        In this rental market, most tenants are Japanese expats, with over 100,000 households or 250,000 people. The appeal of the Phrom Phong area to investors comes from the standard of most tenants, who are Japanese, known for paying rent on time, offering high rental rates, and taking good care of their apartments, leading to continuous demand for condos in this area.

        According to Origin, in the past 5-6 years in the central Sukhumvit area, between Soi 23-55 (within 1.5 km from BTS Phrom Phong station), about 24 condo projects have been launched, totaling over 5,900 units, of which more than 60% or 3,500 units have already been sold, amounting to over 50 billion baht.

        The rental rates for condos in Sukhumvit Soi 24 start at 35,000 to 120,000 baht (averaging 750-1,000 baht/sq.m.), with most rentals being 1-bedroom units averaging 25,000 baht per month and 2-bedroom units averaging 50,000 baht per month. In Sukhumvit Soi 39, rental rates start at 65,000 to 250,000 baht (averaging 630-1,100 baht/sq.m.).

        For sales, condos in Sukhumvit Soi 24 are also attracting investors' attention due to good profit margins. The average selling price in 2013 was 150,000 baht/sq.m., while in 2018, the selling price increased to an average of 250,000 baht/sq.m., or an average selling price of 9.7 million baht for a 1-bedroom unit. This price increase guarantees the future of real estate in this area, which is expected to appreciate significantly.

       Whether for living or investment, the interest is evident from the rising selling prices of both residential projects and office rental rates, which have jumped significantly. Even land prices increased by over 25-30% in 2017 (data from CBRE).

        Investors see the potential for property prices to rise and expect capital gains when reselling, making condos in the Phrom Phong area a popular choice for investors.

        Park 24: A Luxury Condominium Project with a Private OASIS, a Large Park of Over 10 Rai in the Heart of Sukhumvit

        The Park 24 project is a condominium in a large park in the heart of Sukhumvit 24 by Origin Property Public Company Limited, emphasizing design under the concept of “Destination within a Destination”. This design allows you to live in an area surrounded by shopping and lifestyle hubs while enjoying close proximity to nature, blending tranquility, natural beauty, and urban life perfectly for city dwellers.

        The Park 24 project spans 12 rai, divided into 2 phases with a total of 6 buildings, valued at over 20 billion baht. Phase one includes 3 buildings:

  • Building 1: Commercial building, 2 stories
  • Building 2: Residential building, 51 stories
  • Building 3: Residential building, 29 stories
    Total residential units: 832 units

        The room types available include:

  • 1-bedroom starting at 25 sq.m.
  • 2-bedroom starting at 51 sq.m.
  • Duplex starting at 88 sq.m.

        The ceiling height inside the rooms is 2.75 meters, and each floor is limited to only 12 units, ensuring that each floor is not crowded, providing high privacy for residents.

        Interior materials and decoration are Fully Fitted

  • Laminate flooring imported from Germany
  • Kitchen counter set with a hood
  • Bathroom set with sanitary ware, all from German brands

        Facilities in the Park 24 project include:

  • Luxurious Lobby, 7 meters high
  • Roof Garden on Building 3, a playground for shared use
  • CLOUD POOL, a sky pool 40.6 meters long, with a jacuzzi, children's pool, and outdoor deck on the 50th floor of Building 2, the highest and largest pool in a condominium compared to other projects
  • On the 49th floor, there is a sky fitness room, yoga studio, steam room, library, and living room, with a total area of 800 square meters for Phase 1, equipped with the best exercise equipment from world-class brands, comparable to five-star hotels and leading fitness centers, allowing you to enjoy beautiful views of Bangkok while exercising.

        The interior decoration emphasizes natural elements, using laminate wood colors alongside marble walls. The security system for the project includes digital door locks for the units, CCTV throughout the building, and access cards for parking and elevator access, with 24-hour security personnel. There are approximately 426 parking spaces, not including stacked parking, accounting for 51%.

        The facilities within the condominium are comprehensive, while the surrounding area is enveloped in nature, surrounded by shopping centers along Sukhumvit Soi 24.

        It is conveniently accessible from Sukhumvit 24, Sukhumvit 22, and Rama 4, just 500 meters from BTS Phrom Phong station. The views from PARK 24 to the east receive soft morning sunlight and offer a clear, open view. On clear days, you can even see Suvarnabhumi Airport and Khao Khiew. The west side is open with no tall buildings blocking the view, allowing for a beautiful city view, especially at night when the lights from various buildings create a stunning sight, alongside the natural beauty of Benjakitti Park filled with greenery and lakes. The north side offers relaxation with the green space of Benjasiri Park, with no tall buildings obstructing the view of the units, ensuring privacy and a city view, particularly at night when the lights from buildings create a beautiful scene. The north side also avoids direct sunlight throughout the day. The south side not only overlooks the project's garden but also offers views of the Chao Phraya River bend near Bang Kachao, and at night, the beauty of the lights around the pier can be seen. Additionally, the south side enjoys a breeze throughout the day, making it a very pleasant area.

        Park 24: A Worthwhile Investment with Great Returns

        Considering the location and the project itself, it is evident that this area is suitable for purchasing condos for personal use or for investment to rent out to Japanese tenants. The Park 24 project offers rental management services through Primo Management Co., Ltd., which handles tenant selection, building management, and other services such as cleaning services for units and offices, air conditioning cleaning services, and a mobile application service called Butler that allows users to manage tasks via smartphone.

            The Park 24 luxury condominium project harmoniously integrates urban living with nature, catering to all lifestyles, just 500 meters from BTS Phrom Phong and The EM District. It elevates the living experience, allowing you to live like a Sukhumvit resident, just minutes away from one of Bangkok's best luxury shopping destinations, with a large private garden within the project of over 10 rai, allowing residents to breathe in fresh air and escape the hustle and bustle of Sukhumvit.

           Join us for a special experience with the launch of a new luxury collection room designed by the famous actor and businessman, Fluke Kirikorn, and experience the charm of luxurious modern design inspired by 'Apatite' (Blue Apatite), a greenish-blue stone that creates a sense of calm, relaxation, and enhances creative thinking @PARK 24.

           Luxury condos ready to move in on over 10 rai of green space, the last plot in the heart of Sukhumvit, just 500 meters from BTS Phrom Phong and The EM District. #2-bedroom units start at just 12 million baht.

           For those interested, you can register for special privileges at https://bit.ly/2lhGhNq or call 020 300 000

Thank you for the information from www.park24.co.th