With Bangkok already being so congested, why crowd into it even more? A long-standing issue for Bangkok is its status as a single central city, where various activities are packed into one central area. This has led to residential areas being pushed further out, resulting in increased distances between workplaces and residences (Work-Life Separation). Consequently, Bangkok has been transformed from a Monocentric Development into a Polycentric City.

Located just about 22 kilometers from Bangkok's CBD, Chaengwattana has been designated by the government as a “Central Government Agency Hub” for the Bangkok Metropolitan Region. Not only is it a central hub for government agencies, but Chaengwattana is also experiencing continuous growth and diversity in its neighborhoods.

Transportation Accessibility

            The Chaengwattana area is bisected by Chaengwattana Road, which serves as the main thoroughfare and provides easy access to expressways, connecting to the Si Rat Expressway and the elevated Utharaphimuk Road. Whether heading into Bangkok or traveling to other provinces, commuting by car is very convenient.

            In the future, the Pink Line electric train will run along the entire length of Chaengwattana Road, making it easy for the area to access the electric train. The Pink Line will connect with five other lines, including the Purple Line at the Government Complex Nonthaburi station, the Red Line at the Lak Si station, the Green Line extension at the Wat Phra Si Mahathat station, the Gray Line at the Watcharapol station, and the Orange Line at the Min Buri station. Currently, the Purple Line is operational, while four other lines, including the Pink, Red, Green, and Orange lines, are under construction, with the Pink Line expected to be completed and operational by 2020.

‘Chaengwattana’ and the Diversity of Its Neighborhoods

            The Chaengwattana area began to gain attention with the opening of the Impact Arena Muang Thong Thani in 1999, which was the largest convention and exhibition center at the time. In addition to the convention center, the surrounding area of Impact Arena began to develop residential properties, leading to the emergence of a “New Town”.

            Later, in 2013, after a long construction period, the “Government Complex Commemorating the 80th Birthday of His Majesty the King” was inaugurated, more commonly known as the Chaengwattana Government Complex (Government Complex). This complex houses 29 government agencies with a project value of 19 billion baht and a total area of 536,000 square meters, including 460,000 square meters of office space, 49,000 square meters of common areas, and 27,500 square meters for business, accommodation, and recreation, employing approximately 25,540 personnel (from the 29 government agencies), significantly attracting people to the Chaengwattana area.

            Additionally, there is the Software Park, which is a hub for modern business offices in technology, communication, and multimedia, including companies like Samart Corporation Public Company Limited, as well as the Jasmine International Tower, which houses the offices of the 3BB group and television stations such as MONO and Bright TV. This influx of quality personnel has contributed to the development of another area known as the “Digital District”.

 

‘Chaengwattana’ – A Location Accessible from All Neighborhoods

            With the emergence of new neighborhoods that are distinct and unique in the Chaengwattana area, including the New Town (Impact Arena), the Government Center (Chaengwattana Government Complex), and the Digital District (Software Park), all neighborhoods can be accessed within a 2-kilometer radius. In addition to job sources, it is also conveniently located near Don Mueang Airport, which is within 5 kilometers, making Chaengwattana a sub-central city (Polycentric) of Bangkok that harmoniously utilizes land and mixed-use neighborhood characteristics, creating diverse job opportunities and the emergence of quality residential areas.

Moreover, there are reports that in the future, the Chaengwattana area will have a Dusit D2 Chaengwattana Hotel by Dusit International, which will be a 23-story hotel with 200 rooms, including a rooftop restaurant, bar, swimming pool, gym, and large banquet hall. This will be the first D2 brand hotel to open in Bangkok, enhancing the business potential of the Chaengwattana area.

The Most Highly Valued Road in Pak Kret District

Given the highlights of the Chaengwattana area outlined above, land prices have been steadily increasing. TerraBKK Research compared the estimated land prices from the Treasury Department along major roads with 6-8 lanes in Pak Kret and found that Chaengwattana Road has the highest estimated land price in Pak Kret, due to the area's diverse development potential compared to other roads in Nonthaburi, making “Chaengwattana” the star of the Nonthaburi area for a long time.

According to the Treasury Department's estimated land prices, Chaengwattana Road is the only road in Pak Kret where the price exceeds 100,000 baht per square wah, making it stand out compared to other roads. Thus, it is not surprising that “Chaengwattana” is one of the first locations to transform Nonthaburi from a low-rise market into a condominium market.

“Chaengwattana” – A Location Where New Condominium Prices Increase by 7-10% Annually

When discussing the condominium market, TerraBKK Research reviewed the growth of condominium prices each year, noting how much developers increase prices with each new project launch. The first projects in the Chaengwattana area were launched about 9-10 years ago at a price of only 45,000 baht per square meter. Currently, new projects in the Chaengwattana area are priced at nearly 60,000 baht per square meter. The latest project we have seen is NUE Noble Chaengwattana, launched at 1.65 million baht (59,000 baht per square meter), indicating that the potential of Chaengwattana can drive new project prices up by 7-10% per year.

The Diversity of the Chaengwattana Area Amidst Job and Shopping Sources

            When TerraBKK Research analyzed the data for the Chaengwattana area, it found that although it is the same Chaengwattana Road, there are still differences. The road is divided by the Si Rat Expressway, creating two sides: the Pak Kret-Si Rat Expressway side and the Muang Thong-Lak Si side, which differ in both environment and prices of second-hand condominiums.

            Pak Kret-Si Rat Expressway: This zone includes shopping centers along Chaengwattana Road, such as Central Chaengwattana, Big C, and HomePro. Most of the area has been developed into commercial spaces and car showrooms. The condominium market in this area is quite active, with new condominium projects emerging almost every year, and the prices of condominiums are still relatively affordable, with second-hand condominiums priced between 60,000-75,000 baht per square meter.

            Muang Thong-Lak Si: This zone is the job hub of Chaengwattana, housing the Chaengwattana Government Complex, Muang Thong Thani, the Ministry of Foreign Affairs' Consular Department, TOT Public Company Limited, and several large residential communities. This area has little space left for condominium development, so new projects are rare. Prices here tend to be higher than in the Pak Kret-Si Rat Expressway zone due to the high demand from the job market, with second-hand condominiums priced between 65,000-90,000 baht per square meter.

           

Comparing the two zones, it is evident that the Muang Thong-Lak Si side is more developed than the Pak Kret-Si Rat Expressway side, which is filled with shopping malls and job sources. Therefore, it is not surprising that the Muang Thong-Lak Si zone has higher and rarer condominium prices, as it offers easy access to various amenities.

            For those looking for a condominium in the Muang Thong-Lak Si zone, it is advisable to act quickly, as there are only two projects available: The Prop Chaengwattana, starting at 1.39 million baht or about 53,000 baht per square meter, located approximately 900 meters from the electric train, and the latest project NUE Noble Chaengwattana.

 

This project is just 20 steps from the Si Rat station and 700 meters from the Chaengwattana expressway, making it very convenient for commuting. The NUE Noble Chaengwattana is a fully furnished condominium ready for immediate occupancy, with room sizes ranging from 28-57 square meters and extensive common areas totaling 1,600 square meters on a project area of over 3 rai. The first showing of the sample rooms will be on March 9, with prices starting at 1.65 million baht or about 59,000 baht per square meter - TERRABKK