"Thonglor-Ekkamai" The Star Location of Sukhumvit

"Sukhumvit Road" is one of the major roads in Bangkok, filled with a diverse range of residents and land developments. Driving along Sukhumvit, you will encounter shops with various languages, unique shopping centers, high-end condominiums lined along the road, office buildings accommodating both large and small companies, and hotels ranging from boutique to five-star. All of this is found along Sukhumvit.

            However, when it comes to the "star location" in Sukhumvit, it is impossible to overlook "Thonglor-Ekkamai". This area never sleeps and stands out from other Sukhumvit sois, which are wider and busier. According to the latest statistics from terrabkk.com, "Thonglor-Ekkamai" is the location with the highest demand for rental condominiums! Let's take a look at what makes "Thonglor-Ekkamai" so special.

Convenient Connectivity

When we talk about "Thonglor-Ekkamai", they are often mentioned together. Not only are the sois close to each other, but they also connect conveniently. You can easily navigate between them, as both sois, while close, offer different environments and residents. If anyone wants a change of scenery, they can easily travel between the two. Let's explore where the prominent shopping and dining spots in Thonglor-Ekkamai are and how to access them.

NEW Thonglor-Ekkamai!! What’s New?

Despite being a star location, it has been noticeable that in the past 1-2 years, "Thonglor-Ekkamai" has seen a slowdown in new developments. However, in the next 2-3 years, we will start to see more changes in "Thonglor-Ekkamai". TerraBKK Research predicts that after this, Thonglor-Ekkamai will undergo a transformation, attracting a younger demographic. Let's see what the new face of "Thonglor-Ekkamai" will bring.

T-ONE: A Grade A Office for the New Generation in Thonglor

The project owner is none other than Khun Tan Paskornnatee, the green tea mogul from Ichitan. The T-ONE project is a 34-story office building with over 22,500 square meters of rental space located on Sukhumvit Road (at the mouth of Sukhumvit Soi 40). Khun Tan stated that this office is designed specifically for new-generation entrepreneurs, with the T-ONE space designed as a Creative Space to stimulate new ideas continuously, marking a new concept that has never been seen in Thonglor offices before.

Why be excited about T-ONE? Because in Thonglor-Ekkamai, we rarely see new office openings. The image we often think of is more about restaurants and chill-out spots. The arrival of T-ONE this year is something new for Thonglor, especially with a concept that aligns with the area’s characteristics: workspace for the energetic new generation, suitable for the Work Hard, Play Harder lifestyle. We see T-ONE becoming a new landmark for Thonglor-Ekkamai, making this area even more “complete”.

EKKAMAI MALL: A Japanese-themed Shopping Center in the Heart of Ekkamai

            A new shopping center has been established at Ekkamai Soi 5, owned by TOA-PPIH Co., Ltd., which has hired a famous Japanese discount store chain to manage it. The main tenant is expected to be "Don Quijote", a Japanese discount store that offers a wide range of affordable products, from toothpicks to battleships, and importantly, tax-free items that allow shoppers to enjoy prices as if they were in Japan. Additionally, Ekkamai Mall will feature an amusement park based on famous cartoons, sports entertainment, and many renowned restaurants.

            Why be excited about Ekkamai Mall? It should be noted that Thonglor-Ekkamai is the only location in Sukhumvit with the highest number of shopping venues on Sukhumvit Road. Counting them, there are about 6-7 locations, and with Ekkamai Mall, it becomes the 8th, surpassing any other soi in the area. Each of these places has unique characteristics, especially for Japanese people, confirming the significant Japanese presence here. The arrival of Don Quijote not only excites shoppers but also adds vibrancy to the Thonglor-Ekkamai area.

Image source: http://www.charcoaldesign.co.th

Transforming Thonglor-Ekkamai into a Walkable District with the UddC Project

Thonglor-Ekkamai has been selected as one of the pilot areas for development and revitalization, in collaboration with the Urban Design and Development Center (UddC) and Bangkok Metropolitan Administration. The project will improve the network of roads and alleys for better connectivity, increase green spaces, and enhance the canals for better aesthetics under the Good Street and Street Diet concepts, which will allocate space for vehicles and pedestrians to coexist harmoniously. In the future, we will see Thonglor-Ekkamai as a creative business district leading urban trends, becoming a densely populated residential area and an international job hub, as well as a walkable district in Bangkok.

The Growth of Condominium Prices in "Thonglor-Ekkamai"

            Besides its location advantages, "Thonglor-Ekkamai" is known for its high-end condominiums, indicating that residents are typically affluent individuals. The growth rate of condominium prices in this area is also notable. The prices, which are already high, continue to rise. Data on second-hand condominiums for sale in the market shows that condominium prices in Thonglor-Ekkamai have been increasing by approximately 4-8% per year (Cap Gain per Year).

When comparing Thonglor (Sukhumvit 55) and Ekkamai (Sukhumvit 63), it is clear that Thonglor has reached prices of 160,000-200,000 baht per square meter. Many feel that Thonglor's prices are too high. Let's look at the neighboring area of Ekkamai, which is 15-20% cheaper than Thonglor, with second-hand prices currently at 130,000-150,000 baht per square meter. Therefore, it is not surprising that Ekkamai is becoming an alternative for those who want to live in the "Thonglor-Ekkamai" area at a more affordable price.

Another interesting aspect of this area that the TerraBKK Research team found is the number of people looking for rental condominiums priced between 20,000-50,000 baht per month (data from visitors to www.terrabkk.com). The top location with the highest demand is from Phrom Phong to Thonglor to Ekkamai, indicating a strong investment potential in this area, which clearly has a high Demand, along with attractive Rental Yield and Cap Gain.

If you look closely, what does the heat map above tell us? ... Not only is the area from Phrom Phong to Thonglor to Ekkamai the most sought-after for rental condominiums, but if you observe closely, the entire Sukhumvit Road, from Asoke to On Nut, is a road where people look for rental condominiums more than in other zones. This is another reason we say that Sukhumvit is a major road in Bangkok, as everyone wants to live in this area, which is easy to travel and convenient for dining. For those considering investment, condominiums on Sukhumvit are often the top choice. The number of people looking for rental condominiums on www.terrabkk.com confirms that investing in condominiums in this zone will be filled with people looking for rentals in the 20,000-50,000 baht range, which typically includes studio and one-bedroom units, the most popular choices for rental investment.

In 2018, Thonglor-Ekkamai is Especially Vibrant

            To conclude, what interesting projects will emerge in 2018? This year is a golden year for Thonglor-Ekkamai, as we rarely see new condominiums opening frequently. However, this year, numerous projects are launching, with over 8 projects from both small and large developers, some already on sale, some not yet opened, and some just fenced off. Today, TerraBKK Research has compiled all 8 projects as follows:

Most of these projects are clustered around the central area, which is considered the most popular zone of Thonglor-Ekkamai. However, currently, only a few projects have revealed their prices, and the project with the most interesting price appears to be PITI EKKAMAI (Piti-Ekkamai), the latest project from Sena Development in collaboration with Hankyu, a major real estate company from Japan, showcasing the largest and most comprehensive common area in Ekkamai, with prices starting at just 4.45 million baht, while other projects start at around 6 million baht. This is a very attractive price for this zone. We will have to wait for more details on both the PITI EKKAMAI project and other projects in this area to see what interesting features they will offer. However, it is clear that the golden location of this year must be awarded to "Thonglor-Ekkamai" indeed - TERRABKK.