Bangkok, July 10, 2018: Nexus indicates that Phahonyothin-Pradiphat is a new condominium market in a classic area, with selling prices lower than nearby locations on Phahonyothin Road, while maintaining the same travel distance and surrounding amenities. This area has potential for continuous development, making it worthwhile both as an investment property and for future investment.

Ms. Nalinnarat Charoensupong, Managing Director of Nexus Property Marketing Co., Ltd., a real estate consultancy, stated that the Pradiphat area is a new location worth watching. The overall Phahonyothin-Pradiphat area retains its classic charm, housing an old community with hotels, and is filled with famous shops and restaurants operating in 3-4 story commercial buildings along Pradiphat Road. The city's growth over the past several years has increased the potential for real estate development in this area. Currently, land prices along the road are being offered at 600,000-800,000 baht per square wah, while nearby areas such as the side streets in Ari and along Phahonyothin Road from Chatuchak to the BTS Saphan Khwai station, and from BTS Saphan Khwai station to the Victory Monument, are offering land at prices ranging from 600,000-800,000 baht, 900,000-1,000,000 baht, and 1,200,000-1,500,000 baht respectively.

The average selling price of condominiums in the Phahonyothin-Pradiphat area is currently 170,000 baht per square meter, which is lower than the average price of condominiums on the main Phahonyothin Road, which range from 218,000 baht per square meter. Both locations have similar surrounding conditions in terms of road size, transportation, and public utilities.

For condominiums in nearby areas, such as the side streets in Ari and along Phahonyothin Road in Chatuchak, the average price per square meter is 154,000 baht and 166,000 baht respectively. Although these areas are not far from Phahonyothin-Pradiphat, the average condominium prices per square meter are lower, which aligns with the physical factors of the side streets in Ari, which mostly consist of small projects with residential buildings not exceeding 8 stories. Additionally, the location of condominiums in Chatuchak has a longer distance to central Bangkok compared to the aforementioned locations.

The Phahonyothin-Pradiphat area can be accessed via multiple routes and modes of transportation, with travel times to the main roads of Phahonyothin and Rama VI taking approximately 5-10 minutes by car or 10-15 minutes on foot. Shortcuts to the Ari area can be accessed through various side streets. The nearest BTS stations, Saphan Khwai and Ari, are similarly accessible from the locations between the BTS stations on Phahonyothin Road. Furthermore, special transportation services to central Bangkok, northern Bangkok, or the outer ring can also be utilized within a 2-kilometer radius.

The surrounding area is well-equipped with public utilities, including over 10 shopping malls and community malls, 2 large educational institutions, 6 hospitals, 7 government offices, and numerous office buildings of various sizes, not to mention the many restaurants, cafes, and convenience stores scattered throughout. When compared to nearby locations, the surrounding environment is almost identical.

Continuous Development Plans

For nearly 20 years, since the opening of the BTS Green Line, which is the first electric train line in Thailand connecting the northern Bangkok area (Chatuchak) to inner Bangkok and the eastern side (Bearing), the urban planning has adapted to the city's growth. Most of the area is brownfield with some red zones, which gives this zone a relatively high potential for development compared to the land size. It can be developed for both horizontal and vertical housing, as well as for commercial purposes, hotels, and offices.

Currently, there are projects under construction expected to be operational in 2020, including transportation projects like the Red Line electric train along Kamphaeng Phet 5 Road, with the nearest station being Pradiphat, which will make commuting much more convenient. Additionally, there are two mixed-use projects: "De'Rize by Srisupachai," which combines retail, shopping mall, and a 4-star hotel, and "Wimutti Hospital" by Pruksa Holding Public Company Limited, which is a hospital and health center on a total area of over 7 rai. There are also other large projects under development, expected to open within 5-15 years, including "The Unicorn," a mixed-use project by BTS Group Holdings Public Company Limited, aimed at creating a sports center combined with retail shops and office spaces, and "Bangkok Terminal," which is being developed into a mixed-use area with office spaces, hotels, serviced apartments, parking, and part of it being a transportation station. Lastly, the development of Bang Sue Central Station on over 218 rai is in line with the new mass transit station network development concept of Bangkok, which will serve as a hub for ASEAN-level rail transportation.

Thank you for the information from http://nexus.co.th