Proving the Potential of Chula - Samyan - Ratchathewi: A Prime Location This Year


The potential of the location is evident in its abundance.

          The area of Chula - Samyan - Ratchathewi is adjacent to the CBD and has seen the introduction of the Green Line Skytrain (1999), the first skytrain line in Bangkok. This area is also continuously evolving, with the official opening of the Green Line followed by the Blue Line Subway (2004) at Samyan Station and the Airport Rail Link (2012). In the future, the Orange Line will also become another important route connecting the west and east of Bangkok, further enhancing the location.

          Besides the major transport routes like the skytrain, the area of Chula - Samyan - Ratchathewi is also connected to important roads linking the CBD - Inner Area through several routes, especially Phayathai Road, which connects from Samyan to Victory Monument. Other significant roads include Rama 4, Phetchaburi, Si Ayutthaya, Ratchawithi, Phahonyothin, and Din Daeng, all of which are crucial for transportation in Bangkok.

Chula - Samyan - Ratchathewi: Past and Present

          Since 2005, CentralWorld underwent a major renovation, as did Siam Center in 2012, and the emergence of Siam Square One in 2014 revitalized the Chula - Samyan - Ratchathewi area after a period of dormancy.

Project Timeline - Chula Samyan Ratchathewi: Past

          Currently, Chula - Samyan - Ratchathewi has become a central hub of Bangkok in terms of shopping centers, transportation, and lifestyle. This area is home to major shopping centers like Siam Center, Siam Square, Siam Discovery, Siam One, MBK Center, and CentralWorld, while the upper part of the area is clustered with hospitals, and the lower part features Chulalongkorn University and Triam Udom Suksa School, creating diverse demand in the Chula - Samyan - Ratchathewi area.

          In 2019, Chula - Samyan - Ratchathewi continues to show ongoing developments, with a variety of new projects including office buildings, mixed-use developments, and large green spaces.

  • BTS Phayathai Complex - A plot of land adjacent to Phayathai BTS Station is set to become a 51-story mixed-use building that includes an Eastin Grand hotel, condominiums, and rental offices, covering approximately 14,500 square meters.

  • Spring Tower - Located at the corner of Phetchaburi-Phayathai intersection, Spring Tower is an A-grade office building developed in collaboration with AIRA, Sena, and Sangfa.

  • Chulalongkorn University 100-Year Park- A large green space of over 29 rai, a new lung for the city, located on 100-Year Chula Road (Chulalongkorn Soi 5), connecting Rama 1 Road and Rama 4 Road, serving as a public area for city dwellers and a water retention area.

  • Samyan Mitrtown- Another mega mixed-use project on Rama 4 Road at the corner of Phayathai - Rama 4, with a total usable area of over 222,000 square meters, including retail zones, activity zones, office buildings, and residential areas, set to open by the end of 2019.

          This gives a clear picture of why Chula - Samyan - Ratchathewi has become one of the most interesting locations in 2019. Not only is it a commercial district attracting diverse demand, including medical personnel (Medical Hub) and educational professionals (Education), but it also attracts office workers with the emergence of new office buildings and mixed-use projects.

Chula - Samyan - Ratchathewi: A Location with Diverse Demand


            The size of the demand groups may not be entirely clear yet, so TerraBKK will delve into each interesting demand group that represents the true population of this area.

Office Workers (Office)

          Previously, the clustering of office buildings was concentrated around Phayathai, but with the emergence of BTS Phayathai Complex, Spring Tower and Samyan Mitrtown, the total area of office buildings is approximately 270,500 square meters, leading to an estimated demand of around 12,450 office workers commuting in this area (occupancy rate 60%)

Hospital Personnel (Medical)

          Another quality population group is the demand from personnel from several hospitals, clustered from the upper part of Ratchathewi, including Chulalongkorn Hospital, the Thai Red Cross Society, and Police Hospital. It is estimated that there are at least 800 medical personnel according to ministry regulations, along with over 4,000 personnel and students from six medical institutions.

Educational Personnel (Education)

          The primary source of this large demand group is Chulalongkorn University, which offers education across 38 faculties/institutes, with a total student population of 36,161 and over 3,000 academic staff.


Condominium Market Situation in the Chula - Samyan - Ratchathewi Area

          Looking back at the condominium market situation over the past seven years in this area, it is found that the launch of new projects has not been frequent, averaging only 1-2 projects per year. Most developments are by public companies, although some projects are also from private firms.

          The launch of new condominiums in areas near Chula - Samyan, such as on Rama 4 Road, has seen an average presale price growth of around 12% per year, from an average launch price of mid-hundred thousand baht per square meter in 2013 to around two hundred thousand baht per square meter currently. Meanwhile, the Ratchathewi area has seen a gradual change in presale prices, averaging 10% per year, from an average presale price of low-hundred thousand baht per square meter to around two hundred thousand baht.

          Recently, it has been reported that this area will see two new condominium projects from Origin Property under the name Park Origin in the Ratchathewi and Rama 4 locations, which are expected to excite investors. More information and launch prices will be revealed soon.

Condominium Market in Chula - Samyan - Ratchathewi

          For the second-hand condominium market, the return figures for holding and leasing are interesting as follows:

          The holding of condominiums in areas near Chula - Samyan, such as on Rama 4 Road, generates an average Cap Gain return of 3.5%-6.5% per year, with second-hand units averaging 174,000-240,000 baht per square meter. Meanwhile, the average rental rate is around 650-900 baht per square meter per month, for example, a one-bedroom unit averaging 30-45 square meters typically rents for 22,000-31,500 baht per month, resulting in an average Rental Yield of 4%-5% per year.

          In terms of investment in condominiums for rental in the Ratchathewi area, the average Rental Yield is around 3.5%-5.5% per year, with average rental rates of 500-750 baht per square meter per month. The average selling price in the market is around 155,000-221,000 baht per square meter, resulting in an average holding return of 4.2%-8% per year.

          The launch of new condominium projects by Origin Property under the brand Park Origin in the Ratchathewi and Rama 4 locations, named Park Origin Chula-Samyan and Park Origin Ratchathewi, is expected to excite investors. Additionally, various other condominiums are gradually being launched in this area, such as Chapter Chula - Samyan, The Tree Sukhumvit-Rama 4 and The Tree Victory Monument Chapter from Pruksa Group, as well as The Address Siam-Ratchathewi from AP Thailand.

          All of this highlights the uniqueness of this area, whether in terms of education and medical services, making it a location with quality demand. The future influx of real estate types such as office spaces in the Phayathai-Samyan area and mixed-use developments on Rama 4 Road will undoubtedly bring new demand. With a location that is one of the most complete in Bangkok, featuring shopping centers, job opportunities, educational institutions, healthcare facilities, and transport systems like the Green Line, Blue Line, and the future Orange Line, all of this reflects the potential of Chula - Samyan - Ratchathewi as a standout location this year.