The reopening of the country is a significant positive factor for the economy, leading to job creation and investment, boosting confidence among foreign investors and expatriates. This trend supports the growth of the long-term rental property market, particularly the Long Stay segment, which targets lease agreements of over one year. This signal has become increasingly clear, especially in prime urban locations near the dark green BTS line, such as Phaya Thai and Phrom Phong, which are highly valued by expatriates as significant Long Stay areas.

Mr. Siripong Srisawangwong, Head of Investment Property Program at Origin Property Public Company Limited (ORI) and CEO of Park Luxury Co., Ltd., a luxury real estate developer, stated that Phaya Thai is a key target for multinational companies looking to establish offices in Thailand due to its proximity to the BTS green line, which easily connects to other central business districts (CBDs). Additionally, it serves as a connection point to the Airport Rail Link to Suvarnabhumi Airport, facilitating international travel. Historically, Phaya Thai has had the second-highest office occupancy rate in Bangkok, averaging 94.9%, which has invigorated the Long Stay residential rental market in the area.

“With the reopening, Phaya Thai will become even more vibrant. Previously, we mostly saw expatriates from Singapore, Malaysia, and China, but now we are increasingly seeing South Koreans moving into the area. Notably, there are now more restaurants catering to South Koreans, creating a growing community. Phaya Thai is set to become a primary location for middle management to upper-middle management employees who seek convenient travel options,” said Siripong.

Currently, five-star serviced apartments in Phaya Thai are considered rare, resulting in average rental rates of 46,000 THB per month for one-bedroom units and up to 85,000 THB per month for two-bedroom units. In the future, Phaya Thai is expected to become an even hotter location, with an additional 120,000 square meters of office space projected to be added by 2023, along with its distinction as a medical district, featuring leading hospitals ready to serve foreign clients and support its role as a medical hub.

Another interesting location is “Phrom Phong.” Siripong noted that the mid-Sukhumvit area is a location that “needs no further introduction,” especially Phrom Phong, which is an “international neighborhood” attracting expatriates from all nationalities, including Europe, America, and Asia, such as Japan. It is a charming area with lifestyle amenities catering to expatriates from various countries, featuring serviced apartments from all major international brands. Importantly, it hosts a mega-project for national events, such as the newly completed Queen Sirikit National Convention Center. Additionally, it is close to three major parks: Benjasiri Park, Benjakitti Park, and Lumphini Park, which are favorites among foreigners, leading Phrom Phong to rise to the top ranks in Sukhumvit with high demand for Long Stay accommodations from expatriates. The Ascott serviced apartment brand in central Phrom Phong has maintained full occupancy throughout the year, reflecting the attractiveness of investment properties in this area.

Siripong emphasized that due to these advantages, the company has developed an investment property project under the name HAMPTON Investment Property Program in collaboration with Hampton Hotel and Residence Management Co., Ltd. (HHR) to address the pain points of real estate investment by allowing consumers to invest in ownership of luxury five-star serviced apartments in the Hampton Residence Phayathai and Hampton Residence Next to Emporium, which are flagship projects of ORI. HHR's team will assist in finding Long Stay tenants, alleviating the burden on owners to find tenants and handle minor issues themselves, while ensuring a steady return of 5-9% per year for up to 20 years.

Notably, HHR's strength lies in its partnerships with over 70 relocation agents, with a network of Japanese and Asian companies sending expatriates to work in Thailand and seeking long-term accommodations, totaling over 2,000 companies. This ensures that investors can be confident in receiving stable returns as agreed.

“This year, high-risk assets such as cryptocurrencies and global stock markets have been highly volatile. Diversifying investments into real estate, which is a safer and more stable asset, is strong enough to withstand inflation, is something investors are currently prioritizing. We believe that assets in high-potential locations like Phaya Thai and Phrom Phong, along with our asset management system, will play a crucial role in addressing the pain points for this group of investors,” Siripong stated.

As for Hampton Residence Phayathai, it is a luxury serviced apartment project located on a major road in the heart of Phaya Thai, connecting to the AIRPORT LINK to Suvarnabhumi Airport. Investment units start at 7.99 million THB*, while Hampton Residence Next to Emporium is a serviced apartment project in the Sukhumvit area, just 500 meters from the EMDISTRICT, with investment units starting at 12 million THB*. Interested parties can find more details by calling 098 249 9955 or clicking https://bit.ly/3r0TxYD.