Origin Play Sri Lasalle Station: A Hidden Gem in Sri Lasalle

Apr 05, 2023 | view 10,979

Sri Lasalle is an outer city area that many might not expect to be surrounded by numerous positive factors at this time. This is why Origin Play Sri Lasalle Station is an interesting project for those looking for a condominium in a location that supports urban expansion.

This article from TERRABKK will briefly discuss the project itself but will emphasize the potential of the Sri Lasalle area as one of the most promising locations for urban expansion in the Greater Bangkok area. It offers complete access to amenities, nearby job opportunities, a thriving environment, and a trend towards becoming a location that can fulfill and grow further.

Bangna-Lasalle: An Upgraded Sandwich Location from Mega Projects

Although Sri Lasalle does not have mega projects coming in as dramatically as neighboring areas like the southern Sukhumvit zone (On Nut - Bangna) and Bangna-Trad zone, it must be noted that Sri Lasalle benefits significantly from these zones. It is conveniently located near job sources, easily accessible due to public transport systems, and importantly, it is an area with affordable housing prices. This makes Sri Lasalle a 'sandwich' location that meets the demand from both neighboring sides, with several new developments occurring, including:

● On the southern Sukhumvit side (On Nut - Bangna): A New Business Zone

The southern Sukhumvit area (On Nut - Bangna) is a zone with new mega projects emerging between 2023 and 2027, totaling over 500,000 square meters and valued at over 100 billion baht. These projects range from the BTS On Nut to BTS Bangna, including Nai Lert Office, Cloud 11, True Digital Park (Phase 2-3), Intanin Mansion & Tower, 66 Tower, Chatrium and Bangkok Mall. Most of these projects are office buildings for rent that attract new business groups, leading to an estimated demand of about 30,000-50,000 people.

● On the Bangna-Trad side: The Eastern Economic Corridor

The boundary between Bangkok and the EEC has seen various projects from both the government and private sectors entering since 2023-2035, all of which are mega projects. Government projects include the LRT Bangna-Suvarnabhumi (expected to open in 2029), high-speed rail connecting three airports and Suvarnabhumi Airport Phase 2, while private sector projects include Mega City, Trust City, Fraser Industrial Park and Samanea Plaza, with a total area expected to exceed 3.5 million square meters (approximately 5,900 rai). It is evident that new projects in this zone are not just elevating the location but are national-level projects, with future demand estimated at 140,000-300,000 people.

With more affordable housing prices than Sri Lasalle, it is a central location that maintains a Job-Housing Balance and can effectively meet the demand from both sides.

Understanding the Demand Around Sri Lasalle

The Sri Lasalle area is not just waiting for future project demand; current demand across the three zones—southern Sukhumvit, Sri Lasalle-Samut Prakan and Bangna-Trad—shows over 35,000 establishments and approximately 1.02 million insured individuals, with numerous types of important job sources such as office buildings, hospitals, international schools, shopping centers, and industrial estates, totaling around 80,000 - 100,000 personnel.

Office Buildings: There are 19 office buildings with a total area of over 524,950 square meters, estimated to accommodate 20,000-50,000 personnel. Offices in the southern Sukhumvit zone tend to attract new business groups, while those in the Bangna-Trad zone are often industrial and logistics companies.
Hospitals: There are 11 hospitals, mostly large ones with bed counts ranging from 60 to 350, employing 5,540 personnel.
Retail: There is a variety of lifestyle sources, from specialty stores to shopping centers, covering over 524,300 square meters, with an estimated 10,500 personnel.
International Schools: As a hub for multinational companies, there is a significant foreign population, with 15 international schools and approximately 600 personnel.
Industrial Estates: Mostly located in the Samut Prakan and Bangna-Trad zones, there are 3 estates: Bangpu Nuea Industrial Estate, Bangpu Industrial Estate, and Bangplee Industrial Estate, with around 800 factories and an estimated 45,000 personnel.

Sri Lasalle: A Great Place to Live

TERRABKK has closely surveyed the Sri Lasalle area and collected data on various amenities to create a Livable Index based on 6 key dimensions of urban living: Accessibility, Workplace, Food & Shop, Educational, Medical and Recreation, with a maximum score of 6 for each dimension. The details are as follows:

Accessibility: This score considers the importance of travel by private car and public transport, assessing access to bus stops, BTS stations, U-turns, pedestrian bridges, and crossings. Sri Lasalle has access to public transport at 17 points and driving conveniences at 32 points, scoring 2 points for accessibility.
Workplace: In the Lasalle zone, there are 2 office buildings: Lasalle Complex and A.P. Nakarintr, scoring 2.75 points based on the size and grade of the office buildings.
Food & Shop: The score considers the density of shops, restaurants, and various shopping sources in the Lasalle zone, totaling 55 establishments, with a score of 4.45.
Educational: The score is based on the types of schools (private, international, government) and the teacher-to-student ratio, with 5 schools in the Lasalle zone, scoring 4.4 points.
Medical: The score considers the number of beds and personnel per bed. Although there is only one hospital in the Lasalle zone, Sikarin Hospital is a large facility with 258 beds and 955 personnel, scoring 3.5 points.
Recreation: This score considers the size of facilities and the variety of activities. In the Sri Lasalle zone, access to Phutthanan Sports Complex, Phutthanan Golf Course, and Navy Golf Course provides a score of 3.4 points.

A Location with High Growth Potential and Continuous Supply

The residential-friendly nature of the area, proximity to job sources, and convenient travel have led to increased residential development. Data from the TerraByte platform regarding new condominium launches from 2017 to 2022 shows that the Bangna area and Samut Prakan city have seen continuous supply every year, ranking second with 20,700 units and third with 18,000 units in new launches, following Chatuchak with over 25,000 units. In a broader view, the eastern Bangkok zone has a total supply of over 38,700 units, making it the area with the most condominium growth. The influx of substantial supply reflects that property developers recognize the potential of this location.

Affordable Prices, Great for Living and Investment, with Demand Supporting an Average Return of 5.1% per Year

Currently, the market price for condominiums in the Sri Lasalle area averages 85,000 baht per square meter, which is easily accessible compared to nearby Bangna, where prices range from 89,000 to 130,000 baht per square meter. When considering the price against the abundance of the area and the amenities available for living, Sri Lasalle is a highly valuable and interesting location.

One of the projects to watch in this area is Origin Play Sri Lasalle Station, a new Duo Space condominium project from Origin with a selling price close to the average market price in the area. With its affordable price, this project is suitable for those looking to live in it, first jobbers seeking reasonably priced condos that fit their lifestyle, office workers who primarily use the BTS and are looking for condos near the station, as well as those looking to move closer to the city from the suburbs.

Alternatively, purchasing for investment is also a viable option, as the relatively low condominium prices mean that investors do not have to bear excessively heavy costs, and they can still rent at prices close to the market. Condominiums in the Sri Lasalle area can yield an average Rental Yield of approximately 5.1% per year. Rental prices vary based on room size and project condition, with studio rentals ranging from 6,000 to 10,000 baht per month, 1-bedroom units around 7,000 to 14,000 baht, and 2-bedroom units priced at 12,000 to 22,000 baht per month. For resale condominiums, prices range from 60,000 to 92,000 baht per square meter, with a Cap Gain of about 3%-4.5% per year.

5 Reasons to Choose Origin Play Sri Lasalle Station

Duo Space condominium with a 4.2-meter high ceiling, increasing living space, and it is the first pet-friendly condominium in Lasalle, catering to pet lovers.
Conveniently located condominium just 200 meters from Sri Lasalle BTS station, making it easy to access public transport.
Enjoy a comfortable lifestyle without going far, with a community mall in front of the project featuring up to 10 shops.
Over 4 rai of common area with comprehensive amenities catering to all lifestyles, supporting activities for both people and pets.
Smart pass smart pay technology that allows for a more convenient lifestyle with a smart watch, catering to modern needs.

The completeness of each dimension of the area mentioned above makes Sri Lasalle a highly suitable location for living. Origin Play Sri Lasalle Station is one of the projects to watch, with its unique features addressing living needs, making it a valuable condominium that is affordable for both personal living and investment. For inquiries and special privileges, register at http://bit.ly/3lP3Dg3.