For many, Charoenkrung may only evoke images of an old community area that retains its traditional charm. However, did you know that this place is the starting point of past economic prosperity? Today, Charoenkrung remains a central urban area adjacent to the important business districts of Silom and Sathorn, making it a prime location with unique characteristics that set it apart from other central city areas.

Rhythm Charoenkrung Pavilion is one of the interesting projects in this location, catering to the needs of high-end buyers with over 40% of its units being larger rooms. Before we delve into the appeal of this project, let's take a look at the overall market for large condominiums.

What Are Large Condominiums in Prime Areas Like?

Typically, large condominiums in each project have a limited number of units due to their relatively high prices, focusing on the needs of upper-class buyers. This results in a limited supply of large units in the market, suitable for those seeking more living space or expatriates working in Thailand. These groups are often looking for larger rooms in prime areas in the city. Terra Research has surveyed the supply of large condominiums over the past five years and found that locations with large units are usually in prime areas, including:

  • Thonglor - Ekkamai: Luxury Lifestyle Location This area is filled with luxurious lifestyle options and is truly a vibrant part of Bangkok. However, this comes at the cost of high housing prices, with a total supply of over 2,553 units of 1-bedroom apartments starting at 50 sq.m., ranging up to penthouses of 662 sq.m. The average selling price per square meter is between 160,000 - 408,000 THB.
  • Asoke - Ploenchit: Urban Central & Luxury Location This central Sukhumvit area is diverse, filled with hangout spots, international restaurants, luxury services, and high-end condominiums, with about 1,250 large units ranging from 1-bedroom apartments of 45 sq.m. to penthouses of 180 sq.m. The selling prices range from 145,000 - 285,000 THB per square meter.
  • Ratchathewi - Siam - Samyan: Inner Urban Location This inner city area is the center of the subway system and the largest lifestyle and shopping center in Bangkok, close to several leading educational institutions and easily accessible. The supply of large units here is about 1,920, with 1-bedroom apartments starting at 46 sq.m. up to penthouses of 295 sq.m. The selling prices range from 140,000 - 240,000 THB per square meter.
  • Rama 9 - Ratchada: New CBD & New Chinatown Location This area is experiencing significant growth due to the influx of new offices and mixed-use developments, becoming a popular area for Chinese and South Korean residents. The supply of large units totals over 1,850, with sizes ranging from 45 - 270 sq.m. The average selling price per square meter is between 120,000 - 230,000 THB.
  • Charoenkrung: Prime Riverside & River View This riverside location in the heart of the city is distinct from other central areas, filled with 4-5 star hotels, the charm of an old community, and the beautiful view of the Chao Phraya River. It offers a peaceful yet vibrant atmosphere for living, with average selling prices per square meter ranging from 130,000 - 160,000 THB.

In Charoenkrung, the supply of large condominiums is quite limited, with fewer than 300 units available, and currently, over 75% have already been sold. Owning a large condominium in this area is becoming increasingly challenging. Rhythm Charoenkrung Pavilion is a project worth watching in this location because it features a significant number of large units, with over 40% of the project dedicated to larger rooms. The reason for developing larger units is that this area has a demand for spacious living, with limited supply. Additionally, the project is located opposite an international school, which attracts demand from parents and foreign teachers.

Investment Returns on Large Condominiums

Data on investment returns for large condominiums shows that Thonglor-Ekkamai has the highest returns, with an average rental yield of 5.2% per year and a capital gain of approximately 5% per year. Rental prices start from 40,000 - 120,000 THB per month. Other locations have similar investment returns. For Charoenkrung, rental prices range from 20,000 - 90,000 THB per month, with a rental yield of about 4.8% per year and an average capital gain of 4.4% per year.

Rhythm Charoenkrung Pavilion: Large Condominiums in Charoenkrung

The Charoenkrung area is distinct from other central city locations like Sukhumvit, Rama 9, or Silom-Sathorn due to its riverside setting, home to several 4-5 star luxury hotels and an old community, resulting in less congestion while still offering a livable atmosphere. However, the convenience of urban living remains intact.

The project Rhythm Charoenkrung Pavilion is located on Soi Charoenkrung 73, a strategic location that provides easy access to the CBD via Sathorn Road or Chan Road connecting to Charoenrat Road, making it only a 10-minute drive to the Sathorn CBD. It also connects to the Si Rat Expressway. For public transport, there is the BTS Green Line at Taksin Bridge Station, and in the future, the Gray Line will pass through this area.

With just a 10-minute distance from the Sathorn CBD, which has over 1.75 million square meters of office space and a demand for more than 150,000 jobs from both Thai and foreign workers, Charoenkrung is an attractive location for many residents. This is reflected in the number of BTS passengers in 2021, with 5 stations in the area, including Sala Daeng, Chong Nonsi, Saint Louis, Surasak, and Taksin Bridge, totaling 9,219,932 passengers.

Charoenkrung: A Community of Foreigners Since the Past

Another observation about the Charoenkrung area is that it has been a place where foreigners, especially from the West, have settled since the past. This is reflected in many significant places resulting from the arrival of Westerners, such as churches and consulates. Charoenkrung Road is also the first western-style road in Thailand, marking the beginning of the transition from waterway transportation to a road system. Additionally, it is the widest and longest road in the country.

The most notable aspect is that many schools in the area are renowned Christian schools and serve as models for many other Christian schools in Thailand, such as Bangkok Christian School, Assumption College, Assumption College Thonburi, Saint Louis School, Saint Louis College, and Saint Joseph Convent School. These schools all have a history of over 100 years, and today, the Charoenkrung-Sathorn area is home to many other prestigious schools.

Rhythm Charoenkrung Pavilion: The Only Condominium with Large Units, Near Water and Schools

Rhythm Charoenkrung Pavilion is a condominium located in Charoenkrung, just across the street from Shrewsbury International School. It can expect turnover from parents and demand from both the CBD Sathorn job market and the school. It is worth noting that Shrewsbury International School is a well-known international school with the highest tuition fees, consistently ranking in the top 10 for several years. Recently, for the 2022-2023 academic year, it ranked first with tuition fees reaching 1,066,800 THB per year. If parents wish to enroll their children from the first grade until graduation, they may need to spend around 14-15 million THB.

Interesting statistics about Shrewsbury International School include its focus on a rigorous curriculum and international recognition. In 2021, 1 in 5 students were accepted into top-ranked universities, with 426 seats available for admission to universities in the US and UK, as well as many medical faculties from universities in the country. The high continuation rate makes Shrewsbury International School a sought-after institution for high-income parents. The school accepts students from kindergarten to high school (Primary & Secondary) with an enrollment of approximately 1,900 - 2,300 students.

(Source: THE NATION)

Highlighting the Features of Rhythm Charoenkrung Pavilion

In addition to being located in a prime riverside area opposite a top school and providing convenient access to the CBD and expressways, Rhythm Charoenkrung Pavilion also has an interesting development concept and designs its common areas and residential units to fully utilize the surrounding environment. The project details include a 44-story building with 421 units and 421 parking spaces, which is 100% (not including stacked parking). It features a proportion of large units at 40%, starting from 1-bedroom plus units of 43.5 sq.m. and 2-bedroom units starting from 96 sq.m. This design caters to upper-class city dwellers who prioritize private vehicle use and do not necessarily rely on public transport. The project development concepts include:

  • The Luxury Gated Community: The main development concept focuses on accommodating the lifestyles of all generations, whether through the design of common areas or residential units, and ensuring maximum security.
  • The River is Your Neighborhood: A living atmosphere that embraces nature while being close to the CBD, offering beautiful views of the Chao Phraya River from the Sky Facilities.
  • The Ultimate Privacy: Common areas are arranged in 2 buildings, ensuring maximum privacy, including the Pavilion Building and Resident Building, with over 3.5 rai of common area and more than 1 rai of green space within the project.
  • Best Quality in All Aspects: Residential units are designed to be flexible in function, featuring flexible areas that can be adapted for various uses, including kitchens, storage, laundry, or maid rooms.

Large Unit Types: 43.5 sq.m. and 96 sq.m.

Based on the concept of Best Quality in All Aspects, the residential units in the Rhythm Charoenkrung Pavilion project are designed to have flexible areas that can be adapted for various uses.

  • 1 Bedroom Plus, 43.5 sq.m. Features a spacious living area and dining area that connect seamlessly, allowing for full views. The kitchen is enclosed, eliminating concerns about odors, and it connects to the dining area. The large bedroom has ample natural light and can accommodate a large wardrobe or be adapted into a walk-in closet, with a bathroom accessible from two sides.
  • 2 Bedroom, 96 sq.m. A wide unit that allows for diverse and proportional space allocation, especially in the living and dining areas, which are 5.2 meters wide, providing expansive views. Both bedrooms have en-suite bathrooms and can accommodate large wardrobes. The kitchen is divided into two sections: an open kitchen with an island and a closed kitchen. Opposite the kitchen is the laundry area, along with a maid room and an en-suite bathroom, allowing for future space adjustments.

The project Rhythm Charoenkrung Pavilion is a condominium in a prime area of Charoenkrung, emphasizing that 40% of the residential units are designed to meet the lifestyles and needs of upper-class buyers seeking to live in the city center in a private atmosphere, along with quality communities and schools for their children. Ownership is available now, with prices starting at 6.95 million THB* and an average price of 159,000 THB/sq.m.* For more project information, visit https://apth.ly/4e0r