‘Charoen Nakhon’ has long been known as a thriving area, evolving from an ancient community of Bangkok into a port district, and now a riverside tourist destination that combines contemporary high-rise living, embodying the characteristics of a significant commercial area today.

Today, ‘Charoen Nakhon’ has transformed into a world-class prime location, living up to its name as a thriving area. This transformation has been fueled by the arrival of the Gold Line electric train network, which connects to the Green Line, acting as a major artery for Bangkok's public transport, making travel to all destinations in the city much easier. Particularly noteworthy is the arrival of ‘Icon Siam’, the only world-class riverside shopping center in Bangkok, which serves as a game-changing destination, elevating Charoen Nakhon into a global destination.

The arrival of these two factors has made Charoen Nakhon a hotspot for developers eager to invest in the area. It’s no surprise that today, Charoen Nakhon is home to a collection of high-end riverside hotels and condominiums. Currently, the project that is particularly catching attention is RHYTHM Charoennakhon Iconic, a luxury condominium from AP that is establishing its presence in Charoen Nakhon.

One reason it stands out is its location, which truly lives up to the term 'iconic'. AP has acquired land to develop a project that is “very close to the electric train”, making it a rare find. It’s not easy to find land just 100 meters from the Charoen Nakhon station for residential development. Moreover, it is the only luxury condominium in the area that is within walking distance to Icon Siam, offering unparalleled convenience.


‘Icon Siam’: A Significant Catalyst for the Charoen Nakhon Area

It must be acknowledged that the arrival of ‘Icon Siam’ has been a crucial factor in elevating Charoen Nakhon to a new CBD, making this landmark a vital twin city of Bangkok and a must-visit destination for people worldwide.

Icon Siam is a key destination that stimulates activity in the Charoen Nakhon area. It is not just a new riverside shopping center for the Thonburi side but also a major magnet attracting tourists from around the globe, significantly boosting the national economy. It serves as a unique shopping and entertainment hub where visitors can stroll, dine, relax, and enjoy various events and activities, from product launches to annual festivals and world-class exhibitions throughout the year, drawing interest from locals, outsiders, and tourists alike.

Not only is there Icon Siam, but the surrounding area is also filled with communities, hotels, hospitals, leading educational institutions, office buildings, numerous restaurants, wellness centers, and historical knowledge sources, along with many other amenities that cater to a high-end lifestyle. This reflects the endless potential of the Charoen Nakhon area, including the Bang Rak Central Post Office, Millennium Hilton, Peninsula, Oriental, Shangri-La, and The Light House.

Additionally, the ICS mixed-use project in the Thonburi area will connect with Icon Siam, covering over 5 rai with a building taller than 29 stories, allocating space for retail, hotels, and office buildings totaling over 70,000 square meters. This will create a comprehensive service area with supermarkets, dining, fashion, lifestyle, beauty, IT, and health services to meet the daily living and shopping needs of the local population, with an estimated daily footfall of over 40,000 people.

This does not even mention other future projects that will be developed by large investment groups in the area, both public and private, such as the upcoming Ministry of Interior government complex, which will further enhance the attractiveness of this location.


‘Gold Line’ Electric Train: Connecting Charoen Nakhon to the City Center in Just Minutes

In addition to the rapid commercial growth, the improved transportation system in Charoen Nakhon is another key factor contributing to the area’s swift development. The arrival of the Gold Line electric train allows direct access to the city center via the Charoen Nakhon station located in front of Icon Siam. Furthermore, the area is well-connected with other transportation systems, enabling easy access to the Silom-Sathorn CBD within 5 minutes, whether by bus, boat, or rail.

For cars, you can use the riverside road connecting to Krung Thonburi Road to reach Sathorn via the Taksin Bridge. It also connects to Ratchaphruek Road and Rama 3 Road, providing access to expressways for traveling outside the city.

For boats, there are numerous piers along the Chao Phraya River that can take you to various destinations. For instance, the Klong San pier has a ferry service to Si Phraya pier, and there are express boats to Sathorn or north to Phra Chan or Pak Kret. The Si Phraya pier offers express boat services that can travel throughout the Chao Phraya River, including services to Icon Siam.

For rail, the Gold Line electric train will connect to the Green Line at Krung Thonburi station, with the ‘Charoen Nakhon’ station adjacent to Icon Siam serving as a key boarding and alighting point for connecting to the Green Line. This Gold Line will symbolize the arrival of an urban lifestyle for the new generation, making Charoen Nakhon as accessible as other areas. Additionally, in the future, if the Purple Line at Phutthabucha station is completed, it will connect with the second phase of the Gold Line, intersecting with Prachathipok Road, creating a new interchange that links the two lines, further enhancing the transportation potential of Charoen Nakhon.


Land Value and Investment Returns for Condominiums in Charoen Nakhon

The potential of the Charoen Nakhon area has led to numerous large real estate projects establishing a presence in various business forms over the past few years, including residential buildings, rental office buildings, and mixed-use developments. This has caused the average land value in the area to rise steadily each year. According to an assessment by CBRE, the world's largest commercial real estate services and investment firm, it was revealed in 2019 that since the launch of Icon Siam, the land value along Charoen Nakhon Road and nearby areas has more than doubled, from 150,000 - 250,000 baht per square wah to 300,000 - 450,000 baht per square wah.

Meanwhile, the Treasury Department has reassessed land prices on Charoen Nakhon Road for the years 2023-2026, setting the price at 135,000 – 250,000 baht per square wah as of January 1, 2023.

This aligns with the growth rate of condominiums in Charoen Nakhon, which have seen an average of 1-2 new projects launched each year over the past decade, with an average presale growth rate of 10.3% per year. When comparing the returns from holding condominiums in Charoen Nakhon, the annual average presale price adjustment to resale prices shows that condominiums in this area can generate an average capital gain of 5%-7.5% per year, with resale prices averaging 120,000-240,000 baht per square meter.

Moreover, Charoen Nakhon is considered “the prime location along the Chao Phraya River with the highest condominium prices” compared to other riverside condominiums. It is the closest location to the city, allowing for the quickest access to the CBD areas of Silom-Sathorn. Additionally, it is an old city area with unique characteristics, home to several 4-5 star luxury hotels, and situated in the heart of the country’s world-class shopping hub.

RHYTHM Charoennakhon Iconic: The Pinnacle of Living in Charoen Nakhon, Opposite Icon Siam

As for RHYTHM Charoennakhon Iconic, it is another luxury condominium project from AP that deserves attention due to its rare location, directly opposite Icon Siam, just 100 meters from the Charoen Nakhon station of the Gold Line. The project spans approximately 4 rai, consisting of one 29-story building with 577 units, offering both simplex and vertiplex room types. It is surrounded by leading amenities, including hospitals, lifestyle centers, and educational institutions such as Shrewsbury International School, Assumption College, Bangkok Christian College, Taksin Hospital, St. Louis Hospital, Samitivej Thonburi Hospital, The Light House Charoennakhon, Vue Charoennakhon, and King Power Mahanakhon.

Model rooms will be open for viewing on November 25-26. Join us at the sales office, and you can find more details at https://apth.ly/9ppd.