Reference Ekkamai: Live Where Design Matters in the Heart of Bangkok's Design District

Oct 11, 2024 | view 11,702

Ekkamai is an intriguing area that has grown significantly due to its diversity in culture, lifestyle, architecture, and design, seamlessly blending into a prominent Design District in Bangkok.

Today, the people of Ekkamai are not just looking for a place to live that is equipped with amenities; they also have the DNA of a Trend Setter, wanting to reside in a Creative Hub surrounded by constant inspiration and creativity. The introduction of the Reference Ekkamai project by SC Asset, a condominium brand with the core concept of Find Inspiration in Design, has become a project that deeply resonates with the DNA of Ekkamai's residents, making it The Only One Design-Centric Condo in the area.

Ekkamai: A Diverse Area Growing with the DNA of a Design District

Although there has never been an official announcement, many who are familiar with Ekkamai know that it is one of the areas recognized as a Trend Setter in Bangkok. The growth of Ekkamai into a Creative Hub is rooted in the diversity of its residents, including locals, young professionals, and expatriates, especially the Japanese, who were among the first foreign communities to settle here after World War II, giving Ekkamai a distinct Modern Japanese community vibe.

In addition to the diversity of its residents, Ekkamai's growth is most clearly reflected in its Lifestyle & Workplace. Initially influenced by the growth of the Sukhumvit area, particularly Chidlom, Phloen Chit, Asoke, and Prom Phong, which are filled with large office buildings, Ekkamai has transformed into a Creative Hub housing various creative industries, making its identity as a Design District increasingly evident. This includes businesses in furniture and home decor, galleries, wedding planning, design and advertising agencies, leading to a continuous emergence of offices and mixed-use projects in Ekkamai over the past few years.

Ekkamai: A Neighborhood that Meets Diverse Lifestyle Demands

Ekkamai's identity as a Trend Setter and Design District is clearly reflected in the daily lives and venues of its residents. Observing the diverse crowd of both Thais and foreigners frequenting cafes for coffee in the morning, visiting design studios during the day, office workers dining at both Thai and international restaurants in the evening, and young people and seniors hanging out at bars late at night has become a familiar routine in this area.

Beyond the lifestyle venues reflecting the tastes inherent in being a Design District, the amenities in Ekkamai also reflect its status as an International District. It is a neighborhood that combines community malls, lifestyle malls, hospitals, and international schools, making Ekkamai not only a location for design enthusiasts but also a place that caters to the lifestyles of expatriates and locals who desire to live close to an Exclusive Lifestyle in the heart of Bangkok, including Ekamai International School, Bangkok Prep, The Early Learning Centre International School, DONKI Mall, J Avenue, Nihonmura Mall, FUJI Super, and Samitivej Hospital.

What’s Next for Ekkamai

Looking back 15 years ago, the growth of job opportunities and condominiums was still concentrated around the early to mid-Sukhumvit area (Prom Phong). However, in the last decade, Ekkamai has stood out with the emergence of community malls, lifestyle malls, and mixed-use projects that have created new job opportunities and attracted a diverse crowd to the area, leaving little room for further development today.

The continuous growth of amenities in Ekkamai is primarily through Mixed-use & Commercial projects that cater to diverse lifestyles and the DNA of being an Exclusive Lifestyle District in Bangkok, with over 230,000 square meters of new development. At the same time, Ekkamai has managed to preserve the lifestyle of its original community, evident from the small shops that cluster along the streets, allowing residents to walk through the area without feeling bored. The charm of Ekkamai's diversity continues to showcase its creativity to this day.

Average Land Prices in Ekkamai Grow by 5.6% Annually

The growth of Ekkamai is reflected in land prices from the Treasury Department, which have consistently increased by an average of 6% per year. Currently, the assessed land price is 350,000 Baht per square wah, while the actual selling price is significantly higher, reaching 950,000-1,200,000 Baht per square wah, which is double the assessed price. This is due to Ekkamai's ongoing development potential, the growth of job opportunities and condominiums, and its status as a lifestyle hub attracting people to the area. The increase in assessed land prices and current land sale values indicate the area's strong potential and long-term value appreciation. Purchasing a condominium in a location with growing land prices can yield profits in the future, whether through resale or rental opportunities.

Ekkamai Condominium Market by Zone

If we categorize Ekkamai based on land use and the clustering of condominiums, it can be divided into three zones:

1. Early Ekkamai Zone: This zone is close to the BTS Ekkamai station, with heavy traffic throughout the day and a high commercial presence due to numerous lifestyle venues, shops, restaurants, entertainment venues, and office buildings. Being the closest zone to the BTS, it has higher selling and rental prices than other zones, but the Rental Yield per year is not significantly different. The average market price for condominiums is 220,000 Baht per square meter, with average rents between 28,000-60,000 Baht per month and an average Rental Yield of approximately 4.3%-5.6% per year. For second-hand condominiums, prices range from 193,000-235,000 Baht per square meter. This zone is popular among businesspeople, young professionals, and expatriates seeking convenience from easy access to Sukhumvit Road and the BTS.

2. Central Ekkamai Zone: This zone connects to Thonglor and Phra Khanong, leading to the expansion of entertainment and dining options from Thonglor into this area. Central Ekkamai is considered a Hangout Area with a livelier atmosphere than other zones along Ekkamai Road. The overall condominium market in this zone has a reasonable supply, with average market prices ranging from 190,000-210,000 Baht per square meter and average rents between 23,000-50,000 Baht per month, with an average Rental Yield of approximately 4.2%-5.7% per year. For second-hand condominiums, prices range from 165,000-215,000 Baht per square meter. Customers purchasing condominiums in this zone are often businesspeople, investors, expatriates, and families seeking convenient access to work, educational institutions, and lifestyle venues.

3. Late Ekkamai Zone: This zone primarily consists of low-rise residential areas with a community feel, featuring shops, restaurants, and international schools. It has a quiet atmosphere, making it suitable for residential living, often referred to as the Residential Area of Ekkamai. Condominiums in this zone are not densely packed, with average market prices ranging from 147,000-160,000 Baht per square meter and average rents between 19,000-35,000 Baht per month, with an average Rental Yield of approximately 4%-5% per year. For second-hand sales, prices are around 135,000-182,000 Baht per square meter. The customer base in this zone includes families, working professionals, investors looking for potential in new locations, expatriates, and those who appreciate a natural and quiet environment in the city.

According to Krungthai COMPASS, Ekkamai is highly popular among expatriates, not only Japanese but also from Europe, the United States, South Korea, and China, with a significant proportion of tenants at 89%.

Growth of Second-Hand Condominium Prices in Ekkamai

TerraBKK has surveyed the changes in resale condominium prices in the market, finding that second-hand condominium prices in Ekkamai are steadily increasing, with an average growth of 4%-9% per year. Looking back ten years, the average selling price for second-hand condominiums was 100,000 Baht per square meter, but currently, it has risen to an average of 170,000 Baht per square meter. The continuous growth of second-hand condominium prices reflects the potential of the area that meets residential needs and the ongoing demand for housing. Choosing to purchase a condominium in this area has the potential for high returns, whether through resale or rental, making it suitable for both personal residence and future asset accumulation, as well as for investors looking for locations with growth potential for long-term investment.

Reference Ekkamai: Find Inspiration in Design

Reference Ekkamai is a new condominium project from SC Asset, featuring a unique design that reflects the charm of Ekkamai as a distinctive Design District. The project is inspired by the concept of Simplicity in Design, drawing from the nostalgic feelings of the Ekkamai area, blending modern design into a refined and elegant aesthetic in every aspect, reflecting the beauty of living in Quiet Elegance. This simplicity creates a timeless impression, balancing all forms of life while paying attention to every detail of design for perfection, as SC Asset believes that design is one of the essential elements of living Live Where Design Matters.

The project also collaborates with NORSE, the exclusive importer of leading Scandinavian design furniture in Thailand, to create beauty with iconic furniture pieces from world-class designers that offer simplicity, elegance, meticulousness, and functional perfection.

Reference Ekkamai offers privacy with only 396 units in a 44-story building, with a maximum of 11 units per floor, ensuring a non-crowded and serene atmosphere suitable for those seeking tranquility and privacy.

The project also provides convenience that meets all lifestyle needs for residents, with after-sales services from SC Asset, ranked number one in the real estate industry, offering comprehensive after-sales services through SCAble, along with Concierge Service, the RueJai app, a quality personal assistant that helps enhance the living experience for everyone in the home, covering maintenance, home automation, news updates, home expert packages, and special privileges for residents, along with health insurance from Allianz Ayudhya and shuttle services to BTS Thonglor and Ekkamai, as well as services from Muvmi in the Sukhumvit area.

Facilities Designed for Life

The project comes with comprehensive common areas and various functions spread across multiple floors, catering to all lifestyle needs, including:

- The Serene Sphere: Ground Floor

Floating Oasis, Stepping Terrace, The Conservatorium, Colonnade Gallery, Drop-Off, Mail Room, Delivery & Pick-Up, Parcel Room, and Zero Waste.

- The Holistic Sphere: 5th Floor

Kids Cocoon, Wellness Garden, Yoga Studio, and The Movement Lab.

- The Relax Sphere: 43rd - 44th Floor

S63 The Infinity Edge Swimming Pool, Pool Lounge, Kids Pool, Onsen The 55 Lounge (Tea Lounge & Co-Kitchen), Jacuzzi, and The Ember Lounge.

- Rooftop Floor: Rooftop Garden.

Reference Ekkamai is more than just a residence; it is the answer to a new dimension of life where work, personal life, and creativity converge, creating a life that is both inspiring and stylish in the vibrant neighborhood of Ekkamai.

First Preview on November 16-17, fully furnished, with special promotions including an iconic item selected by Norse Republic starting at 5.99 million Baht.