Although the Rama 9 area has been a hot spot for several years, development in this location continues to thrive, especially with major private sector projects enhancing lifestyle and job opportunities, attracting significant demand.

However, over the past five years, there have been very few new condominium launches within a 500-meter radius of the prime location at Rama 9 Intersection, with only the Nue District R9 project launching in 2022. Therefore, the introduction of the Nue Epic Asok - Rama 9 project is noteworthy, as it is not only within walking distance to the area but also a new development that has been rare in the prime Rama 9 location.

Rama 9 Intersection: The Prime Location of the New CBD

The Rama 9 - Ratchada area has been dubbed the New Business District of Bangkok for many years, but it is undeniable that the center of this New CBD is at the Rama 9 Intersection, which is a zone concentrated with job opportunities, shopping centers, and public transport, particularly with the Grand Rama 9 project, which has been recognized as the most expensive mixed-use land in Thailand.

Currently, the Rama 9 area boasts over 1.39 million square meters of combined job and lifestyle spaces, with the entire stretch of Ratchadapisek Road filled with shopping centers, Grade A office buildings, lifestyle venues, and international restaurants. It serves as a hub for many leading companies across various industries, including Food & Beverage, Logistics, Consumer Goods, Tech Companies, and Financial and Insurance sectors. Additionally, there are over 200 rai of land awaiting development, most of which is expected to be transformed into mixed-use projects and office buildings, potentially attracting at least 40,000 new people daily.

Diverse Transportation Modes in the Rama 9 Area

The Rama 9 Intersection is a transportation hub that connects various modes of travel, including the Blue Line MRT (just 2 stations to Sukhumvit), the Airport Rail Link, and the Si Rat Expressway.

The Nue Epic Asok - Rama 9 project is located on Rama 9 Road, approximately 350 meters from the Rama 9 Intersection, a distance that is easily walkable. It provides complete and convenient access to the lifestyle and transportation hub of the New CBD, which has not seen new projects launched in this proximity for many years.

Being a central business area, Rama 9 experiences high traffic and demand, with MRT station Rama 9 recording up to 18,780 passengers daily. The total vehicle count around the Rama 9 Intersection, from Rama 9 Road, Ratchadapisek Road, and Asoke-Dindaeng Road, reaches 110,000 vehicles daily, reflecting the traffic demand and vibrancy of this New CBD location.

The Future of Amenities Around Rama 9

Rama 9 will not stop progressing, as over 200 rai of land await development, with several projects already announced, both under development and awaiting development. This has led to land prices rising to nearly 2 million baht per square wah in 2023, up from 1.1 million baht per square wah in 2021.

Most of the upcoming projects in the Rama 9 area are shifting towards the Tiang Ruam Mit Intersection, as the area near Rama 9 Intersection is nearly fully developed. The total value of new projects amounts to 44.6 billion baht, including Jodd Fair valued at 7 billion baht, AIA Ratchada 2 valued at 10 billion baht, MCOT (the former MCOT area of 20 rai and the Tiang Ruam Mit side of 50 rai) valued at approximately 10 billion baht, and the Grand Rama 9 project, which will be developed into a mixed-use project covering 73 rai, valued at 17.6 billion baht.

Additionally, there are government projects such as the Orange Line MRT from Cultural Center to Minburi and the Bang Khun Non to Cultural Center line, which are set to begin construction in 2025, along with the mega-project Makkasan Complex covering over 140 rai that is still awaiting development.

The Growth of Condominiums at Rama 9 Intersection

Rama 9 is one of the locations experiencing significant growth in the condominium market in Bangkok, with its comprehensive offerings meeting the needs of urban living as mentioned earlier. Over the past 10 years, Rama 9 has consistently seen condominium supply, with 5 new projects launched in 2018 due to favorable factors positioning Rama 9 as a new economic center, attracting both tourists and investors to the area. However, since 2019, there have been almost no new projects in this area until 2022 when only the Nue District R9 project was launched. Recently, this year, a new project in the area is NUE Epic Asok - Rama 9, a high-rise condominium with 3,107 units, with presale prices starting at 2.59 million baht or starting at 99,000 baht per square meter, which is considered the most accessible price in this location. Currently, the average selling price of condominiums ranges from 149,000 to 235,000 baht per square meter, making it difficult to find condominiums priced in the low hundreds in this area. Given the potential of the location, condominium prices are expected to rise.

Investment Returns for Condominiums in Rama 9

The overall investment market for condominiums in Rama 9 can generate an average Rental Yield of 3.5 - 5.6% per year, with average rental prices per square meter ranging from 530 to 850 baht per month. For studio units sized 22-30 square meters, rental rates range from 12,000 to 19,000 baht per month; for 1-bedroom units sized 25-50 square meters, rental prices range from 14,000 to 35,000 baht per month; for 2-bedroom units sized 42-90 square meters, rental prices are approximately 28,000 to 60,000 baht per month; and for 3-bedroom units sized 90-140 square meters, rental prices range from 63,000 to 98,000 baht per month.

In the secondary market, the selling prices for second-hand condominiums range from 110,000 to 270,000 baht per square meter, generating an average Capital Gain of 4 - 5% per year.

Terra BKK has surveyed the rental investment returns of each condominium in the Rama 9 area, finding that each project has similar returns, not significantly differing from the market returns. If categorized by selling prices in the secondary market, condominiums priced at 100,000-150,000 baht per square meter, such as Aspire Asoke-Ratchada, Ideo Mobi Rama 9, and The Line Asoke-Ratchada, have a rental yield of 3.5-6% per year, with rental prices starting from 13,000 to 65,000 baht per month for units sized 22-90 square meters, from studio to 2-bedroom units. Condominiums priced at 150,000-200,000 baht per square meter, such as Ideo Mobi Rama 9, One 9 Five Asoke-Rama 9, KnightsBridge Space Rama 9, and Condolette Midst Rama 9, have a rental yield of approximately 3.2-5.8% per year, with rental prices starting from 12,000 to 98,000 baht per month for units sized from 22-140 square meters, from studio to 3-bedroom units. Ashton Asoke-Rama 9, with a selling price of 270,000 baht per square meter, has a rental yield of approximately 3.3-5% per year, with rental prices around 23,000-50,000 baht per month for units sized 32-65 square meters, 1-2 bedrooms.

It can be seen that condominiums with selling prices or costs at a reasonable level can also generate good returns, even if rental prices are lower. In terms of rental investment in the Rama 9 area, choosing to invest in condominiums with lower values is a good option.

NUE Epic Asok - Rama 9: A New Condominium in the Heart of Rama 9

NUE Epic Asok - Rama 9 is a high-rise condominium on a project area of over 15 rai, under the concept of ‘EPIC HAPPINESS AWAITS’, serving as a new center of happiness that truly meets every aspect of urban lifestyle through four main axes:

1. EPIC LOCATION: The project is located on Asoke-Dindaeng Road, near MRT Rama 9, just 420 meters from the Rama 9 Intersection and Central Rama 9 shopping center.

2. EPIC LIFESTYLE: Situated in the heart of a new business district, surrounded by comprehensive amenities that cater to urban lifestyles, including leading office buildings, shopping centers, supermarkets, hotels, hospitals, educational institutions, trendy restaurants, cafes, and various entertainment venues.

3. EPIC FACILITIES: A large garden and over 11 rai of common areas, the largest in the NEW CBD zone, with over 22 functions, including three large swimming pools, one dedicated pet pool, a Sky Lounge & Bar, fitness center, co-working space, entertainment room, dance studio, and golf simulation.

4. EPIC DESIGN & FUNCTION: The project features a pet-friendly building with specific facilities for pets, such as a pet pool, pet park, and pet salon. The layout is designed to have wide front-facing units, creating a spacious and airy feel, with diverse usable spaces ranging from 1-3 bedrooms, with a maximum usable area of 100.80 square meters, suitable for singles, couples, or families.

NUE Epic Asok - Rama 9: Large Common Area of 11 Rai, the Largest in the NEW CBD Zone

The project is designed to include green spaces and common areas in every building, totaling over 22 functions and more than 11 rai, catering to all lifestyle needs, including a panoramic view swimming pool with three large pools, each up to 50 meters long, a Sky Lounge & Bar with a city skyline view, a co-working space in a creative atmosphere, and also features an entertainment room, dance studio, golf simulation, game room, co-kitchen, and special areas for pets, such as a pet pool, pet park, and pet salon. Another highlight is the green space covering the entire project, over 13,000 square meters, allowing you to own a green lung in the heart of Rama 9, designed under the concept of “Terrainscape”, which integrates and connects the green gardens of each building together, creating an oasis for residents to relax amidst nature and a calming atmosphere.

Exploring the Functions of NUE Epic Asok - Rama 9

The units are designed with practical space usage in mind, clearly dividing areas and functions to create a spacious and comfortable environment, with wide front-facing layouts in every unit. There are various unit types to meet all lifestyle needs.

Starting with the 1 Bedroom units sized 26 - 30.50 square meters, available in two styles: the M type features an open kitchen at the front connecting to the dining area and living space, creating a spacious and airy feel with natural light flooding in. The L type clearly divides functional areas, with the living area at the front, a closed kitchen attached to the balcony, and a spacious bedroom with a walk-in closet.

The 1 Bedroom Plus units sized 35.50 - 40.00 square meters feature a wide 8-meter front, with a large living area that can accommodate a dining table for four. The multipurpose room can serve as a small bedroom or be adapted into a workspace or reading area.

The 2 Bedroom 2 Bathroom units starting at 45.50 square meters are perfectly designed, with distinct areas for living, dining, and kitchen. Both bedrooms are spacious and fully functional, meeting residential needs.

2 Bedroom Plus 2 Bathroom units sized 70.20 square meters are designed with separate functional zones, suitable for families of 2-3 people, with a closed kitchen attached to the balcony to prevent cooking odors from disturbing the living space. The multipurpose room can comfortably accommodate a queen-size bed.

Additionally, the project offers a new layout for 3 Bedroom 3 Bathroom units, maximizing functionality with sizes ranging from 83.00 to 100.80 square meters. The first section features an open-plan area connecting the living room, dining table, and kitchen, catering to family living. All three bedrooms are spacious, fully functional, with the master bedroom and the second bedroom featuring en-suite bathrooms, and additional relaxation space with balconies in both the living area and bedrooms.

NUE Epic Asok - Rama 9 is a new project in the heart of Rama 9, close to MRT and Central Rama 9, featuring green spaces and over 11 rai of common areas, with unit functions that meet residential needs, suitable for both living and investment, starting at 2.69 million baht or 99,000 baht per square meter. For more details, visit https://nobleurl.com/3AZG100 or call 02-251 9955 or add LINE: @NobleDev.