As the year comes to a close, TerraBKK Research is here to summarize the vibrant condominium market for all our fans to read. This year, it is evident that the supply of condominiums in Bangkok has exceeded that of last year. The phenomenon of long queues to book units, as if they were being given away for free, has become a common sight. This has led the TerraBKK Research team to question, “Is the demand for condos really that high?” Or are we just imagining that condos are selling well? In reality, even before the day is over, people are already releasing their booking forms in droves. The concerning aspect is whether this supply will actually be transferred in the next 2-3 years. Not to mention the new supply that is set to come in next year... It can only be said that the condominium market is starting to show warning signs. We will have to wait and see if the situation remains as favorable at the time of transfer as it was during booking. Now, let’s summarize the overall market for condominiums in 2017, including the standout projects for the quarter.

                Starting with the first quarter, which saw a flurry of new launches as supply that had been held back from the end of the previous year was released. In the first quarter, 32 new condominium projects were launched, totaling over 13,000 units. Most of the new projects are concentrated around Sukhumvit, and in just the first quarter, we encountered three top-tier projects that we cannot overlook, so we have designated them as Terra’s Pick for Q1/2017.

            28 Chidlom is one of the “Limited Luxury Collection” projects from SC ASSET. This project is located on Chidlom Road, which is known for having the most expensive land in Thailand. Naturally, the launch price is extraordinary, at 350,000 baht per square meter.

           Supalai Oriental Sukhumvit 39 is a project that was launched at the end of last year but began sales at the start of this year. This project has excited many with its ultimate premium offering from Supalai, featuring both a prime location and product, yet at an accessible price, starting at only 4.5 million baht.

            The Reserve Thonglor 2 When Pruksa Premium launched The Reserve once again, this time in the upscale Thonglor area, it quickly sold out as expected, outpacing its competitors.

           

Moving on to the second quarter, which began to show signs of slowing down a bit, with only 19 projects launched, totaling 11,505 units. The launches were quite dispersed and not prominently visible in the city center. However, each project selected by TerraBKK has been the talk of the town for quite some time.

            Ashton Asoke-Rama9 has taken over the corner plot at Rama 9, a location deemed the New CBD. What stands out even more are the names of the two buildings, Alpha and Omega, derived from the phrase “The Alpha and Omega,” symbolizing the beginning and the end, leaving room for interpretation.

            Ideo Q Victory It is rare to see condominiums sprouting up right at the Victory Monument. Although the price is steep at 200,000 baht per square meter, it was not an issue as the competition began online and continued to the pre-sale day, where it sold out rapidly.

            VITTORIO Sukhumvit 39 is an ultimate project from AP, meticulously designed with materials personally selected by the executives, located amidst leading shopping centers like The Em District, and with an exclusive offering of only 88 units.

            As we reach the third quarter, it appears to be particularly lively, with the highest number of launches at 42 projects, totaling over 22,303 units. The area of Phaholyothin-Sena Nikhom is particularly hot (and fast?) as the extension of the green line skytrain is taking shape, directly connecting to Mo Chit. We can expect to see the vibrancy of this area continue into next year. For Terra’s Pick, we highlight projects in the city with outstanding prices and locations that have led to fierce competition, with some projects even causing heated disputes.

            Life ๑Wireless This year truly belongs to the Life brand from AP, as every launch has resulted in fierce competition for bookings. This time, in the super prime location of “Witthayu,” it has turned into a mini-war for booking units as if they were being given away for free. The launch price is indeed a return on investment for buyers, starting at only 4.9 million baht.

            Noble AROUND Sukhumvit 33 was launched around the same time as Life ๑Wireless, but in the Mid-Sukhumvit area, closely following Noble BE33. What stands out is the well-planned layout that maximizes space. It must be acknowledged that this time, Noble has done their homework well.

            The Loft Silom is one of the projects that TerraBKK Research views as catering to real demand, with a location on Sathorn, spacious units suitable for living, and an environment conducive to the lifestyles of the city’s affluent. All of this has allowed Raimon Land to capture real demand in Silom-Sathorn effortlessly.

            Finally, in the last quarter of 2017, 28 new condominium projects were launched, totaling over 12,000 units. In this final quarter, there were not many high-end condominiums visible, and we began to see projects around Ramkhamhaeng-Minburi, as well as projects around Rama 3 that had been dormant for a long time, revived by LPN with two projects. However, the standout projects this quarter seem to be condominiums by the river and near the river. Therefore, TerraBKK Research has selected two projects near the Chao Phraya River and one project from Sansiri in the Sathorn area.

            Banyan Tree Residence Riverside Bangkok is a super luxury condominium located near Klong San, right by the Chao Phraya River. Not only do you get to own a luxurious unit with a view of the river, but you also receive five-star service from Banyan Tree.

           Supalai Premier @Charoen Nakhon must be noted as the first occurrence of a queue for bookings from Supalai, where the number of people waiting exceeded the number of available units! With a location adjacent to Klong San Station (Gold Line) and a price that is considered very low for this location, starting at 3.1 million baht, or only 90,000 baht per square meter.

          The Line Sathorn This time, The Line has ventured into the CBD area of Silom-Sathorn and sold out effortlessly. The Line Sathorn is packed with innovation, and what’s special is that this project does not have a sales gallery but features a pop-up café, allowing visitors to experience a relaxed atmosphere without feeling overly pressured to buy. - TERRABKK

Article by: TerraBKK Investment Tips

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