In 2017, Bangkok was ranked as the most visited city by international tourists, topping the list of 132 cities worldwide according to the Global Destination Cities Index by CNN. This is due to Bangkok's unique blend of diversity, charm in each district, and the rich culture of the Thai people.

          Charoenkrung Road is another road that marks the beginning of cultural and economic prosperity that continues to influence the present day. Not only is Charoenkrung the first road in Thailand, but it also served as the initial area for modern urban development. In 1910, the development of shophouses, markets, and rail systems began, making it the central business district (CBD) of Bangkok at that time, comparable to the modern Silom-Sathorn area today.

          The Charoenkrung area, despite being located in the heart of the city and just a moment away from Silom-Sathorn, still shines with modernity and contemporaneity, embodying the charm of Bangkok. Currently, there are plans for development from various agencies that will transform Charoenkrung into Bangkok's first Creative Business District.

From an Old Economic District to a Creative District

          According to the The Revival of District report by TCDC, over 70% of new businesses in the past year were restaurants and beverage shops with unique designs and menus. More than 50% of new investors are Europeans, particularly from France and Italy. Additionally, 85% of new businesses are located in old buildings such as factories or warehouses, which have been renovated while retaining their original structures. This clearly indicates that Charoenkrung is becoming a lifestyle hub, enriched by architecture, culture, and the unique characteristics of Bangkok's historic prosperity.

          The Creative Design Center (TCDC) in collaboration with the Health Promotion Foundation (HPF) has initiated the Co-Create Charoenkrung project, making Charoenkrung a model for contemporary development to attract more tourists, investors, and entrepreneurs. This is highlighted by the development of mixed-use spaces combining traditional commerce with creative business, evident in how Charoenkrung has become one of the most vibrant creative lifestyle hubs in Bangkok, featuring places like River City Bangkok, Warehouse30, and TCDC. Nearby, there are also The Jam Factory, LHONG1919, and Chang Chui.

          In addition to commercial development, there are also five projects from TCDC focused on improving the Charoenkrung area, including riverside area development, repurposing unused buildings, small green space development, alleyway connectivity, and signage design projects, all showcased during Bangkok Design Week 2018 throughout the Charoenkrung area.

A simulated atmosphere of the creative Charoenkrung district

Connecting the Business Districts of Silom and Yaowarat

          TerraBKK views the Charoenkrung area as a link between the traditional economic districts and modern businesses, namely Silom and Yaowarat. The Charoenkrung area serves as a residential area for the population of Yaowarat due to its dense commercial activity and limited development opportunities due to zoning regulations, leading to a shift in residential options to Charoenkrung.

          Another interesting aspect of Charoenkrung is that in 2019, the blue line subway from Hua Lamphong to Tha Phra will be operational, providing access to two subway lines: the green line (Taksin Bridge Station) and the blue line (Wat Mangkon Station). The unique feature of Wat Mangkon Station is its design, which combines Chinese and European (Sino-Portuguese) architectural styles to align with the lifestyle and trade practices of the Chinese community, making it one of the four most beautiful subway stations in Thailand.

Images from facebook.com/bkktrains

          Additionally, there has been an increase in commercial investments along the Chao Phraya River, starting with the ASIATIQUE The Riverfront project, followed by Yodpiman River Walk and The Landmark Waterfront, diversifying the lifestyle options along Charoenkrung and making it an important area in Bangkok. Furthermore, there are ongoing government-led development projects along the Chao Phraya River, with Charoenkrung covering six area design projects, leading us to expect that Charoenkrung will soon regain its vibrant past.

          From the development plans by both public and private sectors, it is evident that there is a cluster of development projects in the Charoenkrung Soi 20-64 area. TerraBKK divides the Charoenkrung area into two parts: the early and late Charoenkrung, as shown in the map below, separated by Chan Road.

          When we divide Charoenkrung into two sections, we find that most condominiums are being developed in the late Charoenkrung area rather than the early section, making condominiums in the early Charoenkrung area a rare find, with new launches occurring only every 3-4 years and in limited quantities. This contrasts with the continuously rising prices. For anyone looking for a condominium in the Charoenkrung area, the “early Charoenkrung” zone is particularly appealing and suitable for living.

Second-hand condominium prices are growing by over 8-15% per year

          The first point of interest regarding why it should be the “early Charoenkrung” is that it is evident that the prices of second-hand condominiums in the market have increased significantly by 8-15% per year. Currently, second-hand condominiums are selling for around 160,000 baht per square meter, while in the late Charoenkrung area, second-hand condominium prices have risen by about 4-12% per year, with current selling prices at around 100,000 baht per square meter. This clearly highlights the advantages of the “early Charoenkrung” location, which allows easy access to “Silom-Sathorn,” a key factor driving up capital gains or resale prices.

Act quickly to own a piece of this rare opportunity

          As mentioned earlier, the supply of early Charoenkrung condominiums is limited, with new launches occurring only every 3-4 years. The graph below shows that the number of units or new supply launched each year has been decreasing, with fewer than 500 new units launched annually over the past 3-4 years, while the prices of new projects continue to rise.

          A prime location is not only measured by price growth... The limited supply entering the market makes existing properties more valuable, leading us to assert that condominiums in the early Charoenkrung area are “rare gems that are not often available; act quickly to secure one.”

Currently, we recommend the condominium project "The Room Charoenkrung 30" that is still available for sale in the early Charoenkrung area.

“The Room Charoenkrung 30”: The Ultimate Location on Charoenkrung Road

          Most condominiums in the early Charoenkrung area are older projects that have been around for over 5 years. The The Room Charoenkrung 30 project is one of the few remaining projects in the early Charoenkrung area, with only 211 units available on over 1 rai of land, surrounded by the warm lifestyle of Charoenkrung residents.

          The project features complete and convenient amenities that cater to all needs. Besides the comprehensive facilities, The Room Charoenkrung 30 has designed spacious rooms for comfortable living, offering two types of units: a 1-bedroom type ranging from 53.75 to 63.50 sq.m., and a 2-bedroom type ranging from 57.55 to 85.50 sq.m.

For more project details, click >> https://goo.gl/ncTNxd  or call 1198

In addition to "The Room Charoenkrung 30", there are a total of 3 condominium projects still available for sale in the early Charoenkrung area.