Cloud Sukhumvit 23: Your Private Haven in the Heart of Asoke

If you think of the ultimate city center location bustling with activity in Bangkok, Asoke undoubtedly comes to mind first. Although TerraBKK has mentioned the Asoke area multiple times, it’s worth noting that every time we review this location, there are always new and interesting updates, just like this time.

Risland Thailand, a global real estate company that has developed several residential projects in Bangkok, has also marked its presence with a new condominium project in the Asoke area, located on Sukhumvit Soi 23 under the brand CLOUD Residences SKV 23. This high-rise condominium brand has already seen success with the Cloud Thonglor-Phetchaburi project, and just a hint of information has generated a great response.

Why is Asoke considered the 'Heart of Bangkok'?

Did you know that there are criteria for defining the roles of urban areas, ranked by density known as Transaction (T1-T6)? This classification gives character to various locations from the city center to rural areas.

In terms of location and smart connectivity (Smart Growth), Asoke is classified within the Urban Center Zone (T5), which is designed to have a high density of activities, serving as a hub for economic activities, job opportunities, and urban amenities. The Urban Center Zone (T5) is characterized by being a compact area where everything is available in one place, featuring the densest infrastructure, such as a multimodal transportation center, markets, shopping centers, hotels, office buildings, and public spaces.

5 Reasons Why Asoke is a High-Potential Location

1. A location with various modes of transportation (Multimodal Transportation Center)

For the Urban Center Zone (T5), which is designated for high density and intensity of land use, it is essential to have diverse transportation modes to accommodate the large population engaging in activities in the area. Asoke is not only an interchange for the Blue Line and Green Line sky trains but is also close to the Airport Link Makkasan. Additionally, it is intersected by major roads such as Asok Montri Road, Sukhumvit Road, Ratchadaphisek Road, and Phetchaburi Road, and can also be accessed by Khlong Saen Saeb boat.

2. A location that is walkable to amenities (Walkability)

Asoke is a smartly connected area, as it allows access to amenities, infrastructure, and job opportunities by walking. According to international standards, these places should be within a 400-meter walking distance.

3. A hub for offices and leading shopping centers

As a commercial and residential area (Urban Center Zone), it stands out for its use of shopping centers and job sources due to its high intensity of use. In Asoke, there are over 500,000 square meters of office space, with an estimated daily workforce of over 30,000 people and more than 100 companies located in this area.

Moreover, it provides convenient access to leading shopping centers, with a density of shopping areas reachable from Asoke totaling up to 1.3 million square meters, including Siam Center, Siam One, Siam Discovery, Siam Paragon, Gaysorn Village, The Em District, Central Embassy, and Terminal 21.

4. Asoke provides easy access to educational institutions

Believe it or not, in Bangkok, there are about 1,000 communities that have difficulty accessing educational institutions. However, Asoke, being in the city center, allows easy access to leading educational institutions such as Srinakharinwirot University, Demonstration School of Ramkhamhaeng University, St. Dominic School, Watthanawit School, NIST International School, and Bangkok Prep School.

5. Asoke is a location that promotes wellness

As a wellness district, it creates a happy environment for urban residents, both physically and mentally. The basic criteria for being a wellness area start with the ability to access infrastructure and amenities by walking. Within the area, one can walk or bike to create physical activity, easily access public spaces or green areas, and enjoy safety both day and night, along with good social interaction spaces. All these factors can certainly be found in Asoke.

The condominium situation in the MRT Sukhumvit - BTS Asoke area

The potential of the location mentioned above reflects its completeness, making it another The Heart of Bangkok. With a concentration of offices and important job sources in Bangkok, there is undoubtedly a demand for housing.

In the past decade, the overall launch of new condominiums around the MRT Asoke – BTS Sukhumvit area, such as Sukhumvit 12, Sukhumvit 16, Sukhumvit 19, Sukhumvit 21, and Sukhumvit 23, has seen annual unit launches in the hundreds. The initial presale prices in 2008 were around 70,000-80,000 THB per square meter, which adjusted to touch the 100,000 THB per square meter mark in 2015. Since 2017, some projects have reached presale prices of over 200,000 THB per square meter, indicating that condominiums in the MRT Asoke – BTS Sukhumvit area have experienced an average presale growth of 12.2% over the past decade.

Currently, the investment return for condominiums can be seen in both rental and holding aspects, catering to investor demand. The overall rental market in this area typically lists rentals around 570-900 THB per square meter, depending on the amenities and room size, with the following rental price ranges:

  • 1-bedroom type averages 25,000-38,000 THB per month
  • 2-bedroom type averages 45,000-70,000 THB per month
  • 3-bedroom type averages 60,000-100,000 THB per month

Overall, the rental yield for condominiums in the MRT Asoke – BTS Sukhumvit area generates an average 4.2-5.5% per year.

At the same time, besides accommodating living needs, it also serves as a property that maintains future value through condominium ownership, generating returns in the form of capital gains averaging 4.5-6.5% per year. Currently, the average listing price for second-hand condominiums in this area is around 150,000-240,000 THB per square meter.

Currently, land in the city center on Sukhumvit Soi 23 continues to attract interest from real estate developers. Recently, developer RISLAND has acquired land on Sukhumvit Soi 23 to develop a 43-story high-rise condominium named CLOUD Residences SKV23. It is reported that it will accommodate around 372 units, with room sizes starting from 29 sq.m., which is relatively rare for new condominium projects. Naturally, the smaller room sizes lead to lower total prices compared to unit prices, making it an attractive point for investors. The facilities will span three floors: the 28th, 29th, and 30th, featuring a Triple Floating Facilities concept. Additionally, the convenience of transportation is a significant highlight of this project, as it can be accessed via two routes, approximately 650 meters to the entrance of Sukhumvit 21 leading to Asok Montri Road and 650 meters to the entrance of Sukhumvit 23 leading to Sukhumvit Road. Furthermore, it is within a walking distance of about 850 meters from MRT Sukhumvit and BTS Asoke. The presale launch price is yet to be announced.

All of this highlights the appeal of Asoke Sukhumvit, a location in the Urban Center Zone (T5) that plays a central role in commerce and intensive urban utilization, leading to a demand for high-rise residential condominiums. It is no surprise that real estate developers are choosing to develop land for residential projects. The latest is a 43-story high-rise project named CLOUD Residences SKV 23 by RISLAND, which is expected to be a project that benefits both living and investment opportunities. For those interested in this project, patience is key, as details are likely to be revealed soon.

Source: RISLAND