Looking back over the past 4-5 years, the prominent and continuously growing area is undoubtedly the northern Bangkok zone. Since the green line extension (Mo Chit-Khukhot) began to take shape and was completed for public use last year, we have seen developers continuously entering the market with various projects. The potential of the extended subway line, which directly connects without needing to change lines to the main subway line, serves as the heart of transportation for Bangkok residents, makes this location still attractive to developers and continues to attract further development.

One of the hottest neighborhoods in northern Bangkok is 'Phahol-Kaset', characterized by its vibrant residential atmosphere due to its proximity to large universities. It is also a large residential area equipped with numerous amenities. This neighborhood is thus considered a 'fertile location filled with lifestyle options for city dwellers', making it another area in Bangkok worth watching.

'Phahol-Kaset': A Potential Location Connecting the City for Convenient Travel

'Phahol-Kaset' has a key transportation junction at Kaset Intersection, which connects important roads such as Ngamwongwan Road, Prasertmanukit Road (Kaset-Nawamin), and Phaholyothin Road, which are major routes leading into the city center and out to other provinces in the north. Additionally, it connects to other locations via Vibhavadi-Rangsit Road, Ratchadapisek Road, Ladprao Road, and Prachachuen Road, making it a hub for travel throughout Bangkok.

Moreover, it is close to the Sirat Expressway, which connects to the central business district (CBD) areas like Silom and Sathorn, as well as the Don Mueang Tollway for easy access to Ploenchit, Chidlom, and Sukhumvit. With various roads and expressways connecting, traveling in this area, whether by private car or public transport, is extremely convenient.

Seamless Travel with Multiple Subway Connections

At this moment, it can be confidently stated that 'Phahol-Kaset' is another location with significant travel potential, surrounded by various subway lines. This includes the green line extension, which directly connects to the main green line (Sukhumvit), passing through the city center and important business districts of Bangkok.

Additionally, the red line (Bang Sue-Rangsit) is currently in trial operation and is expected to be fully operational by December this year. This line will enhance the convenience of traveling to and from the suburbs, including easier access to Don Mueang Airport. In the future, the brown line (Krairai-Lamsali) will also pass through 'Phahol-Kaset', with the latest progress currently under environmental impact assessment (EIA). Once completed, this route will further enhance seamless travel for residents in this area.

Moreover, it is not far from the connection point to the pink line (Krairai-Minburi), which provides convenient travel from the western to the eastern parts of Bangkok, and is also close to the main interchange point of the blue line (Ring Line), which runs around the city connecting to important locations in Bangkok.

'Phahol-Kaset': A Fertile Area Comparable to the City Center

The distinctive character of Phahol-Kaset is that it has long been a large residential area, coupled with a significant student population. This location is thus filled with numerous amenities to support daily life. In addition to Kasetsart University and Sripatum University, this area is home to many other educational institutions, such as the Demonstration School of Kasetsart University, Sarawit School, and Wat Wannaram School. It is also close to workplaces and various government offices, such as the Government Housing Bank (head office), the Department of Land Development, the Provincial Electricity Authority (head office), SCB head office, and PTT head office. Residents can feel secure living here due to its proximity to leading hospitals like Vibhavadi Hospital and Paolo Kaset Hospital.

In the future, the Phahol-Kaset area will see Mega Projects awaiting development, including a mixed-use project that utilizes the area for various purposes, such as Ratchayothin Hills, which will consist of office buildings, hotels, a convention center, and retail space totaling 49,000 square meters, and a project by CPNxGLAND on 48 rai of land, which will include residential, office, and shopping center spaces. With these Mega Projects coming in, this area is set for a bright future as a hub for urban expansion.

A Hub of Lifestyle Options to Meet All Needs

The proximity to universities brings a wealth of lifestyle options that cater to every need. This area is filled with shopping venues, including the Amornpan Market, which features street food with many delicious restaurants like Aunt Ouan's Hainanese Chicken Rice, Muang Thong Fried Crab Rice, Sam Steak and More, etc. There are also numerous shops selling various goods. For those looking for a community mall, the Home Village project offers a variety of restaurants and buffets, including Korean and Japanese options, along with cafes and dessert shops open until 10 PM, catering to both working professionals after hours and students finishing their activities.

Additionally, it is close to large shopping centers and lifestyle malls such as Central Plaza Lardprao, Union Mall, Major Cineplex Ratchayothin, and The Avenue Ratchayothin, making it a complete solution for daily life and weekend activities.

'Phahol-Kaset': A Location with Constant Demand

The key magnet attracting demand is Kasetsart University. According to statistics on the number of students and staff at Kasetsart University (as of April 5, 2020), it can be seen that approximately 10,000 new students enroll each year, along with over 40,000 existing students and staff. This indicates a continuous influx of people living in this area. Furthermore, Terra Research believes there is a Real-Demand group moving from suburban areas to live closer to the city, including first-jobbers looking for convenient locations with lifestyle options.

The current image of Phahol-Kaset is that it is a vibrant residential market, with a constant demand for temporary housing such as dormitories and apartments for students, as well as condominiums for those seeking permanent residences. It is evident that new condominium projects continue to emerge in this area.

Growth of the Condominium Market in 'Phahol-Kaset'

Looking back at the condominium situation in this area over the past decade, it is clear that condominiums have been continuously developed. The average presale price has grown by approximately 9% per year, from an average launch price of 45,000 THB per square meter in 2007 to 90,000-120,000 THB per square meter today. With the continuous demand in this area, it can generate capital gains averaging 4-6% per year, with the average selling price of second-hand units ranging from 90,000-110,000 THB per square meter, even for older condominiums. The average rental price in the condominium market is around 300-450 THB per square meter, with monthly rents ranging from 8,000-14,000 THB, yielding an average rental yield of 5-7% per year.

Current Market Situation of Condominiums in 'Phahol-Kaset'

The overall condominium market in this area currently has prices ranging from 90,000 to 160,000 THB per square meter. The segment priced at 100,000-160,000 THB per square meter is primarily located along the green subway line and towards Ratchayothin. Meanwhile, the 90,000-100,000 THB segment is situated further away from the green subway line and amenities. It is evident that finding projects in this area priced below 90,000 THB is nearly impossible, and even the second-hand prices of condominiums in this area are almost equivalent to new prices.

Recently, a new project from Sansiri has been announced for this location, introducing a new condominium brand called THE MUVE. The first project launched under this brand is THE MUVE Kaset, starting at 1.69 million THB, with a price of approximately 71,000 THB per square meter. Those interested in owning a unit should closely follow the development of THE MUVE Kaset, as this price in this location is quite attractive.