The overview of the real estate market in 2021 has been impacted by the COVID-19 pandemic, causing a slowdown in both horizontal housing and condominium projects. This is due to consumer uncertainty regarding property purchases stemming from concerns about the economy, fears of a worsening pandemic, and reduced incomes, leading to longer decision-making times for home purchases. Additionally, the purchasing power of foreigners has decreased due to the country's lockdown. However, there are now positive signs indicating that the real estate market is beginning to recover from the easing of lockdown measures, allowing foreigners to enter Thailand and the Bank of Thailand's temporary relaxation of LTV measures for second homes and beyond. These measures have boosted consumer confidence, enabling quicker decisions to purchase properties, along with an influx of foreign buyers.

          For Thailand's economy next year, the Bank of Thailand believes that the main factors for economic recovery will be effective vaccination to control the pandemic and the relaxation of containment measures, which will positively impact private sector confidence. Furthermore, in 2022, the Thai economy is expected to gradually recover from domestic spending driven by increased consumer confidence, although the number of foreign tourists will slowly rebound, and exports will continue to be affected by container and semiconductor shortages. The labor market is showing signs of improvement, with income in the service sector and self-employed individuals recovering alongside economic activities.

          According to research by TerraBKK on "Consumer Confidence in Purchasing Real Estate During COVID-19," it was found that when looking for housing today, the key factors influencing property purchase decisions are affordable property prices, good locations that meet lifestyle needs, and seeking projects with good promotions, freebies, and waived fees. There are numerous condominium projects that cater to consumer needs, one of which is Chambers On Nut Station, located in a prime area that meets lifestyle needs in On Nut. Many may wonder why it should be Chambers On Nut Station; today, TerraBKK has the answer.

“On Nut”: A Prime Location Ready for Every Lifestyle

          When discussing “On Nut,” a hot spot in the lower Sukhumvit area, it must be said that it is an extremely convenient location for transportation. Being adjacent to the main BTS line allows for quick connections to important business districts (CBD) such as Silom-Sathorn and Siam-Ploenchit, reaching the city center within 25 minutes. It is also just three stations away from high-end lifestyle areas like Thonglor-Ekkamai. Traveling by car is equally convenient, connecting to various major roads including Sukhumvit, Rama 4, and Srinakarin, as well as being close to expressway entrances and exits for easy access to the city center and northern Bangkok.

          In addition to transportation facilities, “On Nut” is surrounded by lifestyle hubs that cater to every aspect of living. From hypermarkets like Big C and Tesco Lotus to shopping centers like Century Movie Plaza and Gateway Ekkamai, as well as community malls such as The Phyll, Habito Mall, and People Park. The Sukhumvit 77 alley is filled with countless restaurants, cafes, bakeries, buffets, etc., making it a rich area where one can live fully in one place.

          Additionally, this area boasts other essential amenities for a complete lifestyle, including leading hospitals like Sukhumvit Hospital and Kluaynamthai Hospital, as well as international schools such as Bangkok International Preparatory (Bangkok Prep), Wells International School, Anglo Singapore International School, and Centurion International School.

A Prime Location Ready for Job Expansion

          The expansion of the lower Sukhumvit zone makes “On Nut” another residential area ready to accommodate job growth. Currently, there are numerous job sources in the area, such as M Tower, Bangchak Corporation, Samakkhi Pharmacy Building, and many small office buildings. A little further out, there are larger office buildings like True Digital Park Phase 1 and 2, and Bhiraj Tower @BITEC.

          In the future, this lower Sukhumvit zone will see various job sources entering the area, including mixed-use projects like Intanin Mansion & Tower, located near BTS On Nut, which will comprise hotels, office buildings, and retail spaces, as well as Nailert Bangchak, Sukhumvit Hills, 66 Tower, and mega projects like Bangkok Mall.

          On Nut is also close to another mega project, the development area around the Bangkok Port (Khlong Toei), a new commercial center along the Chao Phraya River, covering an area of 2,253 rai, with development divided into three zones: Commercial Zone, Core Business Zone, and Bangkok Modern City, a complete mixed-use tourist destination. Currently, the project is in the design study and EIA preparation phase.

          Once these projects are completed, they will enhance the potential of the area, turning it into a new business district, leading to job expansion and attracting significant demand to the area.

Land Price Growth Indicates On Nut's Growing Potential

          From the assessed land prices on Sukhumvit 77 or On Nut Road in the current year (2016-2019), there has been a remarkable growth of 83%, reaching 220,000 baht per square wah, compared to the previous years (2012-2015) where the assessed price was between 45,000-120,000 baht per square wah. The significant growth in assessed land prices is a strong indicator of the potential of the On Nut area, given its comprehensive amenities, convenient access to the city, and job expansion.

          The On Nut area shows no signs of stopping. With mega projects and future job sources entering the area, the potential of On Nut is sure to continue growing.

The Condominium Market Situation in On Nut

          A survey of the current condominium prices in the Sukhumvit zone reveals that “On Nut” has the lowest average price of approximately 126,000 baht per square meter. Although it is a city-adjacent location, the market price in this zone is lower than in areas further out like Bangjak and Punnawithi. In terms of value for living or investment, it can be said that this zone is very attractive due to its lower prices compared to other areas along Sukhumvit, while the amenities and richness of the location are not significantly different. If necessary, residents can easily take the BTS to access facilities in other zones just a few stations away.

          The investment potential for condominiums in this area is quite good, as it is close to the city, with a short travel time to the city center, and rental prices that are not as high as in other locations. The rental yield averages between 4.5%-7%. Average rental prices for studios range from 9,000-12,000 baht per month, 1-bedroom units from 10,000-18,000 baht per month, and 2-bedroom units from 20,000-45,000 baht per month. Condominiums in the On Nut area generate an average capital gain of 4-6%, with resale prices averaging between 90,000-140,000 baht.

Live Urban Life with Chambers On Nut Station: A Condominium That Feels Like Home

          If we define the word “home,” many would say that home is happiness, tranquility, and the freedom to relax. However, having a home in the city can be a limitation for many. It would be better to look for a city-adjacent condominium that provides a feeling of being at home. Chambers On Nut Station is the answer to a condominium that truly feels like home.

          A Cozy Place for Living The project design creates a home-like atmosphere surrounded by nature, allowing residents to interact within green spaces. The lush environment feels like a stroll in a garden at home, with complete amenities including a swimming pool, fitness center, library, and green areas for relaxation.

          Cozy Design Just Like Home The design is inspired by homes in the heart of Sukhumvit, providing a home-like feel with a cool, pleasant atmosphere. The decor style features soothing colors to ensure residents feel as if they are relaxing in their own home.

          The majority of the units are designed with wide layouts, allowing for functional separation of spaces. The usable area can be adapted to every function according to the residents' lifestyles, and there is also a closed kitchen design for those who enjoy cooking.

         Chambers On Nut Station is a condominium that feels like home, situated in a prime location that is fully equipped for living. This condominium offers the best value in the area, with prices lower than other projects in the vicinity, starting at 2.99 million baht or 115,000 baht per square meter. Additionally, the project is conveniently located just 230 meters from the BTS On Nut station.

Buy Today, Get 3 Free Promotions #Buying is Better than Renting

Promotion 1: Live Free for 1 Year* 

Promotion 2: Free Appliances* 

Promotion 3: Free Complete Furniture*

Reserve with just 5,000 baht and move in immediately, no down payment, 100% financing available*

Register for an additional discount of 300,000 baht* at https://bit.ly/30YoXVF

For more details, call 065-719-5328 or Line: @chambersonnut

*Conditions apply as per each bank's regulations.