Chananthorn Development Group sees the future of the Rama 2 area as the most desirable location in the Thonburi district. They are closely monitoring next year's new land and property appraisal prices, which are expected to surge due to government-supported projects. The company has announced plans to invest and move forward with horizontal projects in three key locations: the Kanchanaphisek-Rama 2 intersection, Kalapapruek, and Bang Bon - Ekkachai 139.

Ms. Sirinya Ruangpanyawut, Managing Director of Chananthorn Development Group Co., Ltd., a property developer of single houses, townhomes, and condominiums in Bangkok and its vicinity, revealed that the real estate market along Kanchanaphisek-Rama 2 is considered the most livable area in Thonburi. It has significant potential for further growth due to its high-quality amenities that enhance living standards, making it suitable for long-term residence. Meanwhile, land and property prices in the area continue to rise annually, especially at the beginning of Rama 2, where prices have escalated to the point that horizontal projects can no longer be developed.

It is anticipated that in 2023, the Kanchanaphisek-Rama 2 area will be among the top beneficiaries of the newly announced appraisal price increases. Recently, the Director-General of the Treasury Department confirmed that a new land and property appraisal list for 2023-2026 will be implemented on January 1, 2023, with an overall average increase of 7-8% due to the potential of the Rama 2 area, which is conveniently located near the city and well-connected to multiple road and expressway networks, allowing for easy access to the city center in just 20 minutes to Sathorn.

The Rama 2 area also benefits from numerous future government investment plans, including road and expressway expansions, the Rama 3 – Dao Khanong expressway, the outer ring road of Bangkok on the western side, and the Bang Khun Thian-Ban Phaew motorway, both of which are under construction and expected to open in 2024. Additionally, the Department of Highways is expanding traffic lanes to 14 lanes and constructing the Mahachai New City elevated road, along with a suspension bridge across the Chao Phraya River at the beginning of Rama 2.

“The Rama 2 area is well-known and has shown clear growth over the years. It has been one of the government’s investment zones, particularly in transportation, with several projects currently under construction. Future projects include the southern Purple Line electric train from Tao Poon to Rat Burana, which is in the surveying phase and expected to be operational by 2027. Government investments will further establish Rama 2 as a significant travel hub in Bangkok, greatly enhancing the area's potential,”

Ms. Sirinya stated that in 2023, the company aims to intensively develop residential projects to meet the needs of various customer segments, planning to cover all segments with prices ranging from 4.9 to 29 million baht, with a distribution of 40% single houses, 40% duplexes, and 20% townhomes. Currently, there are lands awaiting new project developments in three areas: the Kanchanaphisek-Rama 2 zone, the Kalapapruek zone, and the Bang Bon - Ekkachai 139 zone.

Currently, the Rama 2 area remains a popular location for horizontal residential projects among homebuyers due to its quick access to the central business district and comprehensive amenities compared to other suburban areas of Bangkok.

The company has over three residential projects in the Rama 2 area, including MOTTO Kanchana - Rama 2, a modern duplex project located at the Kanchanaphisek - Rama 2 intersection valued at 1.6 billion baht, and the PE:LA condominium in Wutthakat, just 100 meters from the BTS Wutthakat station, valued at 475 million baht. Another project, BE-MOTTO Kanchana - Rama 2, features luxury single houses at the Kanchanaphisek - Rama 2 intersection, valued at 900 million baht, with only two units remaining and plans to close the project within the fourth quarter of this year.