The wait is over! The Yellow Line Skytrain, from Ladprao to Samrong, officially opened in July 2023, bringing anticipated changes to the areas along its route. Notably, the Srinakarin - On Nut area stands to benefit the most from this new transit line.

The Yellow Line is a tangent line that does not cut through the city center but connects various districts and other skytrain lines. Each station along the Yellow Line passes through large, continuously growing residential communities in Bangkok. TERRABKK identifies the Srinakarin - On Nut zone as one of the standout areas benefiting from the Yellow Line for the following reasons:

Analysis of the Yellow Line Route and Location

The Yellow Line from Ladprao to Samrong is classified as a tangent line that does not run through the city center or radiate outward but instead provides access to areas with high travel demand, focusing on connecting residential zones with key locations. Essentially, it enhances the potential for commuting in residential areas (Extend Urban Residential Area). The locations along the Yellow Line can be categorized as follows:

  • Ladprao - Bangkapi - Lamsalee Zone

This zone is densely populated but has only a few main roads, making access challenging and often leading to traffic issues. The Yellow Line will significantly ease travel in this area.

The Ladprao - Bangkapi - Lamsalee Zone is a highly developed residential area with a wealth of amenities for lifestyle and public utilities. It also features a sub-central area at the Lamsalee intersection, which is an interchange for the Orange Line skytrain. In the future, this area is expected to accommodate the expansion of residential properties, transitioning from predominantly low-density housing (yellow) to high-density housing (orange).

  • Phatthanakan - Srinakarin - On Nut Zone

The Phatthanakan - Srinakarin - On Nut zone is designated for the expansion of residential areas (Extend Urban Residential Area) and has been well-developed for a long time. According to the Bangkok Master Plan 2013, this zone has already been categorized as a medium-density residential area (orange) and is set to expand further in the future, similar to the Ladprao - Bangkapi - Lamsalee Zone.

The Phatthanakan - Srinakarin - On Nut Zone features a mix of low-rise and high-rise residential developments, resulting in a higher density of land use compared to other areas along the Yellow Line. It also boasts a comprehensive range of amenities and serves as a central hub, with shopping centers, educational institutions, large parks, hospitals, and convenient access to the business district.

  • Udomsuk - Thepharak - Samrong Zone

This zone marks the boundary between Bangkok and Samut Prakan, serving as a rapidly growing area for new residential developments that blend low-rise and high-rise living. It also features various lifestyle hubs scattered throughout the area, catering to residents working in the Sukhumvit and Samut Prakan areas, with easy access by private car.

Why Srinakarin - On Nut is the Most Complete Location

Considering the completeness of the area in terms of transportation, lifestyle amenities, job opportunities, public spaces, educational institutions, and hospitals, it becomes clear that Srinakarin - On Nut is the most comprehensive and livable location.

  • Accessibility: Aside from the Yellow Line, which enhances the residential area in the suburban zone, traveling in the Srinakarin - On Nut area is convenient by private car, connecting to several main roads leading to business districts, including Srinakarin Road, Sukhumvit 77, Phatthanakan Road, Udomsuk Road, and Bangna-Trad Road. Additionally, the Burapha Withi Expressway and Si Rat Expressway are also viable travel options.
  • Large Lifestyle Amenities: The area is well-equipped with lifestyle and shopping facilities, covering over 1 million square meters, including shopping centers, community malls, hypermarkets, wholesale centers, neighborhood malls, and markets.
  • Workplaces: Most jobs in the Srinakarin - On Nut zone are in company headquarters and factories, with several office buildings available for rent, totaling approximately 120,000 square meters of office space.
  • Public Spaces: Residents have superior access to green spaces compared to other zones, with King Rama IX Park, a large public park spanning 500 rai, being the largest in Bangkok.
  • Educational Institutions: The area has over 60 educational institutions, serving more than 40,000 students across all levels of education from early childhood to higher education.
  • Hospitals: The area is home to several large hospitals, including Panya Hospital, Vibhavadi Hospital, Samitivej Srinakarin Hospital, Sirindhorn Hospital, and Sikarin Hospital, with a total of over 700 beds.

Why Srinakarin - On Nut is Attractive for Condo Living

Although the overall picture of the Srinakarin - On Nut zone is that of a residential expansion area with a mix of low-rise and high-rise developments, the remaining land for development is continuously increasing in price, making low-rise housing relatively expensive.

Conversely, searching for condos in this area becomes an appealing option, as it offers a comprehensive livability factor across all dimensions. It is particularly convenient for those who already work and live in the area, as it provides ease of travel by private car. The introduction of the skytrain further enhances commuting options.

Growth of Condominiums in the Srinakarin Area

The growth of condominiums in the Srinakarin area has been relatively modest in the past, with an average of only 1-2 new projects launched each year. However, since the construction of the Yellow Line began in 2019, developers have increasingly focused on this area. Currently, there are 7 projects available for sale, with prices ranging from 60,000 to 77,000 baht per square meter. The change in presale prices compared to current prices has grown by an average of 4% per year. The price growth is not particularly high compared to other skytrain areas, as most residents in this zone already use cars or live nearby. Therefore, the introduction of the skytrain has not dramatically increased condo prices, making them relatively accessible.

Recently, a new project is set to launch in this area, with starting prices around 1.65 million baht, which includes furniture, appliances, and curtains, making it an affordable option with manageable monthly payments.

Investment Potential for Renting Condos in the Srinakarin Area

Rental prices for condos in this area vary based on the type and size of the unit. The average rental rate for studio apartments ranges from 6,000 to 9,000 baht per month, while one-bedroom units range from 7,000 to 13,000 baht per month, and two-bedroom units average between 10,000 and 22,000 baht per month.

The average return on investment for condos in this area is between 4.8% and 6% per year. With condo prices in this location being relatively low, typically under 2 million baht, combined with reasonable rental rates, the yield from renting condos in this area is quite favorable.

Srinakarin Condos with an Average Capital Gain of 4% per Year

For those holding condos in Srinakarin, the asking prices for second-hand units range from 60,000 to 82,000 baht per square meter. Prices increase annually, with a capital gain averaging 4% per year (for condos less than 10 years old). Anyone who purchased a unit for personal use can potentially profit from selling it in the future.

In conclusion, it is undeniable that Srinakarin - On Nut is emerging as a new hub for the Yellow Line skytrain. Compared to the Ladprao or Samrong zones, Srinakarin offers a highly livable environment with convenient access to expressways and main roads, as well as proximity to new business areas like Sukhumvit. The potential and completeness of this location make life here very convenient. For anyone considering a condo, the Srinakarin - On Nut area is a valuable option for both living and investment.