Soi Thonglor Resists Financial Obscurity
Thonglor is starting to show up as the area of utmost competition in Bangkok for luxury condominiums.
Neighboring the 2 km stretch of Soi Thonglor (Sukhumvit 55), no lesser than 7 luxury condominiums with a united market value of approximately Bt20 billion are rising in the direction of their place in the city's skyline. And in spite of anxiety about plunging demand for condominium units in the capital's wider property market, the least-costly patches of perpendicular living in Thonglor are presently selling for Bt90,000-Bt150,000 per square meter.
Subsequent to the primary impact of the global financial recession on Thailand's property market in the final quarter of 2008, a few developers changed their product variety, choosing low-rise developments that are fast to build and deliver returns in a few months. Others, although, remained certain of abiding demand for high-rise luxury living, maintaining that location - rather than cost - would make the difference in 2009 between accomplishment and miserable sales.
Sansiri's president Srettha Thavisin said there was long-term strong demand in Thonglor regardless of prospects of only slender financial growth in 2009. In only three weeks since the starting of January, Sansiri has accomplished something in preselling units at Quattro of value almost Bt3 billion. The project's total value is approximately Bt5 billion.
Seita Hagiwara, managing director of Sikhara Kotobuki Property, a joint project between Japanese-owned Siam Kotobuki and Thai investors, said his company had determined to build its condominium project, Villa Sikhara, at Soi Thonglor 25 for the reason that the company could observe strong demand in the location, mainly from Japanese investors.
The project has by now sold 60% of its 64 units, which are priced between Bt98,000-Bt104,000 per square meter. Nearly all of its consumers are investors who are purchasing for rental reasons. The company has laid down a rental price of Bt600 per square meter for units at Villa Sikhara, making a monthly rental income of Bt45,000-Bt60,000.
Neighboring the 2 km stretch of Soi Thonglor (Sukhumvit 55), no lesser than 7 luxury condominiums with a united market value of approximately Bt20 billion are rising in the direction of their place in the city's skyline. And in spite of anxiety about plunging demand for condominium units in the capital's wider property market, the least-costly patches of perpendicular living in Thonglor are presently selling for Bt90,000-Bt150,000 per square meter.
Subsequent to the primary impact of the global financial recession on Thailand's property market in the final quarter of 2008, a few developers changed their product variety, choosing low-rise developments that are fast to build and deliver returns in a few months. Others, although, remained certain of abiding demand for high-rise luxury living, maintaining that location - rather than cost - would make the difference in 2009 between accomplishment and miserable sales.
Sansiri's president Srettha Thavisin said there was long-term strong demand in Thonglor regardless of prospects of only slender financial growth in 2009. In only three weeks since the starting of January, Sansiri has accomplished something in preselling units at Quattro of value almost Bt3 billion. The project's total value is approximately Bt5 billion.
Seita Hagiwara, managing director of Sikhara Kotobuki Property, a joint project between Japanese-owned Siam Kotobuki and Thai investors, said his company had determined to build its condominium project, Villa Sikhara, at Soi Thonglor 25 for the reason that the company could observe strong demand in the location, mainly from Japanese investors.
The project has by now sold 60% of its 64 units, which are priced between Bt98,000-Bt104,000 per square meter. Nearly all of its consumers are investors who are purchasing for rental reasons. The company has laid down a rental price of Bt600 per square meter for units at Villa Sikhara, making a monthly rental income of Bt45,000-Bt60,000.
Labels: condominium project, Monthly rental income, Thailand's property market
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