Property investment in capital cities is usually the most lucrative when done as close to the city center as possible, and Bangkok is no different. It’s like the old saying: “All roads lead to Rome.”
The most central area of Bangkok is from Siam Square to the Asoke junction. If you buy-to-let property anywhere along this route you are almost guaranteed to find long-stay tenants year-round. If you are purchasing a property to live in, then you will also gain from capital appreciation; something which has been steady in Bangkok for a good many years now.
Property Options in Central Bangkok
The biggest drawback with Bangkok real estate has been the lack of property options, namely houses. The city center has always had a shortage in detached and town-house investment opportunities. For the most part, houses have either been unavailable or out of the investor’s budget. The reason house prices are so high is due to the lack of available land, caused mainly by the relentless construction of condominiums and apartments in recent years.
Consequently, between the BTS stations from Siam Square all the way up to Ekamai (middle Sukhumvit), there are almost no new Bangkok town houses or detached housing projects in which to invest. This shortage of land makes condos the favoured choice for both developers and investors alike.
In Chidlom, aka Chit Lom (just one stop east from Siam square) the condos and apartments are generally high-end and therefore command higher rental prices and good capital appreciation. As with any prime location in any major city center, the initial investment in Chit Lom is more than it is in other areas of the Thai Capital. However, given the level of demand for the location, investments here do indeed pay-off.
The Address Chidlom
One example of the quality and style of condos in the Chidlom area is The Address Chidlom. This is a beautifully designed deluxe boutique type of condominium in the art-deco style.
The Address Chidlom is a highrise condominium which consists of two towers (A and B). Tower A has 24 stories and tower B, 22, hosing a total of 597 units between them. Room options range from studio, 1-3 bedrooms. Facilities include:
- Swimming pool
- Arabic room
- Fitness centre
- Game room
- Function room
- Sauna / Steam Room
- City View
- Children’s Room / Playground
- Club House / Function Room
- covered parking
- 24-Hour Security / Closed-Circuit TV / Keycard Entry
Completed in 2010, The Address Chidlom is a well-built construction that has incorporated first-rate fixtures and fittings into the project. In fact, this is one of the few condominiums in Bangkok to feature double-glazed windows as standard.
The Address Chidlom is a fine residence. Owners who bought off-plan enjoy returns of around 5-6%, and even 4-5% if purchased today. You may notice that these rental returns are slightly down on those of other properties we have viewed in previous articles in this series. Nevertheless, this slight decrease in rental returns are largely balanced out with the capital appreciation for a property of this type.
Set in a prestigious neighbourhood within close proximity to the BTS Chidlom Skytrain station and Central Chidlom shopping complex, The Address Chidlom makes for both a good home and a decent property investment.
Asoke Junction, Central Bangkok
Moving five stations further along the BTS line from Siam Square you will find a plethora of condos in and around Bangkok’s Asoke junction. Asoke junction is not just where Sukhumvit road meets Asoke road, but also where there’s an interchange for linking the Asoke BTS (Skytrain) station with the Sukhumvit MRT (metro) line.
The Wind 23, Asoke
The Asoke area really is an important and busy central cross-road in Bangkok. There are obviously some great condos around this areas to invest in. One of the best at the time of writing is The Wind 23 condominium, also called The Wind Asoke.
The Wind 23 (so called because the design allows a breeze to circulate throughout the building) is a modern highrise condominium. There are 22 stories housing 220 individual units of one and two bedrooms, plus Penthouses on the top floors. Facilities include:
- BBQ terrace
- Children’s playground
- Comfortable sitting and waiting area
- Driveway car park
- Fitness center
- Infinity-edge swimming pool with sunken jacuzzi
- Luxury main lobby with reception counter
- Multi-purpose room
- Tennis knock board
- 24 hours security system with CCTV
Completed in 2010, these well-appointed, superbly designed, and ultra-stylish, bright condos offer luxury at reasonable prices for both the Bangkok real estate investor and the tenant. This high-rise development has a modern tropical charm with an innovative ventilation system (something quite unique to Bangkok residential condominiums).
Just 500 meters away from Asoke BTS and Sukhumvit MRT, the Wind 23 is located right in the heart of the capital, yet it’s set in a quiet spot away from the sound of passing traffic and other street noises. There is also a free tuk-tuk service available for residents. Investors here can expect returns in the region of 6-7%. This is one of the most desirable and well positioned condominiums in the area, making it a good choice for both owners and lessees.
The Quattro Condominium
Moving two stops further down the Sukhumvit BTS line we find many more quality Bangkok condos worth investing in. If you are looking to buy high-end real estate in Soi Thonglor, then The Quattro condominium by Sansiri is certainly worth consideration.
The Quattro Condominium in Thonglor is a unique highrise, two-tower complex, one of 28 stories and the other 36. There are 446 units varying in size and format. Rooms available include one, two, and three bedrooms, plus Penthouse suites. Facilities at the Quattro include:
- Chill out terrace
- Covered parking
- Fully equipped fitness room
- Garden and leisure areas
- Two swimming pools (plus a children’s pool)
- 24-hour security including CCTV and video door phone
Investing in the Quattro condominium is like investing in a Mercedes or a Jaguar motorcar. Completed in 2012, this really is a five star luxury condominium complex that just oozes opulence and style. Each floor has its own private butler plus residents have access to a fleet of limousines and drivers to use any time they want.
Living at the Quattro Thonglor is like taking an extended stay at a 5 star hotel. With a rental yield somewhere between 4-5%, a buy-to-let investment here may not produce the biggest returns, but the capital appreciation more than compensates for this. All these things and more make the Quattro Thonglor a sound investment in Bangkok’s high-end property market.
The Aequa Condominium
Our final pick for the central area is a luxurious project that opened its doors in August 2012. The Aequa is a beautifully styled residential condominium complex in the heart of Bangkok.
This is a 28 story highrise building housing 153 well thought out capacious rooms of 1-2 Bedrooms. Its modern architecture is of high international standard for stylishness and distinction. Condo facilities include:
- 130% parking capacity
- BBQ and Party area
- Fully equipped fitness room
- Garden area
- Hot spa (separate male and female)
- hydrotherapy-system swimming pool (plus Kids pool)
- Meeting room
- Onsen (Japanese hot spa),
- Pool deck
- Sky lounge
- Smart lobby
- 24-Hour Security CCTV, Keycard Entry
This condominium is very popular with Japanese occupants and despite the high rentals, it’s in very high-demand, and if you visit this building you will soon see why.
This smart new Bangkok condominium is located in the mid-Sukhumvit area of town. It is a very modern building with easy access to Sukhumvit’s Prompong and Thonglor BTS stations. It boasts superb facilities and a perfect location for city dwellers. Investing in The Aequa condominium will deliver 5-6% on rental returns, but like the Quattro Thonglor above, the capital appreciation looks set to be high.
Of course, with the sheer number of high-end, luxury condominiums on the market right now, we could analyse and praise many more of the dozens of fabulous buildings that run along the low to mid-Sukhumvit road. Furthermore, the condominium cityscape around central Bangkok is forever changing, but at the time of writing, the ones we’ve mentioned here are our top property picks of 2013/14.