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Mon, May 29, 2006 : Last updated 20:10 pm (Thai local time)



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Home > Business > Citypark homes buck trend





Citypark homes buck trend

Middle-class housing finds buyers amid slump

With land in the inner city areas becoming so expensive these days, more home-buyers are settling for smaller residential plots and opting for semi-detached homes.

Even with the ongoing political bickering that has mauled many businesses in Bangkok in the last four months, developers like Plus Property Partners have done well by building town houses that are a cut above others.

Their Citypark townhouse estates have seen high take-up rates at eight sites at a time when several homebuilders are reeling from the impact of inflation and high fuel prices.

You would think consumers are easing off from making big-ticket purchases like homes. But apparently, many people are eager to secure affordable units today, fearing that supplies may dry up.

There is also concern that prices are headed higher still in the coming years.

Another reason why Plus's town houses are finding favour with middle-class families is that they are better designed than most of the frugally constructed units that offer less-than-inspiring living spaces.

Plus units contain improvements from older semi-detached units that exploded in the outer suburbs a decade ago, many of which are now lying in near slum-like conditions.

The Citypark units have a grand second-floor living room with high ceilings.

One such estate that has seen a high take-up rate is the Rama 9 Hua Mark project. There are only a few remaining units available. These are all built on plots of about 21 square wah.

The three-storey units go for Bt4.3 million and provide a built-up area of 170 square metres.

The front section of the house is about 5 metres wide, large enough to park two medium-sized cars but leaving no room for small gardens.

The town-house units are constructed for the middle classes and are therefore not aimed at the more demanding upper classes.

None of the units contains a bathtub, and there are no provisions for big terraces.

The good news, however, is that Plus projects do not usually encourage speculators, as with the units priced from Bt4.3 million they are not the kind that punters want to gamble on.

Besides, buyers have to pay a two-year maintenance fee at the time of transfer.

At Bt40 a square wah, every 21-square-wah unit would require a maintenance deposit of almost Bt20,000 to be fully paid at the time of transfer.

This charge comes on top of sales taxes and fees for water meters, phone and power lines.

Completed show units are available for viewing at the site, and the sales office is open from 9am to 6pm daily.

To avoid traffic congestion, go early to escape the evening jams in Hua Mark that stretch from Pattanakan to Klong Tan and Ekamai.

Plus has other town-house projects at Ekamai-Ramindra, Kaset-Ngamwong-wan, Senam Bin Nam, Kaset-Navamin and Lat Phrao 71.

Itthi C Tan

The Nation








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