Originally scheduled for completion this month, the Vista Garden's Tower 1 is running a little late, but only just.

Its buyers are probably relieved to see the 16-floor structure nearing completion. Sales staff expect an August or September completion.

In a market where buying "off-plan" projects, or real-estate units on paper, can be a harrowing experience, Vista Garden has demonstrated it can deliver its products more or less within an acceptable time frame.

Meanwhile, prices of its units have almost doubled.

Today, the firm is charging Bt2.99 million for the smallest 47-square-metre one-bedroom unit on the lowest floors. That comes to more than B60,000 a square metre.

Originally, a one-bedroom unit went for Bt1.67 million, or Bt35,000 a square metre, less than two years ago.

The first tower is almost sold out, said sales staff. The 22-floor Tower 2, which shares a podium with Tower 1, is about one year away from completion.

The project houses 285 mid-end condominiums on a 3-rai plot. The developer owns other plots, and there is a possibility more towers may go up in the area if this project proves successful.

With its current price tag, Vista Garden is today one of the more expensive projects beyond Sukhumvit Soi 63 (Soi Ekamai), a border many realty firms use in separating prime inner-city sites from the less-exclusive outer suburbs.

Heavy competition has been seen in the past year in these outer areas, such as Sukhumvit Soi 77 and Soi 101/1. These sites sell units for far less: less than Bt1.6 million for a one-bedroom. They are being offered by LPN, Supalai and Plus Property Partners.

Considering that Vista spends frugally on marketing expenses, the margins it commands appear hefty.

It has hired Harrison Realty Agency to provide a professional sales team that is competent, courteous and informed, which should help its image.

Visitors will note that its location is tucked deep inside a low-income community with a bustling market area forming an anchor for residents.

As such, it is quite common to find people going about in pyjamas in broad daylight, shopping for sundries and food from street vendors.

But unlike the horrid tourist area of lower Sukhumvit, the vendors here tend to be more orderly, and thus littering and foul garbage, at least during a recent visit, is almost non-existent.

Still, Vista Garden is quite a distance to get to on foot. If home-buyers are going by car, it may be better to use the back way, cutting off from the Phra Khanong Bridge, veering left and turning left again before the tollgate.

Traffic congestion here is chronic, but compared with the horrendous daily jams in Sukhumvit Soi 62 and Soi 101/1 and Soi 103 (Soi Udomsuk) or the Prompong, Asoke and Nana areas, it is not much worse.

There are two models available at the site: a one-bedroom (47 square metres) and a two-bedroom (74 square metres).

Current prices for a one-bedroom include a kitchen set and two air-conditioners, but no built-in or free-standing furniture. The first three floors of the building are a carpark, but buyers are not assigned fixed parking spaces.

Recreational facilities are on the third floor and include a swimming pool and clubhouse.

Itthi C Tan

The Nation