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Published on April 1, 2008

The Ratchaphruek-Nakhon-in area has become a popular choice for housing projects, due to an impressive transport network.

There are now more than 30 projects coming up around here, with about 6,000 units and a cumulative worth of Bt36 billion. This popularity has raised land prices 20-40 per cent since 2004.

A survey conducted by The Nation shows the area is especially popular for single-detached houses, because of the location's proximity to a good transportation network. It is linked to all areas west of Chao Phya River, areas to the north of Nonthaburi's Bang Bua Thong, Bang Yai and Bang Kruay districts and Bangkok's Pinklao, Taling Chan, Thawee Watthana, Bang Khae, Phasi Charoen and Chom Thong areas.

An added convenience is Ratchaphruek Road, which is located close to several main thoroughfares, making it easy to travel from one side of the river to the other.

From Ratchaphruek Road, people can take the Rama IV Bridge from Chaeng Wattana Road to Rattanathibet Road and the Phra Nangklao Bridge to Ngarmwongwan Road.

Alternatively, they can go by road from Nakhon-in Road to Rama V Road and take either Phibulsongkram Road or Tiwanon Road to get to Boromaratchachonnani Road in the Pinklao-Nokhon Chaisi area and the central business district via the Taksin Bridge. Kalapapruek Road, which links the stretch to Bang Bon, Nong Khaem and Bang Khunthien districts, is also easily accessible.

Kree Dejchai, executive vice president for low-rise property development at SC Asset, said competition had grown immensely in the Ratchaphruek-Rama V area since 2006, due to a number of property firms launching residential projects there.

Land prices between Sathorn and the Ratchaphruek Ring Road rose from between Bt6 million and Bt8 million per rai in 2004 to between Bt10 million and Bt12 million per rai last year.

From the Ratchaphruek Ring Road through Rama V Road to Rattanathibet Road, prices have risen from Bt5 million a rai in 2004 to between Bt6 million and Bt7 million now.

Some of the projects have been up for sale since the past three years while more have been launched by developers such as Land and House, Quality House and Sansiri.

Given the high number of projects and the sluggishness in demand for housing projects, developers have launched several attractive campaigns, such as discount schemes.

Combined with government plans to construct a bridge across the Chao Phya River that will connect Nonthaburi I Road to the other side and a road that will connect to Ratchaphruek Road, the area looks set to remain popular for a long time.

More promotions can be expected, which, combined with the new tax measures, will be a good opportunity for consumers. Developers also stand to gain, because revenue is set to rise, due to the impetus provided by the tax package.

Property reporters

The Nation