Developers eye subway routes for high gains

Several property developers are focusing their development efforts on new projects along the subway routes. The companies expect better returns because people looking for a more convenient commute prefer such locations.  

According to The Nation's survey, the value of land and property along the subway route from Hualumphong to Bang Sue has soared significantly in the past few years.

Some of the most popular locations are the business areas and entertainment zones on Ratchadaphisek Road, near the Queen Sirikit Convention Centre, in particular.

Many developers, as well as buyers who have rented out these properties, have generated high returns for their investments.

The survey shows that there is a big supply of ready condominiums, and many more will soon be available for purchase as well as rent by Thais and foreigners.

These include the Queen Lotus Guesthouse, which will have its grand opening on July 15. The project - situated only 300 metres from the Asoke-Sukhumvit intersection - has 30 units.

A guest house is available at Bt1,400 per day and can also be had as a serviced apartment for daily, monthly or annual rentals.

Jasmine City Building, a serviced-apartment project with 202 units across 30 floors at Sukhumvit Soi 23, has been developed by Lai Suwan, which was formerly in the garment business. The project is at a five-minute walking distance from the MRT and Skytrain stations. This project also has office and commercial space for rent.

A studio apartment covering 34 square metres is available for Bt51,300 a month; a one-bedroom apartment covering 58 square metres costs Bt64,800 a month; a one-bedroom suite covering 68 square metres goes for Bt70,200 a month; and a two-bedroom apartment covering 108 square metres is available for Bt106,650.

NL Residence is another project, situated close to the Phetchaburi station.

It has been developed by Asoke Kamolwan, a subsidiary of NL Asset.

The building has 33 units on 11 floors. Three types of apartments are available on monthly rent: one-bedroom covering 85 square metres costs Bt33,000 to Bt38,000 a month; a two-bedroom apartment covering 175 square metres goes for Bt45,000 to Bt48,000 a month; and a three-bedroom apartment covering 285 square metres is available for Bt60,000 to Bt65,000.

Apart from these projects, The Nation survey also found other apartments and condominiums for rent on Sukhumvit Soi 21 and nearby areas.

Asoke Court has 16 units for rent at Bt25,000 a month. At Asoke Place on Sukhumvit Soi 21, which has 250 units, one- and two-bedroom apartments are available for Bt27,000 to Bt30,000 a month, respectively.

Supalai Premier Place, a condominium project with 337 units, has been available since 2005 at rents between Bt26,000 and Bt80,000 per a month.

Rambhalai Court, an apartment complex, has eight units, each available for Bt25,000 a month.

The survey has revealed most condominiums and serviced apartments in and around Asoke Road are available at competitive prices because of the high level of competition.