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MARKET WATCH

Soi ruamrudee provides room for rental income

Firms home in on centrally located area with serviced apartments



With its proximity to the Bangkok Transit System and shopping centres, Soi Ruamrudee in Lumpini's central business district has long been a prime location for luxury condominiums and apartments. Now, the area is witnessing a rise in the number of serviced apartments as developers see a strong demand for such properties.

The rent is at par with other central business districts such as Phloenchit, Soi Langsuan and Wireless Road. But unlike serviced apartments in other areas, which are operated by international chains and brands, properties in Soi Ruamrudee are run by local businessmen.

Two new serviced-apartment projects have been launched this year in the area - Bliss Residence and Tenface Service Residence.

Developed by Noble Develop-ment, the eight-storey project, inspired by Tosakan from "Ramakien", offers 79 units with different room types. There are 59 one-bedroom suites spanning 61 square metres, six two-bedroom suites covering 110 square metres, 13 two-bedroom premier suites of 125 square metres and one "10-face" suite spanning 142 square metres.

Noble initially planned a Bt690-million condominium project, but decided to go for serviced apartments responding to the growing demand for such properties. The developer is offering amenities such as Wi-Fi high-speed Internet access and limousine service to tenants.

Serviced apartments in Soi Ruamrudee are mostly low-rises and offer fewer rooms. Sittirat Mansion offers 40 units. Rent at the 12-storey building ranges between Bt65,000 and Bt90,000 a month. Condomin-iums at Baan Sirirudee are available for Bt45,000 to Bt70,000 a month. The project offers 68 units.

Noble 09 Ruamrudee offers 39 condominiums at Bt50,000 to Bt65,000 a month. Ruamrudee Garden Condo offers 11 units at Bt50,000 a month.

Chateau De Bangkok, a 15-storey building has 137 units that can be rented on a daily or monthly basis. The project is targeted at foreigners and businessmen. It offers one-bedroom junior suites at Bt67,000 a month, superior suites for Bt76,000, executive suites for Bt79,000 and deluxe suites for Bt82,000 a month.

In the two-bedroom category, junior suites are available for Bt91,000 a month, superior suites for Bt97,000, deluxe suites for Bt101,000 and duplex penthouse for Bt151,000 a month. It also offers rooms at rents ranging from Bt2,000 to Bt6,000 a month.

Ruamrudee Court offers three room-types for Bt30,000 a month. Pricha Mansion has 14 units available for Bt33,000 to Bt45,000 a month. Ruamrudee Penthouse offers three-bedroom apartments for Bt80,000 a month. Conrad Residence has 112 apartments for rent at Bt90,000 to Bt140,000 a month.


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