Demand, rents rising fast in Bangkok’s Phra Khanong-On Nut area

Real Estate August 21, 2017 13:17

By The Nation

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Plus Property, a property-management arm of Sansiri Plc, has seen demand rise in Bangkok’s Phra Khanong-On Nut area among foreigners seeking homes. .

Rents there rose by 10 per cent in the first half of the year, higher than in the Thong Lor-Ekkamai area, the company found. 

The resale market is also doing better, with one-bedroom homes fetching 24 per cent higher prices per unit than their launch prices just five years ago, managing director Anukul Ratpitaksanti said on Monday.

Demand has risen in the Phra Khanong-On Nut area, especially among expatriates working in Thailand, he noted. 

During H1, 70 per cent of residential condominium units there were rented by foreigners, up 56 per cent from 2012. 

Rising demand has allowed rent for condominium units to jump by 10 per cent over the past three years, greater than in Thong Lor-Ekkamai, seen as the area most popular among foreigners renting condo units.

That’s compared to a 4-per-cent rise in rents in Thong Lor-Ekkamai in the past three years.

The ratio of foreign-to-Thai lessees stood at 90-10 per cent.