Tao Poon-Bang Sue is transforming into Thailand's largest mass-transit hub, which is expected to be completed in 2020, property agency Knight Frank Thailand managing director Phanom Kanjanathiemthao said on Monday.
The location will also become a new business centre in Bangkok, especially as it has connected the MRT Blue Line at Bang Sue station with the Purple Line at Tao Poon station since the end of last year, he said.
This has greatly boosted the attractiveness of the residential area in Tao Poon-Bang Sue, which has been further augmented with plans to develop over 300 rai (48 hectares) of land around the stations into a transit-oriented development that encompasses mixed-use projects, the MD added.
In terms of the development of condominiums in Tao Poon-Bang Sue, from 2009 to the end of last year, there were 30,200 units in the total accumulated supply, which had an accumulated take-up rate of 90 per cent.
Presently, the average selling price per square metre for grade-A condominiums launched in the Tao Poon-Bang Sue area is about Bt117,000 per square metre, Phanom said.
The highest average selling price is Bt134,000 per square metre, according to Knight Frank Thailand’s survey.