Thailand’s Real Estate Information Centre has earmarked the Ramkhamhaeng, Hua Mark and Krungthep Kreetha areas – which have seen increasing numbers of developments in the past five years – as being hot spots in the Thai capital. According to a new report, many types of property have been developed in the areas along Ramkhamhaeng Road, Rama 9 Road and the Eastern Outer Ring Road. Between 2006 and 2010, 29 projects with a total of 6,600 units were launched. Among them are 12 single detached house projects, 10 townhouse projects, seven condo projects. More than 90 per cent of all projects have already sold out. During the first half of 2010, five new projects were launched in the area, all landed properties, with a total of 560 units. More projects are expected to be launched in these areas once the Airport Link is fully open for public use in August. From the latest evaluation by the Treasury Department, the prices of land on Ramkhamhaeng Road range from THB51,000 – THB140,000 (US$1,580 – US$4,336) per square wah, except for Ramkhamhaeng Soi 24 where the evaluated land prices are from THB34,000 – THB60,000 (US$1,053 – US$1,858), but the selling prices in the market are higher. This is because the area is considered a prime location for residential properties, being located close to many amenities including universities, shopping malls and office buildings. Source : property-report.com .
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Bangkok hotspots revealed in new report
But if the government invests in mass transit routes, adding one or two new lines in the future, new residential and commercial areas will be created. Property tax incentives implemented by the government of Thailand to stimulate the sluggish market expired on May 30 as it was no longer a need for the tax breaks as the economy was recovering, the property sector had grown by 10% over the past year, and developers’ margins were improving. Governments have used tax incentives to stimulate the property market during most economic slumps since the 1997 Asian financial crisis.
The reason is partly improved infrastructure, with the Skytrain and soon to be opened Mass Transit Subway system making the business districts more easily accessible from the outskirts of Bangkok. Northern districts such as Ram Intra, Rangsit, Nonthaburi, and Chang Wattana are the hotspots of housing estate development, while the downtown areas surrounding Silom, Sathorn, and Sukhumvit Roads remain the most active areas for new condominiums.
Rental houses can be more difficult to find. Unlike highrise buildings, they’re rarely situated on main roads. More often than not, the developments are a few miles out of the central area. Depending on location, four-bedroom houses mostly rent for between $1,350 and $2,930 monthly.
