Trend in Bangkok luxury homes is up – topping four storeys
Large homes with big backyards aren’t necessarily everyone’s choice in luxury residences once location and land costs are factored in, Nexus Property Marketing pointed out in a press release this week.
“Suitable property size and the limited availability of prime locations are also significant factors influencing project development,” it said. “The emphasis now is more on behaviour and lifestyle, since a house also reflects their identity.”
Managing director Nalinrat Chareonsuphong said the luxury-home market in inner Bangkok continues to grow.
From 2015 to the first quarter of 2018, developers put 42 luxury projects on the market with 1,554 units, reflecting continuous demand.
The top seven preferred locations in descending order have been Sukhumvit (Phrom Phong-Ekamai), Lat Phrao-Kaset Nawamin, Rama IX-Srinakarin-Pattanakarn, Ratchapruek, Sathorn-Rama III, Bang Na, and Rama II, he said.
Location remains the key factor, Nalinart said.
“With a limited available land and land prices soaring every year, developers are more interested in smaller properties that can offer function areas to meet buyers’ requirements,” he said.
“With plots usually between 29 and 129 square wah, we’ll see more vertical houses on the market, higher than 15 metres, or four storeys. From 2015 to the first quarter of 2018, 12 such projects were developed, featuring and 94 units.
“During 2015 and 2016, this kind of house was being built in the Sukhumvit area (Phromphong-Ekamai) and from 2017 to the first quarter of 2018, expanding to Lat Phrao-Kaset Nawamin, Bang Na and Rama IX-Pattanakarn-Srinakarin.”
