Rattanathibeth hot spot for new condo projects
Condominium projects worth nearly Bt10 billion are going up |on Rattanathibeth Road to cash in on strong residential demand before the Bang Sue-Bang Yai MRT extension is completed in |2015.
Land prices on Rattanathibeth from Ngarmwongwan Intersection to Phra Nangklao Bridge have skyrocketed from Bt30,000 per square wah five years ago to Bt70,000-Bt100,000 (Bt17,500-Bt25,000 per square metre) this year. According to a survey by The Nation, Rattanathibeth has nearly 10,000 condo units from both existing projects and those launched this year.
Asian Property Development has developed Aspire Condo-minium Ngamwongwan with 540 units starting at Bt1.23 million each.
LPN Development is launching Lumpini Park Rattanathibeth-Ngamwongwan this quarter with 1,250 units starting at Bt1.1 million. The total value is Bt1.5 billion. Sansiri introduced D Condo Rattanathibeth last quarter with 1,325 units starting at Bt900,000. The total value is Bt1.3 billion.
Narai Property Co debuted The Parkland Ngamwongwan-Khae Rai early this year with 635 units starting at Bt1.36 million.
Supalai brought out Supalai City Home early this year with 1,232 units starting at Bt1.28 million or worth Bt1.3 billion in total.
Supalai also will offer Supalai Vista @ Tiwanon this weekend. It has 652 units starting at Bt1.29 million and total value of Bt1.3 billion. Supalai managing director Atip Bichanond said yesterday that demand around the Purple Line was brisk because residential prices were still lower than in the central business district but the MRT route would commence operations in three years.
“We launched out first condo project early this year, Supalai City Home, which sold out within two months.
“We saw the strong demand in this location, and then we decided to launch our new projects here,” he said.
