Housing boom on Phetkasem, Thon Buri

According to a survey by The Nation, residential land close to the Skytrain line has increased in value from Bt90,000-Bt120,000 per square wah in 2010 to Bt150,000-Bt230,000 (Bt37,500-Bt57,500 per square metre).
About 4,000-5,000 new residential units on Phetkasem are registered per month, showing prices averaging below Bt4 million each. A full range of homes is available, from condos to detached houses.
SC Asset Corporation has been selling its residential project on Phetkasem Soi 81 worth Bt2 billion since last year. MK Real Estate also has project on Soi 81 – townhouses worth Bt1 billion. Land and Houses’ projects are on Phetkasem-Bang Kai Road.
Estate Guru Co has already sold out its Wizdom townhouse project on Phetkasem Soi 53 worth Bt150 million after opening presales in March. The project is expected to start generating Bt75 million in revenue this year and Bt75 million next year.
Chief executive officer Nat Manasomjit said yesterday that the company conducted a marketing survey and found that demand for residential projects in this location was growing strongly, especially for townhouses priced not over Bt4 million.
“We bought 7 rai of land on Phetkasem Soi 53 to develop Wizdom in 2010 at an average price of Bt100,000 per square wah. But now the same location records sales at prices between Bt150,000 and Bt230,000 per square wah. This shows strong demand for land to develop residential projects in this location [after the announced] extended route that will start operating next year,” he said.
The company also plans to develop two projects on Phetkasem and Rama II roads worth about Bt500 million next year. They are expected to contribute nearly Bt200 million in revenue next year, or double its total revenue of Bt75 million this year.
Estate Guru was established in 2004 with registered capital of Bt5 million, but started developing its first townhouse project on Phetkasem this year.