Values soar as demand for Khao Yai properties booms

Up to 25 per cent, or Bt15 billion worth, of these are condominium projects, which have seen strong demand among buyers of vacation properties, Uthai Uthaisangsuk, senior executive vice president of Sansiri. The firm launched a combined villa, condominium and hotel project worth Bt2.5 billion this year near Khao Yai National Park. Uthai added that the company has seen strong demand for vacation residences in the Khao Yai area along Thanarat Road and Phansuk-Kudkla Road, about two hours’ drive from Bangkok by car.
According to Sansiri Plc, 10 condominium projects with about 1,500 units have been launched along the two roads this year, worth at least Bt15 billion.
Meanwhile, single-detached house and villa projects comprising about 1,800 units worth at least Bt20 billion have been launched in the same period. Property firms have also sold about 3,600 land plots on which to build residences at prices averaging between Bt4 million and Bt5 million per rai, worth a total of about Bt25 billion.
Of the new projects launched in Khao Yai, at least 60 per cent of the total Bt60-billion worth have been successfully sold. “Most buyers of residential units in Khao Yai bought them as second homes or vacation residences because of their distance from Bangkok – about 150-250 kilometres, or about two hours by car,” he said.
Strong demand enabled Sansiri to successfully sell out its first condominium and villa project, 23 Degree Condo and Villa, worth Bt1 billion, by the middle of this year. The company has decided to launch a second project, the Valley, worth Bt1.2 billion. It has also invested Bt300 million to develop a hotel in the same location, that will open in 2014.
Meanwhile, Sasi Sombat Co, owned by Khunying Sasima Srivikorn, has introduced a condominium project called 360 Degree Pano worth Bt1.2 billion that combines 192 units.