KPN unveils new luxury condo
Demand for luxury condominiums in the Sukhumvit area is still strong, driving prices up to Bt250,000-Bt300,000 per square metre, according to CB Richard Ellis (Thailand).
To catch the market trend, KPN Group has unveiled The Diplomat 39 on Sukhumvit Soi 39 worth Bt3.6 billion, chairman Kris Narongdej said recently. After the success of the Diplomat Sathorn, the company has confidence that demand for luxury residences is still growing, especially those located close to mass transit systems.
“We are determined to develop The Diplomat 39 with the concept of the ‘timeless treasure’ to convey the image of value and pride to the owners to pass on to their heirs.
“The design is a great combination of old and new world architecture focusing on great exterior design and a luxury look on the inside with the application of Palladian architecture (classic Italian architecture) and modern design,” he said.
Aliwassa Pathnadabutr, managing director of CB Richard Ellis (Thailand) and the project’s sales consultant, said that in the past 10 years, the average price of new condos downtown has more than doubled from Bt78,000-Bt105,000 per square metre to Bt160,000-Bt220,000.
In Sukhumvit, the rise has been from about Bt84,000 to about Bt180,000, due to the escalation in the price of land in the central business district.
New luxury and super luxury condos are now fetching Bt250,000-Bt300,000 per square metre, so developers need to differentiate themselves through details in such areas as design and materials to ensure the projects are well accepted by high-end customers.
“We can see the product development that is targeting high-end customers, shifting the standard of high-end condominiums to the world-class standard similar to those in Asian big cities and in Europe, while there is still a big gap for improvement lying ahead in the future, she said.
