Major boost for residential prices along Purple Line

Associate director Surachet Kongcheep said new condominium projects being launched around the Purple Line from Bang Sue to Bang Yai would see offer prices between 30 per cent and 50 per cent higher than those in existing projects.
This follows increases of up to 30 per cent in land prices in areas around the mass-transit route since the start of last year.
“The price of land around Tao Pun station has been recorded at up to Bt500,000 per square wah [4 square metres], because the area from Tao Pun to Bang Sue station will be a new commercial hub and logistics centre when the mass-transit routes – the Blue Line extensions [Hua Lumphong-Bang Khae and Bang Sue-Tha Pra] and the Purple Line – are linked in 2020,” he said.
According to a survey by the Agency for Real Estate Affairs (AREA), the price of land around the Purple Line route has been recorded at between Bt85,000 and Bt250,000 per square wah, some 25 per cent higher than 2015 levels.
The area around Tao Pun station has seen the highest prices, at more than Bt250,000 per square wah, because the location still has land for the development of residential projects when compared with Bang Sue, where most of the land around the station is state agency-owned and there is limited space for either residential or commercial development, the AREA and Collier surveys both stated.
According to a survey by The Nation, the total number of condominium units launched around the Purple Line route from Bang Sue to Bang Yai – a 23-kilometre stretch – is nearly 50,000.
There are 16 stations along the route: Tao Pun, Bang Son, Wong Sawang, Yaek Tiwanon, Public Health Ministry, Nonthaburi Civic Centre, Si Phon Sawan, Yaek Nonthaburi 1, Phra Nangklao Bridge, Sai Ma, Bang Rak Noi-Tha It, Bang Rak Yai, Bang Phlu, Sam Yaek Bang Yai, Talat Bang Yai and Khlong Bang Phai.
Some of the projects have already been completed, with transfers to customers starting last year and running through 2018.
Both listed companies and small and medium-sized property companies are developing residential projects in this location.
For example, Pruksa Real Estate has launched five condominium projects with a total of 5,796 units worth Bt11.04 billion.
Supalai has launched three condo projects worth up to Bt6 billion with a combined 2,877 units, and AP (Thailand) has four projects worth up to Bt6 billion, with 4,658 units.
Eastern Star Real Estate’s Bt2-billion Amber condominium will contain 563 units, while SC Asset Corp has launched the Centric Tiwanon, offering 1,063 units.
Sansiri, meanwhile, has launched the dCondo Rattanthibeth with 1,325 units.
Pacific Star (Thailand)’s latest condominium, The Posh Twelve, is located close to the MRT Public Health Ministry station, with 1,394 units.
A Plus Real Estate’s A Plus 2 project is located close to the MRT Si Phon Swan station, with 134 units, while Real Asset Development’s The Stage Tao Pon Interchange project will have 773 units and is expected to be completed next year.
Meanwhile, the location also has seen condominium projects launched in the last five years and ready for transfer to customers, comprising a total of 15,525 units, according to research by Knight Frank Chartered (Thailand).
This means the location from Bang Sue to Bang Yai will have nearly 70,000 condominium units along the 23km route, which will become operational late this year.