Ari-Phaholyothin rides mixed-use projects boom
A major Bangkok area, Ari-Phaholyothin, is being transformed into the newest centre for mixed-use projects that offer office spaces and residences for people seeking an urban style of living, according to a survey by Nexus Property Marketing.
Along the two-kilometre section from Ari to Saphan Khwai BTS station, there is a visible rise in the number of governmental premises, office buildings and mixed-use developments, with abundant facilities for modern lifestyle like community mall and department stores, eateries, coffee shops and hospitals. Offering easy access by walk or Skytrain, it has become the desired location for everyone to move in, while the original residents are moving out, Nexus managing director, Nalinrat Chareonsuphong, said on Monday.
Since 2013, an increasing number of new condominium projects, high rise and low rise, have been launched. Of the 16 projects, 3,318 units out of 4,103 available units have already been sold, accounting for 81 per cent, she added.
Projects launched in the past 1-2 years had a sales rate of more than 70 per cent. The Hi End condo (Bt110,000 to Bt190,000 per sqm) holds the biggest market share of 74 per cent or 2,544 units of both high-rise and low-rise condos.
“The market demand for low-rise condo in this zone are continually seen, as the price for residences located in the heart of Bangkok, near the Skytrain station, seem reasonable and affordable.
Meanwhile, condos in high-rises have become more expensive due to the price of land and its availability. Low-rise buildings have fewer units and offer more privacy, which also meets the demand of modern urban life, said the Nexus chief.