Good returns guaranteed on property in Sukhumvit 71
The price of land in Sukhumvit 71 (Phra Khanong) has risen 60 per cent from Bt280,000 to Bt450,000 per square wah over the past five years, a survey by Plus Property showed.
The company’s deputy managing director Somsakul Limsuthiphan said on Wednesday that there is still a strong demand for properties in this area, with 80 per cent of the buyers being locals and remainder foreigners.
The survey also showed that 70 per cent of the purchases were for the buyers themselves, while the remainder were for investment purposes.
She added that most of the condominium projects launched in this area experience up to 95-per-cent sale, especially if the units are priced at between Bt100,000 and Bt150,000 per square metre.
Investors who buy condominium units in this location also average a return of 5 to 7 per cent yearly, she said.
Property firm ACE Estate Group is cashing in on the demand by launching its latest Bt545-million high-rise, Arti Sukhumvit 71, with units starting at Bt2.69 million. The condominium has 115 units, designed as studio, one- and two-bedrooms and the penthouse.
The project will be up for booking on July 20 and 21, with Plus Property as its sales agent.
Construction of the condominium will begin in the fourth quarter of this year, ACE Estate’s director Nattapol Jintana said.