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Condo projects near universities prove a success

Feb 22. 2020
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By THE NATION

Condominium projects located near universities are bucking the trend of negative economic sentiment caused by the Covid-19 crisis, the current drought and the decline in exports.

Pruksa Real Estate Value chief executive officer Piya Prayong said that the condo projects launched near universities were successful.

He cited the example of Pruksa’s “Plum 89” project, situated near Rangsit University, Bangkok University, and Thammasat University’s Rangsit campus.

“Almost 2,000 units of these condominium units have been sold, especially as the unit price is inexpensive, or lower than Bt1 million,” he added.

He said there were investors buying at least 10 to 20 condo rooms, with the aim of renting them out to students at Bt7,000 to Bt10,000 per month.

“The room rates are not expensive for parents, and presently the rooms are full of students,” he added.

The CEO also said that the rooms of another Pruksa condo project, located near Srinakharinwirot University, have been sold to investors who aim to rent them out as well.

Meanwhile, LPN Development’s managing director, Opas Sripayak, said that more than 7,000 units of his company’s “Lumpini Township Rangsit-Khlong 1” have been sold out, and ownership was expected to be transferred at the end of this year.

The condo project, like Plum 89, are also located in the Rangsit area.

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