Pre-Owned Condominium Market Overview
In pre-owned condominium market in Bangkok and perimeters, showed that most condo owners tended to sell about 50% of market, rent out about 30% of market, and remaining was both sell and rent out about 20% of market. For the type of pre-owned condos that posted to sell or rent out, the most were 1-2 bedrooms , almost 70% of market and remaining was Studio and 3-4 bedrooms which selling price and rent would differed by areas.
In Central Business District (CBD) where located in center of Bangkok (including Bang Rak, Sathorn, Pathum Wan, Watthana, Khlong Toei, Yan Nawa, and Bang Kho Laem) would be the area that selling price and rent are highest when compared to other areas in Bangkok. Most prices were about 4- 10 MB (60,000 – 110,000 baht/sq.m) and rents were about 20,000 – 50,000 baht/month (400-600 baht/sq.m/month).
Whereas Urban area Whereas Urban area where had many of populations and path to CBD (including Ratchathewi, Phayathai, Dusit, Phra Nakhorn, Pom Prap Satru Phai, Samphanthawong, Khlong San, Thon Buri, Din Daeng, Huay Khwang, Chatuchak, Bang Sue, Mueang Nonthaburi (east) and Nonthaburi municipality) would be the area that selling price was increased indefinitely. Most selling prices were about 3-6 MB (60,000 – 100,000 baht/sq.m) and rents were 15,000 – 30,000 baht/month (350 – 550 baht/sq.m/month).
And Outer Ring Road area where located in Kanchanaphisek outer ring road that able to go to outer province around Bangkok (including Wang Thong Lang, Bang Kapi, Lat Phrao, Phra Khanong, Bang Na, Suan Luang, Prawet) . In this area, Condos weren’t so much when compared to CBD and Urban. Most are detached house and townhouse. Condos in this area, its price wasn’t so high because most are far from skytrain station and located in alley more than 200 meters. Most selling prices were about 1-2 MB (25,000 – 50,000 bath/sq.m.) and rents were about 6,500 – 12,000 bath/month (200-300 bath/sq.m./month) Moreover, when look details in each area, found that in urban, pre-owned condos price nearly close to CBD because of convenient transportation to city and expansion of CBD that make this area has potential close to CBD. So, condos price in this area started to increase. Whereas Outer Ring Road area wasn’t outstanding about condos, but development of extended skytrain which going to open within 5 years will affect condos in this area more.
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