PLUS PROPERTY reveals major developers commencing with projects in Saphan Mai due to progression in Green Line electric train
10 ก.ย. 2018
ข่าวสารจากพลัสฯ
Plus Property, the full-service professional property and facility management agency, revealed its findings from a survey of condominiums in Saphan Mai area where rapid progress is being made over the construction of the Mochit-Saphan Mai-Kukot Green Line electric train segment. Major property developers have entered the scene with new projects, especially in the surrounds of Sai Yut station and Saphan Mai station where a large number of upper projects are expected to be developed.
The area has good prospects due to its proximity to malls and large markets, and the uninflated land price is expected to rise after the electric train stations are opened. Condominium rooms are selling for just 72,000-110,000 baht per square meter at present, while prices are rising 22% per year and return on rent stands at 5-7%, presenting an attractive investment opportunity.
Mr. Anukul Ratpitaksanti, Managing Director, Plus Property Company Limited, the full-service professional property and facility management agency, spoke of developments relating to the construction of the Green Line (North) electric train segment between Mochit-Saphan Mai-Kukot. Construction has progressed quickly and is now more than 70% complete, and service – according to the announced work plan – is slated to commence in 2020.
This has resulted in major property developers having entered the area to prop up new projects that are proving attractive, whereas previously only small and local developers were active in the area. Plus Property’s research and development division most recently determined, through its survey, that there is high demand for condominiums in the Saphan Mai area that are priced between 72,000 and 110,000 baht per square meter.
Over the previous four years (2014-2017), these condominiums have experienced a sale average of 84% per year. Demand resulting from purchases for real occupation have been increasing by about 6% per year. The current plan to launch service on the Green Line electric train route in the near future has triggered heightened interest in the Saphan Mai area. This locale not only offers the prospect of convenient transportation; it also attracts with an array of facilities such as Don Mueang airport, shopping malls, large markets, two hospitals and a number of well-known universities. Therefore, Saphan Mai has become a location worthy of attention.
PLUS’s survey has also determined that the area encompassing Sai Yut station is worthy of attention. Major developers have started to enter the scene here and the price of land in the Saphan Mai locale is not high when compared to land at other locations. The land price in Saphan Mai has grown by 8% per year on average; it grew by 37% over the previous 5 years (2013-2017). A height restriction is placed on projects in this locale due to the close proximity to Don Mueang airport. Projects being developed here are generally of medium height.
“The price of existing condominiums in Saphan Mai currently averages to 75,000 baht per square meter – an increase of 22% per year over the previous 4 years. New projects are priced between 85,000 and 110,000 baht per square meter; this price has been growing by 6.5% on average, over the previous 4 years. Prices are expected to increase in tandem with the progression of the Green Line electric train project. Currently, buyers and investors might find opportunity with the relatively unexaggerated price in this location. This area is appropriate for investors looking to purchase rooms to rent out because the rent stands at 5-7% per year, compared to the selling price at present”, said Anukul.
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