Unsurprisingly, Big Sukhumvit is the most popular place for condominiums in Bangkok. Last year, Wattana and Khlong Toi accounted for almost 30% of the total demand for condominiums in the Thai capital. Of course, there is a reason for that.
There are many more apartments in these areas than anywhere else in the city. Developers have spent years launching projects here that stretch from the Chalme Maha Nakhon Expressway to Sukhumvit 71 and beyond.
Demand for Greater Sukhumvit condominiums peaked in the third quarter of 2022, although the fourth quarter increased significantly compared to the first half of the year. This coincides with the trends in the Bangkok condominium market.
In terms of price, Greater Sukhumvit apartments priced from 5 to 10 million baht were the most popular, accounting for 28.6% of total demand in 2022. They were followed by a price range from 10 to 20 million baht, for which 26.6% of requests for apartments in Bangkok were received. Luxury apartments priced from 20 million baht and above were of interest to 23% of buyers.
In the price range from 10 to 20-million-baht, Hyde Heritage Thonglor is an excellent example of a condominium that is aimed at a specific target audience. He has effectively differentiated himself in a place where there is a lot of competition. This was achieved by using the knowledge and strength of each joint venture partner to create a unique housing that is suitable for a specific demographic group.
Estelle Phrom Phong stands out at the top of the price spectrum. Developer Raymond Land knew exactly what buyers wanted in this place in terms of space and design. Instead of getting bogged down in what others are doing, the firm has completely focused on a different vision that resonates with real estate buyers.