With prices rising at new projects in Sukhumvit Road, there is now clearly development in other areas of Bangkok, and one place where this is more than evident is in Rama 9 Road. This long boulevard, with a flyover on top of it, runs roughly parallel with Phetburi road, which in turn runs more or less in line with Sukhumvit road.
As for being two roads back from Sukhumvit Road, Rama 9 still has a lot going for it, most notably good developments of retail and office space and the Rama 9 MRT station. Whilst Sukhumvit Road has a train line running down its length, Rama 9 road has a train line
crossing it. The Rama 9 station is close to the Asoke road junction and so most of the new development activity is in the vicinity of this MRT station.
Barely 100m from the station is the soon to be built Ideo Mobi. This project is to be a single building set over 28 floors, housing some 703 units. Prices are even higher than those of some of the release prices for Ideo’s condos in Sukhumvit road, suggesting that the
market is still buoyant. At the same time just when you thought the 25 square meters studio that Ideo offered in their Sukhumvit Road projects was about as small as it could get, the Ideo Mobi at Rama 9 is offering even smaller 21 square meter units for 2.6m baht. Amazingly they have made it possible to cram a kitchen and shower room as well as living room into this incredibly small space.
Arguably targeted at Japanese and Korean buyers these units are functional albeit tiny. 1 bedroom units also come in ultra compact
sizes of 30 square meters, (the floor space typically associated with a studio condo), and prices for these start at 3.42 million baht and rising to 3.81 million baht. This represents a price per square meter of close to or above 120,000 in each case. Two-bedroom condos with one bathroom are available on a “cozy” 45 square meter floor plan starting at 5.04m baht and rising to 5.76 on higher floors. Studios make up about 35% of the units, with 1-bedroom floor plans making up around 50% of the units and 2 bedrooms
the rest. Facilities will include a swimming pool, gym and landscaped gardens on the 6th floor, plus a keycard security at the entrance and in lifts, as well as digital door locks on all units. With the project to be completed around June 2014, there are 15 months of payment terms available currently and units are available.
Not far down from the Ideo Mobi is the Aspire Rama 9 condo (pictured directly below) also in the early stages of construction and due to be completed around the end of 2014. Slightly larger unit sizes are on offer with the smallest units being 1 bedroom 38.2 square meters and starting at 3.1 million baht. The project will consist of 2 buildings - ‘A’ building of 23 floors and ‘B’ building of 25 floors. Parking is exclusively in the B Building, but the distance is very short between the two buildings, barley 8 meters.
In the A building facilities will include an indoor swimming pool and Gym on the ground floor. Security is in place with key card system
planned for all lifts and entrance doors. 2 bedroom units are available in 1 bathroom and 2 bathroom configurations, with the former
set into 49.2 square meters and starting at 4.06 million baht, and the latter being a larger unit overall comprising a 66 square meter
floor space and starting at 5.44m baht. Thus prices are approximately in the 80,000 to 90,000 per square meter. The location of the
building is within approx. 300 m of the MRT station.
Opposite these places is the yet to be built Belle Grand Rama 9 project (artists impression below) with prices from 70,000 per
square meter well advertised in the area. The project is part of a larger “new CBD” in the area by listed developer Grand Canal Land
Plc. The company is looking to develop its 17.6-billion-baht mixeduse megaproject at the Rama 9 intersection as a new landmark
for Bangkok and so it is expected that the development will put a stamp on Rama 9 area as a new and important central shopping
and business district. It could be for this reason that prices are rising in the area so strongly of late.
The residential side will consist of 8 new tower blocks in distinct octagonal shapes ranging from 28 stories to 44 stories and will
provide a range of condo sizes, but housing around 1992 units in total. Also on the site will be a number of office buildings and a hotel.
The site is adjacent to the recently completed Central shopping plaza at Rama 9 station. Further down Rama 9 are the Preecha Group PG1 and PG2 buildings, which straddle the carriageway. These low-rise buildings house a range of units of different sizes. The building were recently completed, and rentals are quite reasonable with 40 square meter corner 1 bedroom units available for around 14,500 per month and 30 square meter studios for around 10,000 per month.
On the other side of Thanon phet Uthai, connecting Rama 9 with Phetburi road, is another new building under construction by the name of TC Green. (Artists Impression below) This project is located not far from the Golden tulip sovereign hotel and is also close to a Tops supermarket and a BSC bowl and karaoke center.
It is nearing completion and has generously sized condo units available at around 65,000 to 70,000 per square meter. As an example a good sized 1 bedroom 39 square meter unit can be bought for 2.45 million baht off plan. There is still the opportunityto secure 12 or 15-month funding terms. The project will comprise 4 buildings, 2 of which will be complete in Oct. 2013 and the other two will be complete in Oct. 2014. The project is set in a total of 16 Rai of land and so will have a spacious feel about it. Swimming pool is to be included on the 5th floor of each building. Other features include laser security for car parking, landscaped garden, and a shopping area comprising 26 units.
Further south on the corner of Ekkamai road and its junction with Rama 9 is the I house condo. Relatively newly built this occupies
a spot where the expressways cross over. I house condo Ekkami rama 9 has on offer spacious 56 square meter 1 bedroom
units for rent from just 20,000 baht per month with studios on a 32 square meter floor plan available from under 10,000 baht per
month. Features on site include a minimart, covered parking and landscaped gardens.