New skytrain extension moves condos
Low average prices benefit take-up rates
Newly launched condos near the soon-to-open Talat Phlu-Bang Wa skytrain extension have recorded a higher take-up rate than those along other recent additions.
“Condo prices along mass transit have risen each year due largely to rising land prices and higher construction costs,” Phanom Kanjanathiemthao, managing director of the property consultant Knight Frank Chartered (Thailand), told a seminar yesterday on prime Bangkok property and Asean integration.
“When the train starts running, prices are expected to soar even higher.”
Knight Frank said the average selling price of condos between Talat Phlu and Bang Wa skytrain stations remains low at 63,457 baht a square metre.
Service on the Talat Phlu-Bang Wa extension of the BTS Dark Green Line is set to begin in December 2013.
Meanwhile, the average condo selling price along the skytrain extension linking Wong Wian Yai and Talat Phlu, which opened earlier this year, reached 82,543 baht per sq m in June, up from 63,123 baht in 2009.
The Talat Phlu-Bang Wa extension was found to enjoy the highest take-up rate of newly launched condos among all locations near mass transit.
Of the 3,195 newly launched units in the area from 2009 to the first half of this year, 2,752 have been sold, a take-up rate of 86.1%. That was followed by locations between Saphan Taksin and Wong Wian Yai, with 3,477 units sold from 4,163 total (83.5%).
The third-highest take-up rate was along the subway’s future Purple Line between Tao Pun and Bang Yai, with 18,503 units sold from 25,418 total (72.8%). This line will open in 2015.
Newly launched units between On Nut and Bearing skytrain stations had a take-up rate of 67.8%, with 9,900 units sold from 14,609 total.
New supply in locations between Wong Wian Yai and Talat Phlu saw a 63.8% take-up rate, with 1,599 units sold from 2,508 total.