Watthana District Tops Bangkok Top Location

Despite the elevated cost per square meter, Watthana district emerged as the preferred choice for both local and international condo buyers and tenants in Bangkok due to its extensive amenities and convenient transportation options.

In the initial nine months of 2023, Watthana secured the top spot among the top five nationalities for condo transfers, as reported by the Real Estate Information Center (REIC). A total of 333 units, valued at 4 billion baht, were transferred in this district during this period.

The breakdown of the top five nationalities revealed that Chinese buyers led with 222 units totaling 2.9 billion baht, followed by Taiwanese with 49 units valued at 470 million baht. Americans accounted for 32 units worth 315 million baht, the British for 19 units valued at 224 million, and Russians for 11 units totaling 87 million.

On a national scale, the leading nationalities for condo transfers in the same timeframe were Chinese, who accounted for 47% with 4,991 units worth 24.7 billion baht. Russians followed at 9%, with Americans and Taiwanese at 4% each, and the British at 3%, as noted by the REIC.

Watthana district, situated north of the skytrain stations from Nana to On Nut, spans the odd-numbered sois along Sukhumvit Road, extending from Nana in the east to Khlong Phra Khanong in the west, and further south of Sukhumvit Road alongside Khlong Saen Saeb in the north.

CBRE Thailand, a property consultant, highlighted Sukhumvit as one of the central business district (CBD) locations with the highest average asking price per square meter for freehold future condos, reaching 250,250 baht.

Artitaya Kasemlawan, Head of Residential Sales at CBRE Thailand, emphasized that when contemplating a condo purchase in Bangkok, most foreigners initially explore CBD areas due to the available amenities and convenient transportation.

According to property website DDproperty.com, the Watthana district also stood out as the favored location among Thai buyers and tenants seeking condo units for purchase or rent in 2023.

Khlong Toey, a neighboring district, secured the second spot among the top five nationalities for condo transfers in the first nine months of the previous year, according to both REIC and DDproperty.com. Huai Khwang recorded the highest sales transfers among Chinese buyers during the same period, with 664 units worth 3.97 billion baht.

Source: The Bangkok Post