Mr. Frank Khan, Executive Director and Head of Residential, Knight Frank Thailand, said that 2018 would be a challenging year for the super prime and prime condominium market, due to the fact that there is still supply available. Prominent locations of super prime and prime residential projects include low to mid Sukhumvit from Asoke to Thonglor, as well as Ploenchit, Chidlom, Sala Daeng, Ratchadamri, Langsuan, Wireless and Sathorn Roads. These areas will remain main development areas for the prime and super prime supply because of their convenience and amenities. In terms of unit sizes this year, the upcoming trend seems to be two bedrooms and three bedrooms with a selling price of 300,000 baht/sq.m. or above. The elevated price reflects the limited supply of land in the CBD and central Sukhumvit areas. It is interesting to note that branded super prime and prime residences utilise very high-end and valued architects, interior designers, and branded furniture as well as facilities designers.
Ms. Anchalee Kasemsukthawat, Director, Residential Department, Knight Frank Thailand, added that developers have also chosen to re-strategize and focus on overseas activities – simply because the uptakes of overseas buyers have shown positive results in 2017 for all levels of the market. However, the majority of the overseas buyers will focus on branded residences based on the following facts:
Assurance of quality in construction, design, service and amenities
“Branding” a lifestyle orientated decision
Potential investment return from rental pool or hotel operation
Sense of secure investment
Innovation in terms of concept