Property developer KPN Land has advanced further into the luxury condominium market with its new brand SHÁÁ, a creation of modern craftsmanship for the KPN-Keppel Alliance joint venture.
Strategically located within the prime Sukhumvit 19 area of Bangkok, the SHÁÁ Asoke is about 250 metres from Asoke Interchange rail station, with prices starting from about Bt10 million and installments at Bt30,000 per month.
Presales for the project will be held from May 25 to 27, KPN Land chief executive officer Rawee Tahtniyom said on Tuesday.
The Asoke area, including sois 19, 21 and 23, is recognised as a prime location with potential to appreciate more quickly than other areas, said Aliwasa Pathnadabutr, managing director of CBRE Thailand.
The popularity of the area is evidenced by the number of new developments burgeoning in the recent past, from mixed-use properties to hotels to condominiums.
Additionally, land prices in the Sukhumvit area have increased by 30 per cent over the past two years, consequently increasing condominium prices, she said.
Presently, average condominium prices in this area have reached Bt300,000 per square metre. Thanks to the centrality of the Asoke area, CBRE expects there to be a continued demand for this location from both Thai and foreign buyers, whether it be for personal use or investment, Aliwasa added.
“The overall luxury real-estate market is also expected to grow thanks to improvements in the economy, political sentiment, a strong tourism industry, capital-market growth, and increased foreign investment in Thai property,” she explained.