Bangkok luxury housing segment continues to grow steadily
Large property-development companies are heavily investing in luxury housing projects, as this market segment continues to grow steadily and is not affected by the strictness of financial institutions.
According to the latest data, the most expensive luxury house in the top-tier category located within the Bangkok metropolitan area was priced at 297 million baht. Among the top 10 most expensive projects, the 10th-ranked project was priced at 105 million baht.
Sophon Phonchokchai, chairman of the Thai Real Estate Research and Valuation Information Centre, Agency for Real Estate Affairs Co Ltd, revealed the latest survey data on residential projects in Bangkok and its vicinity as of December 2023.
The data presented luxurious detached houses priced at 105 million baht and above, with available units in Bangkok totalling seven projects, two projects in Samut Prakan province, and one project in Nonthaburi province.
These projects are situated in convenient transportation locations with expensive land prices. The houses are designed to have spacious living areas and come with comprehensive amenities such as swimming pools and elevators.
- No 1: Price 297 million baht, Aliyah Reserve project, project location Soi Phatthanakan 32, Phatthanakan Road, Suan Luang district, Bangkok. Type: three-storey detached house, usable area 1,900 square metres, size six bedrooms, seven bathrooms, parking for six cars, one passenger elevator, one food delivery elevator, private swimming pool. Project developed by Aaliyah Corp Company Ltd.
- No 2: Price 210 million baht, Mulberry Grove The Forestias Villa project, project location Bangna-Trat Road, Bang Phli district, Samut Prakan. Three-storey detached house, usable area 1,246 square metres, size five bedrooms, seven bathrooms, parking for five cars. Project developed by MQDC Town Royal Residence Company Ltd.
- No 3: Price 170 million baht, Mavista Prestige Village Project, Krungthep Kreetha, project location Krungthep Kreetha Road, Saphan Sung district, Bangkok, three-storey detached house, usable area 914 square metres, size five bedrooms, five bathrooms, parking for six cars. Project developed by MJP Property Company.
- No 4: Price 163 million baht, Lake Legend Bangna-Suvarnabhumi project. Project location: Soi King Kaew 37/5, King Kaew Road, Bang Phli district, Samut Prakan. Three-storey detached house, usable area 656 square metres, size five bedrooms, five bathrooms, parking for four cars. Project developed by PFHKL 3 Company Ltd.
- No 5: Price 150 million baht, Nirvana Collection Krungthep Kreetha project, location: New Krungthep Kreetha Road, Bang Kapi district, Bangkok, three-storey detached house, usable area 1,005 square metres, size five bedrooms, five bathroom, four parking spaces, project developed by Nirvana Development Public Company Ltd.
- No 6: Price 127.857 million baht, Lake Legend Chaengwattana Project, Phase 2, project location on Chamber of Commerce Road, Pak Kret district, Nonthaburi, two-storey detached house type, usable area 523 square metres, size four bedrooms, five bathrooms, parking for four cars, project developed by Property Perfect Public Company Ltd.
- No 7: Price 122.8 million baht, Ark Sukhumvit 39 project, project location Soi Sukhumvit 39 (Prachankhi), Sukhumvit Road, Watthana district, Bangkok, six-storey detached house, usable area 829 square metres. Project developed by Enrich Development Company Ltd.
- No 8: Price 120 million baht, Granada Pinklao-Phetkasem project. The project location is next to Kanchanaphisek Road, Bang Khae district, Bangkok, two-storey detached house, G-Theodosius style, ultra-luxury mansion in Classic Simplicity style inspired by Granada, Spain, usable area 935 square metres, six bedrooms, seven bathrooms. Parking for five cars. Project developed by SC Asset Corporation Public Company Ltd.
- No 9: Price 110 million baht, project Issara Residence Rama 9, project location Soi Rama 9-13, Rama 9 Road, Huai Khwang district, Bangkok, three-storey detached house, Modern Tropical style, usable area 726.2 square metres, size: five bedrooms, six bathrooms, five parking spaces. Project developed by Chan Issara Development Public Company Ltd.
- No 10: Price 105 million baht, project Ninety Five East One. Project location: Soi Yothin Phatthana 3, Pradit Manutham Road, Bang Kapi district, Bangkok, 3.5-storey detached house, usable area 842 square metres, four bedrooms, seven bathrooms, parking for six cars. Project developed by SC Asset Corporation Public Company Ltd.
Previously, there were projects priced higher than these, but they were sold out.
"However, considering the single house priced at 297 million baht and the average price of houses currently sold being 5.513 million baht per unit, the median could be as low as 4 million baht," Sophon said.
“This means that at least the wealthiest individuals, who can afford the most expensive houses, are approximately 74 times richer than the average person (according to the median). However, many billionaires have evaluated properties where houses and land could be priced up to 2 billion baht, equivalent to the price of 500 houses purchased by ordinary villagers."
