The Khlong Toei district in Thailand has a wide variety of property. These range from high end investment grade property to lower student rental type properties. Property close to the mass transit system should be higher than those close to the Bangkok University and property close to the Chao Phraya river should carry the highest prices in terms of rental and purchase price.
Khlong Toei District
The Khlong Toei property market is mixed and there are five BTS sky train stations in the area as well as two MRT subway stations. The MRT Khlong Toei as well as the MRT Queen Sirikit National Convention Station are both located to the West of the Khlong Toei district. The BTS runs along the North part of Khlong Toei and runs the length of the district. Phra Khanong, Ekkamai, Thong Lo as well as Prom Phong are all on the border of the district along Sukhumvit road. These are also all BTS stations.
One of the latest developments has been the IDEO Sukhumvit 93 which is a large development with more than 1,300 units in the area with prices ranging from 4,000,000 THB to just over 5,000,000 THB per unit. The sizes ranged from 25 to 34 Sqm per unit or about 145,000 THB per square meter. This was aimed mainly at the growing middle class in Thailand. This project was developed by Ananda Development. Marque Sukhumvit was a high-end development in Klong Toei where the units were sold at 214,000,000 THB each. These had been 5 bedroom units with a total floor space of about 437 Sqm. This was priced at about 490,000 THB per Sqm. This project was done by Major Development Public Company a well-known property developer in Thailand. The Esse was another top end project close to the BTS Thong Lo which was selling at around 23,000,000 THB with two bedrooms and two bathrooms at 73 Sqm or around 300,000 THB per Sqm.
Rental units in the area are also on the high end with 60,000 THB being more or less the average for the region. This is going to depend on location as well as the type of property which you are going to lease in Khlong Toei. A good example of this is the project called The Crest, where units sell for 17,000,000 THB for a two-bedroom apartment with 72 Sqm of space. This same unit rents out at 75,000 THB per month. This has been offered as investment property in a large 27 floor condominium complex. You will recover your money back at this rate with 227 months that without taking the property value having increased over this time period as well as the rental increases over the years.
Always speak to an investment adviser before you decide on buying property in Thailand for proper investment advice. The Khlong Toei real estate market is a good area and many property developments have come to market over the years. Also take advice from a property lawyer in Thailand and look for a due diligence report on the property before you deposit money for your property. There is a process for foreigners which needs to be followed when sending money to Thailand for property or it will not be accepted by the Land Department.
Khlong Toei property and investment in condominium units in the area is something one has to look at.