The Lumphini district is seen as the heart of the CBD in Bangkok and accordingly rental and property in this area will be expensive. Property will again depend on location in the Lumphini district as well as the type of furnishings that had been used. Lumphini is where you will find many of the Embassies as well as diplomat housing.
Lumphini District Property
Mass transit is the area is extensive with the BTS sky train Ploen Chit and Chit Lom with Rachadamri to the West of the district. The Silom station has one of the few exchanges between the subway system and the skytrain. There are also many expensive hotels in the area such as the All Seasons as well as the US Embassy located in the area. You will find many Koreans living in this area and many adverts for property in the Lumphini district are published in Korean.
The latest property developments in the area are high-end projects with a price tag of 10,000,000 THB and upwards. The most marketed property development in Lumphini at the moment is the Saladaeng One project where property starts at 14,000,000 THB per unit for sale for one bedroom with about 51 Sqm in space. This project was completed in 2018 and included 187 units. The higher end large units are in the 43,000,000 THB price range and rentals in this project range from 45,000 THB per month to 135,000 THB for the larger units.
If you are looking at investment property then you can do your calculations from the location, furnishings as well as what the current sale and rental prices are to work out your return on investment. Speak to an investment advisor about property investment in Thailand before you decide to invest in any real estate in Thailand.
The Craft Ploenchit is another development which has a property sale range of between 10 and 23,000,000 THB. This project has units that have been built over two floors which is the newer designs in Thailand are starting to make use of. The units are either one, two or three bedrooms and it is normally the two and three bedroom units that are built over two floors. Units range from 47 Sqm to 97 Sqm. Real Estate developments close to Lumphini Park and the BTS skytrain system tend to have higher values as the land is far more expensive.
Note that there are restrictions on buying property in Thailand for foreigners. If you are buying into a property project, then foreigners are only allowed to hold 49% of the units being sold. Speak to attorney in Thailand about this and how best to manage your property. Note also that placing property in the name of a Thai company does bring up the possibility of a tax issue in Thailand. Take proper legal advice in this regard.
There are a number of property projects in Thailand and Lumphini is only one of the districts in Bangkok where there are condominium units being sold. Search this website for other properties and districts in Bangkok such as property in Pathum Wan and as well as property in Chom Phon in Bangkok.