The Pathum Wan district is home to many of Bangkok largest shopping centers such as MBK and Central World. The area is also home to many large businesses and it is viewed as part of the main CBD in Bangkok. If you are looking at buying or renting real estate in Pathum Wan then you should be ready for sticker shock for rentals. 50,000 THB is the minimum average in this region as most rentals are between 50,000 THB and 100,000 THB for a condominium unit.
Pathum Wan District Property
The average sale price in the Pathum Wan district was 106,000 THB per Sqm in 2015 and by 2017 it moved to 180,000 THB per Sqm. This had increased to 192,000 THB per Sqm in 2019. You will note that the value of the property had almost doubled on average during this short time frame. Rentals have seen the same in the Pathum Wan property market.
Rentals in 2015 was 590 THB per Sqm and moved up to 612 THB in 2017 and has now reached 671 per Sqm in 2019. So even though the property prices had increased this has not filtered down that well into the rental market. Most of the investment properties on sale tends to be waiting on the property value to increase and the rental mainly as a dividend than part of the main investment increase.
Some of the largest projects done recently was the Saladaeng One project which is located close to the MRT Lumpini and these have been selling for about 43,000,000 THB per unit which is a two-bedroom unit with 118 Sqm of space. With a good location and with built in cupboards the units should sell very well. SC Asset Corporation have been marketing them for a while.
The other projects in the area than are new are 98 Wireless which offers units at 85,000,000 THB for a two-bedroom unit and 119 Sqm close to the BTS Ploen Chit. The last project of note in the area is the Craft Ploenchit development with one bedroom and 40 Sqm of space at 10,000,000 THB. These projects are well known in the area and are the latest condominium developments. Note again that Pathum Wan is located close to Klong Toei and you might also want to look at property in Klong Toei for more investment opportunities.
One last note for foreigners is that it is always best to seek legal advice from a property lawyer in Thailand and the property market is not well regulated and fraud does occur. Always speak to a property lawyer and have a due diligence done on the property before you decide to buy and also ensure that the location is to your liking.
Traffic jams in Bangkok are common and you might want to take this in consideration before you decide to buy. Also note that foreigners are not allowed to own more than 49% of the units in a building so you have to ensure that your unit is part of the 49% of units being owned. Speak to the developer, authorized sales agent or developer about this.