As the Thonglor area becomes saturated with residential projects, nearby Sukhumvit Soi 36 – 38 is the new choice for property firms to develop luxury condominiums as demand remained strong in this part of Bangkok.
Sukhumvit Soi 36 – 38 is opposite Soi Thonglor (Sukhumvit 55). The location offers easy access by car to Sukhumvit and Rama IV Road. The residents here enjoy similar amenities as those living in Thonglor.
Traditionally, most of the development activities have focused around Sukhumvit Soi 55, which is widely considered the prime Thonglor. However, the continued strong demand for housing in this classy neighborhood has led to a spillover effect as the property prices along Sukhumvit 55 soared. Ekamai and Sukhumvit 36 – 38 are experiencing the positive effect of this spillover of demand as land-hungry developers look for land to build condominiums.
Price Trend in Sukhumvit Soi 36 -38
The rental and the resale market prices have generally been experiencing an uptrend since 2012. As an investor, you would be glad to know that the rental market is growing healthily and more importantly, there is a robust secondary market with a steady growth in demand for properties over the years. This signals the ability for you to execute your exit strategy when the need arises.
As it stands now, base on the average rent per square meter and the price in the area, a gross rental yield of 5-6% is achievable.
How Have The Prices Appreciated For Existing Developments?
Compared to Soi Thonglor, there really isn’t as many quality developments in this area as yet. However, this is slowly changing as major developers such as Sansiri, AP Thai and Ananda are aggressively seeking out developable land plots in this area.
Let us have a look at some existing developments and how their prices have fared since launch till now.
A Good Value Alternative To Thonglor – Ekamai For Investors
Compared to the condo prices in Soi Thonglor where it averages THB250,000 per square meter and the ultra-luxury condo breaching THB300,000 per square meter, investing in Sukhumvit Soi 36 -38 at sub THB200,000 per square meter does represent good value for investors.
There is much upside to be gained as long as the urbanization of Rama IV Road continues and gain momentum.
However, a word of caution to investors is to make the right call on the developer and quality of the project.
Drawing inspiration from lofty mountains, glorious breezes, and rays of sunshine, oka Haus is a 47-floor condominium residence that rises tall to bestow upon you a glorious view of the Chao Phraya River. As their theme suggests, oka Haus would be your sanctuary to retreat from the hustle and bustle of the city to relax your body, and rejuvenate your mind and reinvigorate your soul.
How would you like to come home to a view like this?
or play host to your friends on the rooftop while soaking in the B-E-A-U-T-I-F-U-L Bangkok city skyline?
If you like what you are seeing so far, read on as I give you the low-down on this wonderful development.
Project Summary
This is the very first Haus that is a high rise. Previous projects such as Mori HAUS and taka HAUS are low rise, low-density developments.
oka HAUS is a freehold development and is slated to be completed in the year 2021.
The Location And Accessibility
While the development is named oka Haus Sukhumvit 36. oka HAUS is within the Sukhumvit 36 vicinity but do note that the entrance is actually from Rama IV Road. The access from a major boulevard allows Sansiri to build high rise for this plot of land.
In terms of accessibility, oka HAUS is:
1.2km to Thonglor BTS
2km to Queen Sirikit National Convention Centre (QSNCC) MRT
5-10 minutes to Charlem Mahanakhon and At Narong expressway
Amenities are well within your reach when you stay at oka HAUS.
Medical Institutions:
Theptarin Hospital
Sukhumvit Hospital
Kluaynamthai Hospital
Samitivej Hospital
Education Institutions:
Kukia Kindergarten School
Kobato International Kindergarten
Bangkok Prep International School
Kids Kingdom International School
Wells International School
Ivy Bound International School
Bright Skies International School
Bangkok University
Major Shopping Malls
Big C
Tesco Lotus
Suanplern Market
Rainhill
K Village
A Square
Funarium
Major Cineplex
Bambini Villa (open 2018)
Gateway Ekamai
The Emporium
The EmQuatier
Major Office Towers
One Bangkok (under construction)
TCC Mega Project (under construction)
FYI Centre
Sirinrat Tower
Richmond Office Building
Manarom Building
Esso Tower
Green Tower
Maleenont Tower
(besides the existing 26,200 white collar workers, we are expecting an estimated 95,200 more from now still 2021 as new offices are completed)
The Development
Besides location, the number 1 reason why all previous HAUS series sold well was that of the assured quality as well as the facilities and design concepts behind it. Sansiri has spared no efforts in designing a home that would make you the envy of many.
To understand why even the locals queue up for hours under the rain and sun to get their hands on HAUS, we have to appreciate the well-executed design ideas put in place by Sansiri. Let me share with you more.
Reconnect With Nature – Play Space
Completed by an area to strengthen learning skills, the Educational Playground has been designed in collaboration with Samitivej Hospital. Here, children are able to play on the stairs and gently slide down onto the supple grass, giving them the opportunity to strengthen their muscles and decision-making skills, as well as offering a place where inspiration may be garnered in a lush green environment.
Enter With Ease – Welcome Lounge
Experience the elegance of a lobby that draws inspiration from a valley, hewn from the mountains across time by a never-ending breeze to form the perfect space in which to sit back, relax and recharge for the days ahead.
Tranquil Escape – Peace Pool
Release the fatigue in a 40 meter swimming pool, affording unlimited 180 degree views, recline in the garden side Jacuzzi or catch some rays on the Sun Bed under clear blue skies. Children are also able to find their own amusement in a dedicated kids pool.
Go With The Flow – Leisure Pool
Discover the advantages of Sansiri’s first ever condominium Hydrotherapy pool. Enjoy life complete with Bubble Pool to release the tension in your feet on up. Massage Seat for your back and thighs, Water Curtain for shoulder and back massages through a flowing stream for the ultimate vitality. Walking Corridor to aid stability, and a Spa Bed to lie down in and immerse completely for the ultimate rejuvenation. There is even a steaming Heated Pool to relax the muscles to the utmost amidst the greenery of nature.
Walk In The Clouds – Sky Lounge
Gaze over the horizon and city view from the Sky Lounge on the 47th floor, where you can clear your mind and gain a fresh outlook on life.
The Co-Working Space affords the opportunity to work endlessly with wireless charge stations for phones to carry on conversations without interruption.
The Co-Kitchen is ideal for those looking to unleash the inner chef, utilizing ingredients from the Farmshelf grown using intelligent technology ideal for healthy menus.
Renewal Of Perspective – Sunset Deck
Experience the sky like never before from the top floor of the building, as the sun sets over the river’s edge, emanating a feeling akin to basking among the meadows of a valley.
Reach For The Stars – Star Scene Space
As the sun sets over the horizon, the opportunity to while away the hours and relax with an outdoor movie presents itself. Take in the refreshing breeze, akin to resting on the summit of a mountain with the stars so close at hand.
Smart Living Home Automation To Enhance Your Quality Of Life.
Floorplans
This is a typical floor plan for oka HAUS. The 2 bedrooms units are located at the corners with 270 degree views. The premium facing would likely be the south-facing units where you will get the river view.
The surrounding is generally low rise but there might be 2 buildings coming up on the east and west facing. To be very sure of your view, it is safer to get a unit located on the 30th level and above.
For international buyers, the property will come fully furnished. From my previous experience with taka HAUS, you can be assured that Sansiri fits your property with quality.
I love this extended glass balcony concept. It simply oozes class and will definitely be an attraction for the urbanites.
Investment Potential
I believe a good portion of international buyers will be buying for investment.
Who can I rent it to? Is there potential for capital gains? You might ask.
To know if this is the right investment for you, you ought to understand the growth that is happening along Rama IV Road and the neighborhood of Sukhumvit 36-38.
There’s no 100% perfect investment property. I believe a major objection from some investors would be the fact that oka HAUS is not within walking distance to any BTS or MRT. So if you are 100% insistent on being next to rail transport, then this property is not for you.
(on a side note, oka HAUS will have shuttle service for the residents to Thonglor BTS)
Secondly, while a lot of changes are happening to Rama IV, all these will take time. In other words, in order to fully reap the reward of the transformation, you have to give it time to mature. If you are in it for the short term profit, then again this is not for you.
oka HAUS is launching globally end November
Pre-sales have already started. And I understand that over in Bangkok, the showroom is packed. At a price starting from 3.69MB*, this is a price point that is very affordable even for the local Thais.
You should consider making your move before all the choice units are taken. The last time Sansiri launched taka Haus, it was 80% sold over 1 weekend.
Sansiri Plc, one of Thailand’s largest property developers by sales, sees China becoming its biggest foreign revenue source as early as this year, the latest sign that the world’s largest property-buying binge is undimmed by China’s tighter capital controls.
The Bangkok-based developer has seen no cancellations from Chinese buyers since the world’s most-populous nation imposed stricter rules to deter residents from buying overseas property, Head of International Business Cobby Leathers said in an interview. Sales from China are on track to double to USD 106 million this year, and estimated to jump another 32 percent to USD 140 million next year, according to the firm.
For Sansiri, the growth means China is set to overtake Hong Kong as its top foreign market next year, President Srettha Thavisin said. Sansiri is “highly reliant” on foreign buyers and as much as 40 percent of the developer’s sales are from buyers in Singapore, Hong Kong and China, according to RHB Securities.
Tighter capital controls have done little to dent the appetite of Chinese buyers who already helped drive prices higher across the globe. While definitive data are hard to come by, real estate brokers including Knight Frank LLP, Savills Plc and domestic firm Shiju report rising purchases of overseas property this year by Chinese buyers.
Cheaper Properties
Stricter enforcement of quotas to convert yuan for property purchases have spurred Chinese buyers to buy cheaper properties, helping developers in markets where home prices aren’t inflated. Most of Sansiri’s Chinese buyers bought homes priced between 1 million-2 million yuan, or USD 150,000 to USD 300,000, Leathers said.
Those prices are “only a third or half of those in Chinese cities,” he said.
Sansiri is the second-biggest Thai developer by trailing 12-month revenue, according to data compiled by Bloomberg. China will likely contribute 40 percent of overseas revenue overseas next year, eight percentage points more than in the first half of this year, the firm said. Sansiri is adding three more Chinese offices in Shanghai, Guangzhou and Shenzhen to its existing Beijing foothold to expand its local network.
“If the ban hadn’t been in place, we would have gone a lot more aggressive in marketing here,” said Thavisin.
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