We got this question because some of our viewers on our YouTube channel have been seeing our videos about The LINE Phahonyothin Park by Sansiri.
Chatuchak is well known for its weekend market. However, it is also a developing area close to the upcoming Bang Sue Grand Station. The area is developing and there are many offices in the vicinity. There are broadcasting and TV stations nearby and there is a Department of Transport Building and Securities and Exchange Commission in the area. Just further up north from Chatuchak is Phahon Yothin and Ladprao. This area is currently very popular with local Thais. Central Plaza Ladprao is the largest Central Plaza in Bangkok. Union Mall is located just opposite Phahon Yothin MRT Station.
The growth in the area should be driven by the upcoming Bangsue area. Sansiri has another project, The LINE Wongsawang which is west of Bangsue. We find that the area east of Bangsue, the Ladprao, Phahon Yothin and Chatuchak area, is more vibrant and progressing much faster. There are shopping malls, business offices and a lot of commercial activities in this area. This is the reason why we did not promote The LINE Wongsawang but we are taking a more positive stance to The LINE Phahonyothin Park. Also, another project which we previously dealt with, Maru Ladprao, was sold out in a couple of months after it was released.
Here is a walk which we took from Phahon Yothin MRT Station to Central Ladprao.
Looking at online listings, the one bedroom units range from monthly rents from about THB17,500 to about THB25,000. There are some that are asking for about THB30,000 for a one bedroom unit but we do think that that might be a bit of a stretch. As always, we will advise clients to be familiar with the popular online listing portals to take a look at the commanding rents at this current moment to better understand the type of yield that you will be receiving down the road.
Kevin did a review on The LINE Phahonyothin Park and he touched on the surrounding area pretty well. You can view the video here: