The Ladprao – Phahon Yothin area is fast becoming a popular area of residence. There are on-going developments that will give residents in this area access to rail transport and a multitude of lifestyle offerings.
Let’s take a look at the major developments that are driving growth in Ladprao – Phahon Yothin.
Ladprao MRT Interchange
Currently, Ladprao – Phahon Yothin area is served by the Green BTS Line and MRT Blue Line, which runs to Asoke as well Bang Sue, the upcoming high-speed rail station. Many bus routes also service the area, and there are two expressways in the vicinity – Sirat Expressway and Uttraphimuk Toll Way (Don Mueang Toll Way).
Soon to be, Ladprao will be the interchange between the current Blue Line and the new Yellow Line.
The line heads east along Lat Phrao road to Bangkapi junction where it will interchange with the proposed Orange Line. The line then heads south along Srinagarindra Road to Hua Mark where it will interchange with the Airport Rail Link (Phattanakan station) (Phase I).
From Hua Mak the route continues south along Srinagarindra Road past Bangna-Trat rd all the way to Thepha Rak rd in Samut Prakhan Province. The line then heads west along Thepha Rak Road before terminating at Samrong where it will interchange with the BTS Sukhumvit Line (extension under construction) (Phase II).
We all know the positive impact transportation nodes have on property prices in the area, don’t we?
Bang Sue Grand Station
5 stops away from Ladprao along the Blue Line is Bang Sue. Bang Sue is currently undergoing a major transformation to become ASEAN’s largest rail transit hub. The Bang Sue Grand Station, a mega integrated project is being constructed. This place will be the ultimate interchange for the various rail transports as well as the highly anticipated high-speed rail, which will be running all the way up north to China.
Chatuchak Weekend Market
The global renown Chatuchak Market. The 35-acre (68-rai) area of Chatuchak is home to more than 8,000 market stalls. On a typical weekend, more than 200,000 visitors come here to sift through the goods on offer.
Situated next to Phahon Yothin MRT, Central Plaza Ladprao mall is one of Thailand’s largest and most popular malls. It is also directly connected to the Centara Grand Hotel.
The Potential Of Ladprao – Phahon Yothin
According to reports by PLUS Property, a leading Thai real estate agency and research firm, major developers are now snatching up good land plots in the area to launch condominiums. Resale prices have also risen 20%-40% over the last 5 years.
The rental market is also seeing strong returns of 5%.
More Grade A condominiums are being launched and prices are hitting THB180,000 per square meter and the upward trend is set to continue as demand for housing in the area increases.
From another report by Knight Frank in March 2017, all the positive developments are driving demand for housing in the area but supply is relatively low at the moment.
source: Knight Frank Thailand
There is potential for real estate in the Ladprao – Phahon Yothin area. The limited available land for development means there is an opportunity for investors to buy a property, be it for investment returns or own stay.
For now, the majority of the purchasers are end users. However, the rental demand is getting stronger as the area develops. According to Plus Property, the occupancy rate is very high at 90% – 95%. Its status as a popular residential area has also meant that independent restaurants, eateries and coffee shops have mushroomed in the area.
This positive trend is likely to continue as the mega-developments come to fruition.