Mr. Phanom Kanjanathiemthao, Managing Director, Knight Frank Thailand Co., Ltd., said that the high potential location on Sukhumvit Road of Thonglor-Ekkamai has always been among the top locales, thanks to several supporting factors. First, it is located in the heart of the city, with access from various routes via multiple modes of transportation, from private cars to the BTS mass transit line and public buses. Moreover, the small sois and roads criss-crossing Thonglor-Ekkamai provide access to important roads and many sois such as the main Sukhumvit Road, Rama 4 Road, Petchaburi Road, Si Rat Expressway, Chalong Rat Expressway, Sukhumvit 53 and Sukhumvit 71 (Pridi Banomyong). The location is easy for both those who travel by private vehicle as well as those who prefer public transportation. In the future when the Grey Line Stage 1 (Watcharaphol-Thonglor) opens for service, it will enhance the area’s transport connectivity and greatly boost the value of the area.
Map of Facilities in Thonglor-Ekkamai and its Surrounding Areas
In addition to the convenience of travel, Thonglor-Ekkamai is also known as a neighbourhood that offers a comprehensive high-end urban lifestyle, providing enjoyable and modern living experiences through community malls, spas, family-oriented fitness centres and gyms, co-working spaces, green spaces for recreation, furniture stores and art galleries with home décor. The area also houses premium-level international restaurants and trendy cafés on both sides of the roads.
The sub-streets, lined with trees and greenery, impart a sense of the slow life. For families with children, Thonglor-Ekkamai and its neighbouring areas feature high quality educational institutions that meet international standards, catering to the varying needs of each family. Such schools include the New Bambino International Kindergarten, Trinity International Kindergarten, Kobato International Kindergarten, Adventist Ekkamai School, Wells International School, Ekkamai International School, etc. These schools serve students from nursery to elementary and secondary school levels.
Thonglor-Ekkamai and its nearby areas are also equipped with leading hospitals that provide a team of medical specialists and other staff available 24 hours a day, including Samitivej Sukhumvit Hospital, Camillian Hospital, Sukhumvit Hospital and Petcharavej Hospital. And for those who have pets, a variety of animal hospitals serve the area, including Thonglor Animal Hospital, Ekkamai Animal Hospital, Sukhumvit 49 Veterinary Hospital, etc.
With its excellent location and full range of premium facilities, Thonglor-Ekkamai attracts many people, Thai and foreigners alike, who relish the luxury of one of Bangkok’s best neighbourhoods. Not only is the area rich with much character, Thonglor-Ekkamai also complements an urban luxury lifestyle with luxurious high-end condominiums scattered throughout the area.
The residents of this location, in addition to Thais who enjoy living in the comfort of the city centre surrounded by excellent facilities and amenities, include a large number of foreigners. For them, this is “home” as it readily offers everything for a good quality of life. The demand in the Thonglor-Ekkamai area does not seem to stop; this is clearly seen in the continuous opening of new stores and new residences in this location.
Today, this area is becoming increasingly popular, growing along with the relentless development of the city. Get into the full swing of life in Thonglor-Ekkamai by reserving a condominium – whether you purchase a unit for your own residence or as an investment, it is well worth it. This is a great location for steady growth that will command even greater value in the future.
As for the Thonglor-Ekkamai condominium market, covering Sukhumvit sois 55 to 63, based on a market study conducted by the real estate research team of Knight Frank Chartered (Thailand) Co., Ltd., it was found that there is a cumulative supply of 6,112 units from 2008 to the first half of 2018.
The year 2011 saw the greatest surge in supply with 1,268 units, an increase of 365% compared to 2008. From 2012 to 2014, the market experienced a downward adjustment, with an average of 330 units of new supply per year; its lowest level was in 2015, with 88 new units. The market rebounded in 2016 to 2017 with an average new supply of 914 units. During the first half of 2018, 220 new condominium units were launched into the market; as most operators plan to launch new projects during the second half of the year, it is expected that at least 2,800 units will be launched this year.
If so, this means that in 2018, the new supply will reach up to 3,000 units, the highest level in 11 years. It worth nothing that more than 40% of all new condominium units are located in the Ekkamai area; this clearly signifies that the location has gained the trust of industry operators – and its potential is increasing with a number of factors: full facilities, within easy reach of Thonglor and more accessible prices.
Cumulative Supply in Thonglor 2008 – 2018F
Cumulative Supply in Ekkamai 2008 – 2018F
On the demand side, condominiums sold in Thonglor-Ekamai have been well received by both Thai and foreign buyers. Projects launched between 2008 and 2016 have now sold out. Condominium projects launched in 2017 and the first half of 2018 currently enjoy average sales of 70% and 35%, respectively.
The sales of new projects in the first half of 2018 has been lacklustre due to the fact that buyers are waiting for the new projects to be launched in the second half of the year, to compare prices before making any purchasing decisions. As for cost, the average price of new projects launched in Thonglor-Ekamai at the end of June 2018 was approximately 248,000 baht per square metre. Thonglor has an average selling price of approximately 317,000 baht per square metre while Ekamai has an average offering price of 180,000 baht per square metre.
Demand Supply and Cumulative Sales Rate of Condominiums in Thonglor 2008 – 2018F
Demand Supply and Cumulative Sales Rate of Condominiums in Ekkamai 2008 – 2018F
Average Asking Price of New Supply Per Year in Thonglor (Baht/Sq.m.)
Average Asking Price of New Supply Per Year in Thonglor (Baht/Sq.m.)
