LATEST NEWSBangkok Super Luxury Penthouse Quarterly Report (Q1, 2021)

April 16, 2021by npp-admin0
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The Market

The super luxury penthouse property market in Bangkok got off to a resounding start this year. With multiple sales coming in the highest end of properties.

Movements

There have been significant sales in Bangkok. This has included Aman Nai Lert Residences with its 1,100 sq.m penthouse being sold around 800,000 THB per square meter. Scope Langsuan also sold its penthouse 427 sq.m. but the price has been held as confidential for now.

NPP Realty & Consultants have seen significant interest in both rentals and purchases. For example The Sukhothai Residences Bangkok, 1,183 sq.m penthouse at 580 MB. The Residences at Mandarin Oriental has a Duplex available at 709 sq.m for 458,665,000 THB. The final two penthouses of note in the market are Magnolia Waterfront Residences with a 346 sqm penthouse for 260 MB. The Sky Villa at The Ritz-Carlton Residences Bangkok has drawn significant interest with 354 sq.m and a price of 200 MB.

The rental market has also been making a big comeback during this quarter. The Residences at Sindhorn Kempinski Hotel Bangkok rented out a four-bedroom property for 350,000 baht per calendar month.

Changes

The biggest market shift from Q4 of 2020 is the NPP Realty & Consultants have seen customers vying for space in the urban areas. Before people were comfortable utilizing shared open spaces, now everyone wants their own private space and are willing to pay appropriately for it. Notably, many of the units drawing interest are in the Waterfront area near Icon Siam and other significant areas especially with the newly opened Gold Line offering access via the sky train.

Future

At NPP Realty & Consultants are predicting a further upturn in sales during Q2. This is owing to the further Covid restrictions in place. People want space and want to experience freedom within their own home which is why they will no longer accept anything but the best. With the two new mega projects currently underway which include Dusit Central Park, Bangkok and The One Bangkok. With the level of new projects being introduced it is sure to add some interesting competition into the field ensuring that the super luxury penthouse market is as competitive as ever.

We at NPP Realty & Consultants are always on hand to offer professional, impartial advice with the latest information possible to any who would like our support. We will continue to monitor the super luxury penthouse market in Bangkok so you don’t have to.

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