BRANDED RESIDENCES BANGKOK
There is an increasing trend in the luxury property market in Bangkok. Why have the confidence levels been rising for branded residences? There has been further popularity in leasehold purchases over freehold, but more on that in upcoming articles.
The concept of branded residences began back in 1927 when on Fifth Avenue a Sherry-Netherland Hotel opened its doors. Since that initial opening over 400 different branded residences have emerged all over the globe and continue expanding. With international brands such as Ritz-Carlton, Marriott International, Four Seasons Private Residences Bangkok, Banyan Tree Residences Riverside Bangkok, the city has become a hub for branded residences.
In 2011 the first branded residences arrived in Bangkok. The St. Regis Bangkok was the first building and had a total of 53 units. This was closely followed by The Sukhothai Residences begin completed in the same year with a further 196 units. Since the completion of these projects Ritz Carlton, The Residences at Sindhorn Kempinski Hotel Bangkok, Four Seasons Private Residences Bangkok will bring the total of units in. The branded residences market to over 1,300 units.
SO WHY BUY BRANDED?
The clients looking at branded residences believe that the brand is one of the key selling points. They believe that association to a brand underwrites the quality of the project. Thus ensuring the quality, integrity and longevity of the project. Essentially the brand are completing due diligence for the client.
HOTEL FACILITIES FOR YOUR HOME
The facilities that come along with a branded residence are often a big decision factor for the client. This coupled with being the right brand, specification, price bracket, location and design. Using the hotel stylesque facilities and services ensures that living in a branded residences can simulate five star living with the comforts of home.
SO WHAT DOES THIS ALL COST?
Branded residences come at a price. Many clients believe that this price is worth paying in order to receive the extra services and quality creating true luxury living. In Bangkok alone branded residences units are available for purchase from twenty million Thai Baht all the way up to four hundred million baht depending on the size of unit and location with the riverside becoming ever more popular.