The relocation of The Stock Exchange of Thailand to Rama 9- Ratchada has made this area a sought-after location for both commercial and residential developments.
Bangkok’s urban landscape is constantly evolving and local neighbourhoods are dynamically transforming. At present, the city is experiencing a massive level of regeneration and urban development that is inevitably leading to the rise of commercial and residential hotspots for property investors. It should therefore come as no surprise, that the capital’s multi-billion baht property industry is constantly the source of speculation!
“The next hot area” is a topic that is constantly debated and discussed. However, one area that has surprisingly received the general approval and consensus from Bangkok’s property professionals is the rising star “Rama 9-Ratchada”.
So what makes this upcoming neighborhood so special?
The area is located only a few kilometers north of Asoke (Sukhumvit’s Business District) and is currently serviced by 2 MRT Stations (Blue Line) notably MRT Rama 9 and MRT Thailand Cultural Centre. As a result, Rama 9-Ratchada has for several years established itself as a popular Thai residential neighborhood.
Its appeal primarily stemmed from its cheap sales and rental housing options that were dramatically lower than its downtown counterparts (e.g. Phrom Phong, Asoke, Nana). This modest residential boom
gradually led to the development of a local community of young working professionals looking for fast commutes and condos without premium price tags!
From these humble beginnings, Rama 9-Ratchada has snowballed into what the city’s property professionals now dub “Bangkok’s Next CBD”!
DYNAMIC COMMERCIAL & LEISURE SCENE
This initial residential momentum has inevitably led to the area developing a dynamic retail and leisure scene. With several major developers setting up large retail complexes notably, the Central Group launching Central Rama 9 and CP Land developing Fortune Town; Ratchada now also offers Esplanade Shopping Mall and The Street Ratchada. On top of this, the area offers an eclectic and vibrant nightlife with a range of dining options, bars and clubs.
Interestingly the area has emerged as an alternative office and business location. This trend initially started with the relocation of The Stock Exchange of Thailand (SET), now located at 93 Ratchada. The move of such an important financial institution into the area, in turn encouraged numerous local and international businesses to follow suit. Rama 9- Ratchada is gradually welcoming a multitude of Grade-A Office Towers, which include the newly developed Grade-A “AIA Capital Center Building”.
However despite all these exciting transformations, the reasons for the hype do not end there!
In the next few years the area will welcome the new MRT Orange Line. This extension of the MRT network will connect the area to both the Min Buri District and Taling Chan District thus transforming the neighborhood into an interchange similar to Asoke.
To top it off, the area is about to welcome an impressive collection of commercial, residential and office developments from a number of developers; the most notable being Grand Canal Land’s extensive pipeline of projects that will spread over a 73-Rai Plot with total construction costs of over 35 Billion Baht!
From this ambitious mega-project led by G Canal Land will emerge developments such as “G Tower, The 9th Tower and The Super Tower”. It is important to note that “The Super Tower” will be a towering 615 meters-high, effectively making it the tallest building in Bangkok!
HOW CAN ORDINARY RETAIL INVESTORS PROFIT?
The neighborhood has yet to experience the full benefits of all these developments and urban transformations!
Therefore, it is currently not too late to invest into the property options offered by the neighborhood. Interestingly, numerous high-profile developers have launched quality projects in the area. These include numerous public listed companies such as Sansiri, AP (Thai), Ananda, Pruksa and Areeya. All these developers are offering entry-level condo developments with competitive price points. While the area’s developments have experienced steep rises in price per square meter, condo options are still relatively better-priced compared to prime CBD locations.
This combination of convenient travel options, vibrant commercial environment and relaxing lifestyle venues is generating enormous positive momentum for the Rama 9-Ratchada neighborhood!
This is without a doubt, an area to watch (and possibly invest) over the coming years!