The uber-luxurious 98 Wireless is replete with superlatives making it a natural landmark in Bangkok’s cityscape.
Text by Jan Yong | Photography by Sansiri
With a land value appreciation rate of 70% per year on Wireless Road in Bangkok compared to the 33% p.a. recorded by Silom and Sathorn Roads, any investor would rush in without a second thought. However, there is a small detail that might prevent most from staking a claim there. If you don’t mind not renting out a condominium unit that you had bought at Baht 550,000 per sq m, then you are the right type of buyer – the type who buys for keeps and prefers to stay there (in addition to your other properties elsewhere in the world).
Buying a piece of land at Wireless Road is akin to buying a goldmine – the value is bound to skyrocket the longer you keep it. Developer Sansiri Public Company Limited had acquired the 0.83 acres of land there in 2010 for a then record price of Baht 1.5 mil per sq wah. By 2017, the price is expected to almost double to Baht 2.8 mil per sq wah, reckons Chief Executive Officer and Co-founder of Sansiri, Apichart Chutrakul.
Ask any Thai whether they have heard of Sansiri and you’ll probably get a positive nod of approval, says a Bangkok-based property consultant. With over 30 years of experience delivering high quality projects, this developer has established an aura of luxury and durability. The Sansiri name commands so much trust and goodwill that even before the official launch of 98 Wireless slated for October this year, it has already sold 20% out of a total of 77 units as of March. Many of the buyers are repeat customers who had bought even without seeing the plans or visiting the site. More tellingly, an old loyal customer had no hesitation at forking out a princely sum of Baht 600 mil for the top 2-storey Super Penthouse, aptly named “The One”.