Why Upper Sukhumvit?
• Upper Sukhumvit–particular the On Nut and Phrakanong districts –might be more laid back than Mid and Lower Sukhumvit, but it’s quickly becoming one of Bangkok’s most interesting areas. With a huge selection of restaurants and cheap hotels, Upper Sukhumvit is a good place to stay on a budget.
• Upper Sukhumvit covers the area from PhraKhanong BTS all the way to Bang Na. Although the action is mostly found around On Nut, this entire area is full of great places to eat, trendy local bars and a huge selection of mid range and budget hotels.
• The Upper Sukhumvit area is covered by the BTS, with stops covering the entire area. Traffic can be an issue during the morning and evening rush hour, although getting around is rarely difficult thanks to the BTS.
• Upper Sukhumvit is cheaper and quieter than Mid Sukhumvit, with more of a local Thai feel and plenty of great places to eat, drink and explore.
• 70% of the property buyers in this district are between 25 –40 years old
• More than 90% of the buyers are university graduates
• Approximately 40% of the buyers have a family
• More than 75% of the buyers have household incomes higher than 70.000THB per month
• 50% of the buyers are entrepreneurs and executive-level office workers
Property market in On-Nut area posts strong performance
• With density and prices on the rise in the inner-city parts of Sukhumvit, On Nut’s close vicinity to central business districts (CBDs) and highway connections has led to high density and demand growth.
• The leasing market has enjoyed a 13-per-cent bump in rates, to about Bt 20,000 per month, while resale prices have risen by 30 per cent compared with 2013 and 2014.
• On Nut (Sukhumvit 77) area high demand. Home to various long-standing communities, this offshoot of Sukhumvit Road features a multitude of homes, shops and restaurants.
• The On Nut BTS station making it a major point of connection for office workers and students seeking access to the city centre
• The inner Sukhumvit zones also face the problem of limited supply and land availability, while On Nut is still capable of supporting mid-range property development.
On Nut – the place to be
• Easy access to CBD areas makes On Nut of even more interest to those exploring the condominium market, especially potential buyers and tenants who work in the city centre, while rising lease rates are propelling interest among investors.
• The condominium market in On Nut still has plenty of room to grow, and the launch of new high-end shopping malls in Sukhumvit will push even more demand into On Nut while community malls continue to rise in popularity.
“We expect On Nut to be a very lively area with rising demand for residential properties.”
Article by Bastien Wissmanns