End of skytrain move could influence Bangkok condo market

Bangkok’s 30-day BTS skytrain cross is coming to an end. As a result, commute costs will rise significantly for individuals who have to travel lengthy distances on the skytrain every day. This may have a significant impact on Bangkok’s condo market.
According to Sena Development PCL, the discontinuation of this skytrain cross is going to extend the demand to live around stations close by workplaces. Sena’s managing director Kessara Thanyalakpark explained that the 30-day cross provided a set price, which meant that patrons had many extra options when it comes to apartment location. But, now with the discontinuation of the move, she predicts that these options will diminish.
“After this pass is discontinued, the gap between rental and office will affect travel cost…In the previous apartment consumers had many decisions, not only one or two stations. All alongside the road the typical fare was fastened by the 30-day pass.”
For instance, buyers who work in the Asoke space may decide for a bigger condo across the cheaper Phraek Sa skytrain station, quite than needing to purchase a smaller one in the costlier On Nut, which is far nearer to their workplaces.
But, journey bills could enhance by as much as double after the discontinuation of the 30-day cross. Kassara says riders can expect the fare to jump from around 3,000 baht per month to as a lot as 6,000-7,000 baht per month. She additionally identified that this could imply rental development in some new areas could increase.
“The radius of rental areas from the buyer’s office will be smaller, reducing from as a lot as 10 stations to only a few stations…People will purchase a home close to their workplaces.”
Kassara additionally expects that a minimize in condo costs and fewer new items being built will contribute to the sluggish apartment market starting to decide up again.
Wacky , Sena announced their 385 million baht acquisition of apartment developer Pataranan Asset. Sena will proceed Pataranan’s venture, which is constructing low-rise condos on Charoen Nakhon Road worth 2 billion baht. Sena is also investing in rental initiatives on Rattanathibet Road and in the Bang Sue-Tao Poon space. These initiatives together represent a total investment of over 3 billion baht..

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