Life Asoke Rama 9 in Bangkok
12 Oct 2017: All units sold out!
Update: Pre-launch event 24 Sept Sunday 2-4pm. Official launch 1 Oct Sunday 2-4pm.
Singaporeans are intimately associated with Bangkok, what with the mango sticky rice, Paad Thai and Chatuchak Market that they get crazy over while there.
Traditionally, Bangkok has been associated more as a holiday destination rather than an investment destination, but things are slowly changing with the development of the country.
There’s tourism, the friendly culture of Thais and a pretty stable residential market in the city.
For those who have a bit of spare cash (read: S$100-200k) and are wondering where to put it, Bangkok may be a decent investment destination.
Not many prime developments come up in the city because of the rather developed and dense nature of it, but when there is, it usually gets snapped up by foreigners pretty quickly.
Unfortunately for the locals, because the wages are quite low compared to the 4 Asian Tigers (Singapore, Korea, Hong Kong and Taiwan), they don’t usually buy up a lot of the properties in the city centre.
Life Asoke Rama 9 is a prime freehold condo in Bangkok Central Business District with prices starting from SGD1xxk.
For those itching to get a piece of an overseas property, this is attractive compared to SGD1,xxx,xxx for Singapore properties. 🙂
Before jumping into the project details, here’s a quick introduction of Thailand and Bangkok.
How’s Thailand growing? GDP growth 3.7% year on year
GDP situation from Financial Times.
Gross domestic product rose 3.7 per cent year on year in the second quarter according to the National Economic and Social Development Board, coming in above a median estimate of 3.2 per cent from economists compiled by Bloomberg.
That figure was its highest since the first quarter of 2013 when the country recorded 5.2 per cent growth.
Growth in the hotels and restaurants sector rose 7.5 per cent year on year, while retail grew 6 per cent for the period.
GDP rose 1.3 per cent quarter on quarter, in line with the March quarter’s growth and above a median forecast of a 1 per cent rise.
And the office sector? Rents are accelerating and growing
According to JLL, the office market in Bangkok is picking up.
A healthy office market would make it easier for investors to rent out their office and residential units in Asoke Rama 9 because of demand created by multinational companies.
Bangkok: Still has legendary Charm
Bangkok retains much authenticity and charm despite it’s advancement in the past decade.
Despite its rapidly advanced development, Bangkok retains much of its authenticity and charm, making life here feel like an endless holiday.
Hop on a river ferry to grab brunch at a five-star hotel overlooking the Chao Praya River. Explore a winding alley for tasty street food.
Sip a cocktail in the latest speakeasy in Sukhumvit. Get pampered at spas with unbeatable prices.
Shop yourself out at markets and luxury malls. Pop out of town for a beach getaway a 1.5-hour drive away.
Or just laze at home, where every conceivable service can be brought to your doorstep for a fraction of what you’d pay in other major cities.
Where’s the Chinese tourists? They’re in Bangkok
Even with the Junta ruling the country with an iron fist, Chinese tourists continue to enter the country in a big way.
The country’s tourism income has grown 8% in 2017, compared to average annual growth of 3% to 5% per year. The government has set a target of 10% growth in tourism income for 2018.
In accordance with the tourism targets, the country’s tourism authority has set out on a campaign named “Amazing Thailand Tourism Year 2018
Tourism definitely remains a strong driver of Thailand and Bangkok’s growth, with The World Travel & Tourism Council (WTTC) projecting the GDP of Thailand’s tourism sector reaching that of the world’s top 10 in the next 10 years.
To achieve the 10% growth target, seven main areas of tourism will be boosted, namely sports tourism, food tourism, marine tourism, wedding and honeymoon tourism, medical and health tourism, community-based tourism and leisure tourism.
Life Asoke Rama 9 Project details
|Project name||Life Asoke Rama 9|
|Address||Asoke-Din Daeng Road, Makkasan, Ratchathewi, Bangkok|
|Developer||AP Thailand, one of Thailand’s largest developers
Joint venture with Mitsubishi Estate, leading Japanese developer
|Description||Proposed Residential Condominium Development with recreational facilities. Infinity pool, fitness and sky lounge on the top floor.|
|No. of blocks||2 blocks. Tower A and B|
|No. of storeys||42 storey (Tower A), 45 storey (Tower B), 2 units for shops|
|No. of units||1,298 in Tower A and 950 in Tower B (including 2 commercial units)
Studio size 25-27.5sqm
1 bedroom from 32sqm
2 bedrooms from 45-58sqm
|No. of carpark lots||904 parking lots|
|Capital growth and rental yields||Capital growth expected at 8% p.a. and rental yields of 6% p.a.|
Location of Life Asoke Rama 9
Located a mere 300 minutes from Rama IX MRT station and 600 metres from the Airport Link, Life Asoke Rama 9 is one of the highly anticipated launches this year. The property is located in Bangkok’s growing CBD, which is the headquarters for multinational companies such as Unilever and AIA, as well as the new Stock Exchange of Thailand. The project will also be located right next to Grand Central Plaza Rama 9, a new shopping complex.
The new Central Business District will have Asia’s tallest building, the Super Tower, which is 125 floors high. This will be even taller than ICC Hong Kong. The new CBD will be the new equivalent of Time Square in New York, Raffles Place in Singapore and the Canary Wharf of London.
Up to 70% financing available. Asoke Rama 9 is jointly developed by AP, a listed Thai developer and Mitsubishi Estate, a leading Japanese developer.