Property prices in Singapore are finally on the rise after what seemed like an eternity in the doldrums. And while there is some excitement about this, when you compare CBD condo quality and price between the island and Bangkok, the Thai capital offers more.
Investors are attracted to the affordability of Bangkok condominiums, but there is still a sense that they don’t provide the same quality as those found in Bangkok. That couldn’t be further from the truth. Bangkok condominium units are just as good, if not better than their Singaporean counterparts.
From a market perspective, the price of condominiums in Bangkok could grow by as much as eight percent in 2018, a figure surpassing the predicted price growth in Singapore this year.
With that in mind, let’s compare CBD condo quality and price using one of the Singapore’s most talked about projects, V on Shenton, with a few Bangkok properties currently listed on Thailand Property.
V on Shenton
Unit – 1 bedroom / 42 square metres
Price – THB 35.7 million (SGD 1.5 million)*
Location – Downtown
Developer UIC has spared no expense in creating V on Shenton, the firm’s flagship project. There are 510 units in the 51-storey mixed-use development that boasts three levels of sky gardens, retail space and a full range of facilities. V on Shenton is situated upon the fringe of Singapore’s Central Business District with two public transit stops nearby.
Residences are available on a 99-year leasehold basis. The developer claims units will provide some of the best views in all of Singapore. The condominium is certainly a marvel and offers something different from what’s on offer.
*Figured based on the average asking price of a 1-bedroom unit currently available on the resale market.
Unit – 1 bedroom / 46 square metres
Price – THB 8.5 million (SGD 356,689)
Location – Silom
For the price of a single unit in V on Shenton, one could grab three units in Lofts Silom from developer Raimon Land. The 37-storey condominium is available on a freehold basis and is within walking distance on Bangkok’s Central Business District.
The features of Lofts Silom matchup quite favourably against those found in V on Shenton. There is an infinity-edge swimming pool, sky deck offering great views of the city and a two-storey fitness centre. The ground floor features a large garden area providing residents with their very own oasis in the city.
Ashton Asoke-Rama 9
Unit – 1 bedroom / 44 square metres
Price – THB 12.7 million (SGD 534,000)
Location – Rama 9
Located in Rama 9, Bangkok’s rapidly growing second business district, Ashton Asoke-Rama 9 is strategically placed for the professionals who now work in this area. It is steps away from the MRT Blue Line as well which makes getting around the capital a breeze.
The two-tower development is architecturally stunning and the firm behind the project, Ananda Development, is promising to bring a new standard of luxury to this part of Bangkok. For the price of one unit in V on Shenton, you could purchase a pair of one-bedroom units in Ashton Asoke-Rama 9 and still have some money to spare.
KHUN by YOO
Unit – 1 bedroom / 49.75 square metres
Price – THB 21.6 million (SGD 909,000)
Location – Thong Lor
Most people don’t associate Thong Lor with Bangkok’s CBD, but we couldn’t pass up a chance to mention one of the city’s most cutting-edge developments, KHUN by YOO. Developer Sansiri has enlisted award-winning design firm YOO for this 27-storey condominium that will have a total of 148 units.
The development is inspired by the industrial heritage and the distinctive lifestyle of Thong Lor. It will feature some of the most opulent amenities the city has ever seen, blowing the facilities of most Singaporean condominiums out of the water. Despite this fact, it cost less than most luxury units in the city-state.
Final thought on CBD condo quality and price
Ultimately, Bangkok condominiums have reached the same level of quality as those in Singapore. As far as price goes, Bangkok units are far more affordable than similar ones in Singapore, however, there are a few reasons for this. At the end of the day, it is important to weigh up the pros and cons of each project’s location before making an investment decision.