Bangkok – known for its eclectic, hospitable as well as amenity-rich environment – has begun to draw investors to areas outside of its city-centre. Strengthening infrastructure, chiefly through an efficient public transport system, has created renewed attention to neighbourhoods that offer accessibility to the city while providing for a considerably slower pace of life.
One such area is Huaikhwang, attracting Chinese migrants in particular and referred to as Bangkok’s ‘New Chinatown’, an up-and-coming neighbourhood that is close to Bangkok’s new CBD, housing condominiums at extremely competitive prices in comparison to the heart of the city. We take a look at some of the reasons why investors are beginning to take notice of this enclave away from the hustle and bustle of the Thai metropolis:
Unrivalled connectivity
One of the main factors to consider when purchasing an investment property is its location. Huaikhwang ticks all the necessary boxes when it comes to its centralised position. The neighbourhood provides accommodation options for those who want access to the vibrancy of Bangkok while still staying in a predominantly residential neighbourhood. The MRT system crosses along the west of Huaikhwang, connecting with Phetchaburi, Phra Ram 9, Thailand Cultural Centre, Sutthisan and Ratchadaphisek. This proximity to public transport will allow properties in the vicinity to retain their value in the long-run.
Roads in the area have much wider lanes when compared to the narrow ones of Sukhumvit that tend to cause traffic congestion. Traffic in the area is also further eased with the construction of a tunnel that allows vehicles to circumvent peak-hour build-ups. The Sirat Expressway is also accessible through the Rama 9 road, which leads to Suvarnabhumi International Airport. This, once again, is a big advantage in ensuring that properties in the area always secure tenants who consider such factors as a necessity.
Lifestyle options
One of the biggest draws to Huaikhwang is its renowned weekday night market, providing a unique taste of traditional Thai culture, one of the few markets in Bangkok that actually caters to a predominantly local crowd. Aside from the fresh produce, cafes and even manicurists available within the market, the surrounding also offers visitors relaxation through its many massage parlours and the other eateries dishing up local spicy cuisine.
For those who prefer the modern amenities associated with entertainment and shopping complexes, there is always the CentralPlaza Grand Rama IX. The mall offers shoppers with dining, retail, cinema as well as other facilities – huge factors that will only increase surrounding property values over the next several years.
Quality accomodation at competitive rates
The increasing popularity of developments within the Huaikhwang area seems to have no signs of waning. Condominiums in Ratchadapisek are said to be increasing in price at a rate of 5 percent per year, with supply not meeting demand due to a lack of land in the neighbourhood. This will only further increase prices over the next several years, providing for an attractive investment with potentially high returns on investments.
Several expatriates are also taking notice of the advantages of living in Huaikhwang, drawn by the considerably lower rental figures compared to the city-centre. With the Chinese and Korean embassies as well as the China Cultural Center located the vicinity, property investors are easily able to let out their units to the growing working crowd .
Mirroring the rest of Bangkok, Huaikhwang will only rise in popularity in the foreseeable future. As the area garners more attention, large corporations and businesses will follow suite, eager to move to a region with lower overheads - also avoiding Bangkok’s infamous traffic congestion. For those who are looking for a property to acquire with promising returns on investment, take a look at Sansiri’s XT Huaikhwang located on the well-known Ratchadapisek Road in Bangkok.