Bangkok is increasingly becoming the city that has it all. From its fine international cuisine and shopping haunts to opportunities for employment. More and more people are recognising the draw of the eclectic city - be it for work or even a refreshing change in a tropical setting.
Among the many districts that have sprung up over the last decade, the up-and-coming Saphan Mai has recently began to attract attention, partly due to its advantageously close proximity to the Don Mueang Airport, accessible within a 5 minute drive or 13 minute bus ride. We take a look at the area that is already rapidly emerging into a lifestyle and business hub, providing many reason why the move there could be an advantageous one:
Development plans in the works
Location wise, Saphan Mai is close to the neighbouring Bang Sue famed for its Grand Central Station that will be integral to the country’s high-speed rail network. The capital's main rail transport hub is now almost 50% complete, promising to be a hub for both international and inter-state commuter traffic. Not only will this push up prices in the surrounding area exponentially, the area’s status as Thailand’s national hub for commuters will ensure that a host of lifestyle options and businesses will spring up in the district in the near future. Saphan Mai’s potential rests partly on these developments that will see an influx of trade and focus on the surrounding areas over the course of the next year.
Residents in Saphan Mai are also eagerly awaiting the completion of the BTS Northern Green Line connecting 15 new stations including Saphan Mai, Phahon Yothin and Khu Khot stations that will become operational in 2020. The first station, in this extension, Ladphrao Intersection, is expected to open in 2019. Future BTS extension plans include a further 16.5 km, nine station extension from Saphan Mai to Lam Lukka, promising to make the area a central point for many visitors and residents in Bangkok.
After the announcement of the infrastructure development plans, land price and selling price in the area saw an approximate 20% increase in value. As the developments progress, we can expect these figures to continue upward.
Necessary amenities
Many visitors and residents of Thailand would say that its many markets add to the country’s vibrancy considerably. Saphan Mai’s 24-hour Ying Charoen Market offers shoppers with a host of fresh food options as well as stalls that serve Thai local dishes. The market also caters to those looking to purchase clothing at a bargain.
The area is also in close proximity to popular areas such as Central Ramindra, Central Ladprao, Union Mall, Chatuchak market and The Crystal Park, providing residents with a host of lifestyle destinations easily accessible by public transport.For shoppers, there is always the Big C supermarket on Phaholyothin Rd, offering locals with fresh food, toiletries, clothing, accessories, electrical appliances and a host of other everyday necessities.
Investment opportunities ripe for the picking
Property values in the Saphan Mai area are projected to be on the accent, especially after the surrounding infrastructural developments reach their respective completions. The area is also close to the Bhumibol Adulyadej Hospital, Central General Hospital and Northern Bangkok University as well as other educational institutes, factors that will add to a property’s value in the long run due to professionals relocating to the area for work. All this adds to the impressive rental yields of 4% to 5% and capital gains of 6% to 7% experienced in the area.
One such property to keep one’s eye on is The BASE Saphanmai, launching in September 2018. The development will encompass a lobby lounge, sky pool and garden, a co-working space as well as all the other amenities associated with Sansiri’s signature quality condominiums.