Bangkok has been rising through the ranks among top investment destinations for the past few years, especially when it comes to real estate. Its emerging economy and rapidly developing infrastructure - with more government-supported initiatives planned - have helped it to hold its own against other major cities in Asia for returns on investments. Regularly taking the top spot on global tourism destination polls and rankings, Bangkok is a magnet for international visitors, be it for leisure or investment.
Phahon Yothin is a vast district, stretching 30 km from north to south located towards the north of Bangkok. It was known for housing Don Mueang Airport, Thailand’s first international airport and Asia’s second busiest airport in the early 2000s, making Phahon Yothin one of Bangkok’s most developed suburbs.
We take a look at what makes Phahon Yothin one of Bangkok’s top ten investment destinations.
Location
The Phahon Yothin area is highly accessible through multiple transport options. Developers’ past projects have seen major success being in close proximity to BTS Skytrain stations, Ari, Saphan Khwai and Sanam Pao, all serving the residents within that area. The Phahon Yothin area is served by both the Green BTS line and the Blue MRT line, and the Phahon Yothin MRT station is just 4 stops away from Bang Sue Central Railway Station, which is set to become ASEAN’s largest rail transit hub, and interchange for the highly-anticipated High Speed Rail project as part of China’s massive Belt and Road Initiative.
Phahon Yothin is also well-linked by road with Phahonyothin Road, one of Bangkok’s major arterial roads that goes through major districts such as Ratchathewi, Phaya Thai, Chatuchak, Bang Khen and Don Mueang, before continuing to the northern provinces of Thailand. Other major expressways that service this area include the Sirat Expressway and the Uttraphimuk Toll Way.
Phahon Yothin’s major draw in the next few years though, will be the Transportation Hub planned for the area. The development of this Hub will be split into 2 parts: the first will involve the development of the transport infrastructure network and its surrounding areas, with a 1.3 km skywalk that will be linked to Bang Sue Central Station, BTS Mo Chit and MRT Chatuchak. The second part will be the development of a secondary mass transit that will include a Bus Rapid Transit (BRT) system which will also link to the Phahon Yothin Transportation Hub.
Amenities
Phahon Yothin’s biggest draw is the wildly popular Chatuchak Weekend Market, the enormous indoor and outdoor market with over 8,000 vendors, that attracts tourists from all over the world. Located in the south of Phahon Yothin, the market is known for traditional handicrafts and cheap bargains, though there are many specialist shops catering to niche items as well. The areas surrounding the market have also developed to cash on its popularity, housing identical markets which are air-conditioned and open all week, as opposed to the open-air Chatuchak Weekend market.
The Central Plaza Ladprao Mall, one of Thailand’s largest and most popular malls, is situated next to Phahon Yothin MRT, perfect for both tourists and locals who are looking to splurge or cool off from the classic Bangkok heat.
Northern Bangkok is drawing the younger crowd as well, with many hipster cafes and bars setting up shop in Soi Ari, the hip area of Phahon Yothin, catering to the musicians and artists that have migrated into this neighbourhood. From European to traditional Thai, Phahon Yothin’s cuisine caters to a wide variety of tastes and budgets.
Other amenities include renowned hospitals, universities and international schools. The Phahon Yothin area is home to Sripatum University, one of the oldest and most established private universities in Bangkok. The area is also in close proximity to international schools such as St. Stephen’s International School and Rasami British International School. In line with Thailand as an emerging medical hub, there are numerous highly accredited hospitals in Phahon Yothin, such as Vichaiyut Medical Hospital and Bangkok Cancer Center Hospital.
Investment Landscape
With many being priced out of Central Bangkok’s crowded property market, the Greater Bangkok region is getting its moment to shine.
Resale prices of condominiums have seen a huge jump of 20-40% in the last 5 years. With the above mentioned infrastructure developments and other planned government initiatives, Bangkok’s skyline is about to change drastically in the following 5 years, and the Phahon Yothin area is set to benefit greatly.
Current investors are already seeing strong returns, with rental yields going up to 5% for condominiums. Phahon Yothin’s charm lies in its ability to be close enough to the action and convenience, and yet far enough for those looking for serenity in the hustle and bustle of Bangkok.
Sansiri has always been a visionary when it comes to the property market, recognising the potential of the Phahon Yothin area early on. Its previous condominium and single house projects, The LINE Jatujak-Mochit by Sansiri and Burasiri Phaholyothin-Saimai have seen great success among locals and foreigners alike. After multiple successful launches in Central Bangkok, Sansiri is coming back to the Phahon Yothin area with its latest offering, The Line Phahonyothin Park. Located within walking distance to a BTS Station, the development will feature Sansiri’s trademark design, quality and amenities, appealing to the savvy investor and suburban dweller alike, proving that Sansiri’s plans are definitely in line with the future.