Those looking to make the move to Bangkok are becoming increasingly spoilt for choice in terms of the residential options at hand. It seems like a new nucleus is popping up every time another gains notable attention, each offering residents with a host of amenities necessary for setting up home. The latest to join this enviable list is the Phaya Thai/Ratchathewi district, a vibrant neighbourhood offering expatriates, students, locals and tourists with a host of dining and lifestyle options supported by modern infrastructural developments:
Central location providing a host of attractions
One of the reasons why the Phaya Thai/Ratchathewi area is so attractive for property investors and those looking for a place to stay is due to its accessibility to major attractions in the capital city.
The district, accessible by the Ratchatewi BTS Skytrain station is 5 minutes to the Ari district. A 4 minute train ride from the centrally located Siam station on the BTS Sukhumvit line, and around 15 minutes by train to the ever-popular
Thonglor/Ekkamai and Central Sukhumvit. All these locations provide visitors with a host of leisure and lifestyle activities to satiate the most discerning of crowds. The area’s geographical advantage is further strengthened by its accessibility to Suvarnabhumi airport via the Airport Rail Link in under 30 minutes.
Key attractions in the neighbourhood
The Phaya Thai/Ratchathewi area of Bangkok is perhaps most famous for its Victory Monument district. The Monument itself was built in 1941 to celebrate Thailand’s victory over France in the preceding year, now used as a distance marker for Bangkok in maps of Thailand. The location is best known as home to a range of lifestyle outlets that cater to varying interests.
Aside from the movie theatre Century and shopping mall Centre One that caters to a wide range of wholesale clothes and accessories, the area is also home to Bangkok’s largest duty-free shopping mall, King Power Duty Free Complex. The outlet offers shoppers a range of brand name goods at a fraction of the price that they go for in larger departmental stores. For those who are not into mainstream shopping, there is always the Bangkok Dolls and Museum that includes a shop offering a range of handmade Thai dolls, all of which are crafted on the premises itself.
Sightseers are also treated to the 20th century Phayathai Palace that has served as an international hotel and retreat for King Rama V, a hidden gem that is not commonly known among tourists. The palace is conveniently accessible by the BTS via Victory Monument station. Its opening hours are on Saturday-Sunday with lecture-led tours at 9.30 a.m. and 13.30 p.m. It should be noted that on weekdays, visitors need to receive special permission to enter the palace grounds.
A food and drink paradise
The Ratchathewi area has extensive dining options, offering everything from delectable street food to traditional sit-down settings. For coffee aficionados, Ratchathewi is home to one of the Capital’s 5 Casa Lapin outlets, offering customers with the chain’s favourites such as French toast, salads and fresh-pressed and syphon brews set within industrial-loft interiors with warmer and homier touches. The cafe is located on 304/5 Phaya Thai Road.
If a contemporary fine-dining experience is what you are after, then there is always La VIE that is located within VIE Hotel Bangkok that has creative French cuisine with unique presentation and flavours that are said to make its mark on the world of high-end dining.
For an after dinner drink or a night out, Cocowalk – off Phaya Thai Road - offers party goers vibrant nightlife options, packed with a range of bars, many of them accruing their fair share of local followers over the last several years due to their live bands.
Investment opportunities abound
With many locals and tourists showing interest in Phaya Thai/Ratchathewi, it’s an opportune time to get in on some of the action when it comes to property investments in the area. Growing interest in the area has also been bolstered by students- both international and local- that study at the nearby Chulalongkorn university, providing a steady influx of rental yield for investors.
One development that has been gaining much attention is XT Phaya Thai, catering to the millennial generation through its configurable units that can be tailored to their needs.
The property is decked with such facilities as a garden workspace, super living room, lookout terrace, fully integrated fitness centre, urban farm, semi-outdoor jogging track and two Olympic-sized swimming pools - all spread across a vast 4,500 sqm space. Rental yields for the development are an impressive around 5% and capital appreciation pegged at around 8%, with the per square metre cost considerably lower than others in the area.