As the high-end condominium market remains sluggish, there are a number of resale units available in the Ekamai area, and the developer Gaysorn Property Co has had to maintain unit prices of its Mode Sukhumvit 61 since its launch in March this year.
Prices are between 120,000 and 140,000 baht a square metre, and Gaysorn has offered a discount of 10-20% for 10 units under a promotion to compete with resale units costing less.
The Agent Co, a local brokerage, noted that prices of resale units on Sukhumvit Road from Thong Lo to Phra Khanong are below 120,000 baht per sq m on average, and generally much higher than the original launch prices. On Sukhumvit 65, resale units were selling for less than 100,000 baht a sq m while new units at Rhythm on Soi Sukhumvit 44/1 by Asian Property Development are priced slightly above 100,000 baht a sq m.
A new project called Socio Condo will be launched at prices about half those of Mode's on the same soi.
The Agent marketing manager Kirk Bunyayotin said one-bedroom units at Socio were lower than 3 million baht, attracting many investors to buy. Gaysorn Property earlier developed Domus on Sukhumvit Soi 16.
Gaysorn Property managing director Fafuen Temboonkiat said Mode units were larger than those at other projects in the same location. Mode will have 168 units sized from 43.6 to 87.5 sq m worth a combined 1.3 billion baht. It has sold 35% of the inventory and aims for 50% by year-end.
"We are not a listed firm so we have no pressure on our sales rate," Mr Fafuen said. "There is ample supply so buyers will shop around before making a decision. For Domus, buyers typically spend four to six months before buying a unit."
Despite a rise in construction costs and wages, Gaysorn has already signed a construction contract with Syntec Construction so it doesn't expect any changes.
ฺBangkok Post 3/10/2011
Prices are between 120,000 and 140,000 baht a square metre, and Gaysorn has offered a discount of 10-20% for 10 units under a promotion to compete with resale units costing less.
The Agent Co, a local brokerage, noted that prices of resale units on Sukhumvit Road from Thong Lo to Phra Khanong are below 120,000 baht per sq m on average, and generally much higher than the original launch prices. On Sukhumvit 65, resale units were selling for less than 100,000 baht a sq m while new units at Rhythm on Soi Sukhumvit 44/1 by Asian Property Development are priced slightly above 100,000 baht a sq m.
A new project called Socio Condo will be launched at prices about half those of Mode's on the same soi.
The Agent marketing manager Kirk Bunyayotin said one-bedroom units at Socio were lower than 3 million baht, attracting many investors to buy. Gaysorn Property earlier developed Domus on Sukhumvit Soi 16.
Gaysorn Property managing director Fafuen Temboonkiat said Mode units were larger than those at other projects in the same location. Mode will have 168 units sized from 43.6 to 87.5 sq m worth a combined 1.3 billion baht. It has sold 35% of the inventory and aims for 50% by year-end.
"We are not a listed firm so we have no pressure on our sales rate," Mr Fafuen said. "There is ample supply so buyers will shop around before making a decision. For Domus, buyers typically spend four to six months before buying a unit."
Despite a rise in construction costs and wages, Gaysorn has already signed a construction contract with Syntec Construction so it doesn't expect any changes.
ฺBangkok Post 3/10/2011
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