On 26 November 2019 – DMRD held an educational seminar about one of Bangkok’s most upcoming suburban areas “Punnawithi”. Since the Skytrain expansion in late 2011, more affordable residential developments have been emerging in Punnawithi (Sukhumvit 64). Due to the zoning regulations only lowe rise development are allowed which giver end-users and investors and better mid-density development.
Mid density developments are considered residential projects that offer between 250 – 500 units, the advantage of this sizing is that resale and rental become less competitive compared to high-density development, and the property management can often maintain higher standards.
Over the past 5 years, we have seen a 90-100% occupancy rates in Punnawithi(Sukhumvit 64), not only due to affordable acquisition prices (under 3 million THB) but also the logical rental rate that flows out of that, making it easier for low and mid-income earners to occupy a unit. This trend has continued over time and this particular area still offers 1 bedroom units in a 3 million THB range.
What makes Punnawithi attractive? proximity to the BTS Skytrain is one of the main factors, allowing residents to commute to the city center but also allows them to enjoy the rapid infrastructure improvement north of Punnawithi, including shopping centers, dining outlets, and commercial developments.