The Orange line, intersecting the Gray line at Wat Praram Kao Station. The new connection point of Eastern Bangkok to the city center.

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The Orange line
InvestMan is back again with another analysis on land around upcoming train stations. This time, it is the Wat Praram Kao Station, an intersection point of the two train lines; orange line, from the Cultural Center to Minburi and the gray line, from the northern part of Watcharaphon – Thonglor. Let’s get to know more about this junction. The corner of Praditmanutham Road which intersects with Ratchadaphisek Road and Chaturathit Road is a connection point leading into the city. At present, there are office buildings mixing with residential condominiums at large. In addition to this, the area is getting more popular in terms of casual and entertainment venues such as cafes, restaurants and other nightlife establishments.

Transportation

Bus route

 Bus line r26e, from Chakri Naruebodin Medical Institute – Phamaceutical Organisation Center

137 (Po.) MRT from Cultural Center – Ramkhamhaeng University

168 (Po.) Battlefield Monument – Siam Park

171 (Po.) Bang Khun Thian – Prawet Land Department

517 (Po.) Morchit 2 – Techno Ladkrabang 

Main routes and expressways

The intersection of Rama 9 and Praditmanutham Road is a big junction which connects various transport routes and networks. There is still room for development and expansion of the ‘Park and Ride’ facility. 

There is access point for enter and exit the Sri Rat Expressway, (expressway level 2)

– Exit point connecting Ramkhamhaeng Road, Srinakarin Road and the motorway no. 7

– Enter point, Sathorn, Bangna, Dao Khanong

Chalong Rat Expressway (Ramintra – Atnarong Expressway or Expressway No. 3)

 Praditmanutham Road is a road running along the Chalong Rat Expressway. It is one of the main roads connecting the city to the northeastern suburbs of Bangkok.

 Rama 9 Road is a road starting from the MCOT – Ratchadaphisek Road intersecting with Praditmanutham – Ramkhamhaeng Srinakarin. 

 Chaturathit Road is a road with a distance of about 4 kilometers. The route starts from Ratchaprarop Intersection and ends at the merger with Rama 9 Road. It is a secondary road that supports traffic congestion from the main road.

Nearby attractions of the station

  • Rama 9 Kanchanaphisek Temple, distance from the station – 1.2 km.
  • Pattana Medical Center Clinic, distance from the station – 1.5 km.
  • Piyavej Hospital, distance from the station – 1.6 km.
  • Show DC Department Store, distance from station – 2.3 km.
  • Rama 9 Hospital, distance from the station – 2.3 km.
  • Central Rama 9 Department Store, distance from the station – 3.5 km.
  • Fortune Town Shopping Center, distance from the station – 3.5 km.

Growth of offering price in the neighborhood

Condominium – stable

From surveying the area, it was found that there are still a stable amount of new condominiums. Some projects delayed the opening of sales due to the ongoing covid pandemic. There are less number of walk-in potential customers. There are approximately 3,300 new condominium units in the area, and about 1,200 of them have already been sold. As a result, there is still a considerable amount remaining to be liquidated after the pandemic.

 From the market price of condominiums in 2017, the appraisal was at 70,000 baht/sqm.

 From the survey of the current condominium’s offering price near the station, the average selling price is around 82,000 baht/sqm, a slight adjustment. It remains to be seen how the house purchasing trend after the Covid will unfold.

 Even though the market transaction is not active at the moment, there are already signs of large mix-use projects, due to various soil adjustments awaiting developments after COVID. The area around Rama 9-Manutham is definitely another hot location to keep an eye on.

 

Land prices from year 2019 has increase up to the present
The majority of land for sale around the station are large plots in characteristic. The big real estate development companies have already started acquiring these land, and await to be developed into condominium projects once the Covid situation eases out. In the meantime, these land is temporarily utilised for agricultural purposes in order to reduce the tax burden.

The appraisal information during the year 2017-2018 of land located into the alley connecting to Rama 9 Road was estimated at 85,000 baht up to no more than 100,000 baht per square wa.

The current price of land located into the street is offered for sale at approximately 200,000 to 350,000 baht per square wa. The price has been adjusted continuously, which currently trading at average of 250,000 baht per square wa. In the future, land prices tend to rise up beyond the point where small-time investors can afford.

Nevertheless, Prospec Appraisal provides consulting service; project feasibility study, site selection analysis and any other question/concern you may have regarding issues such as lane width, land size, color zoning, layout, utilization restrictions etc. before making investment decisions. We are here to help you through the process.

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