The intersection of the Pink and Gray line at Watcharaphon Station increases transporting commodities for a highly concentrated residential area.

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Watcharaphon Station
    Recently, InvestMaN has conduct an on-site exploration of Watcharaphon Station, a junction point where two lines will intersect; the Pink line, from Nonthaburi Government Center to Min Buri, and the gray line, the northern part, Watcharaphon to Thonglor. Let’s get down to know about this intersection station. Ramintra Road is well known for its largely residential area along with various government buildings. Currently, the area is hugely populated by a single detached house and townhouse type of property, in comparison to a relatively few condominiums.

Transportation

Public bus
150 (PO.) Happy Land Bus Terminal – Wat Bo, Pak Kret Pier, Soi Wat Sanam Nuea
178 (PO.) Siam Park Garage – Siam Park
520 (PO.) Minburi Bus Terminal – Talad Thai
554 (PO.) Bus Terminal Premium (Rangsit) – Suvarnabhumi (Public Transport Center)
95 Happy Land Bus Terminal – Bangkhen Bus Terminal
95 Happy Land Bus Terminal – Rangsit Garage

Main routes and expressways

Chalong Rat Expressway (Ramintra-Atnarong)
An extension of the Chalong Rat Expressway in the north at Ramintra – Outer Ring Road of Bangkok, a distance of 9.5 kilometers, starting from the Eastern Bangkok Outer Ring Road, Chatuchot area, south of Lamlukka Intersection heading southwest across Sukhaphiban 5 Road to the southwest until Ramintra Road.

Ramintra Road or National Highway 304
starts from Lak Si Monument Roundabout, Anusawari Sub district, Bang Khen District, Bangkok cut off to the southeast through Lat Pla Khao Intersection intersect with Praditmanutham Road and Chalong Rat Expressway through the northern part of Bueng Kum, then enter the Khanna Yao area through Nawamin Road Intersection Intersect with the Eastern Outer Ring Road through the intersection of Ratchadaphisek – Ramintra Road through Suan Siam Road intersection, crossing Bang Chan canal into Minburi area which ends at the junction of Minburi.

Pradit Manutham Road
runs along the Chalong Rat Expressway. It is one of the main roads connecting the city to the northeastern suburbs of Bangkok.

Watcharaphon Road
connects many main roads, such as Chatuchot Road, Phahon Yothin Road, Sukhaphiban 5 Road, Permsin Road and Sai Mai Road.

Propose selling prices for property increase in this area

Condominium unit is sparse

From surveying the region, it was found that the area is a yellow zone for residential use according to the city plan. Area is mostly occupied by low-rise residential projects such as single-detached houses and townhouses. There are still some units for sales in the existing condominiums that have been launched for a while, nevertheless, no new projects in sight. This was due to this area being and still badly affected by the ongoing COVID situation. Projects have received less visits by potential customers, reflecting the sparse number of transactions during this period. There are approximately 1,376 new condominium units in the area. Approximately 1,251 units have already been sold and are expected to be sold out within the next year.

 From the survey of the selling price of condominiums located on the sub road, the average selling price is about 60,000 baht / sq.m. which is a slight increase.

 Selling price of condominiums located on the main road, within close vicinity of the station,  average at about 70,000 baht / sq.m. There has been some upwards adjustment. It remains to be seen whether the trend of buying housing after COVID will shift the selling prices in the future.

Land price announced for sale in advance

Most of the land up for sale around the station are large plots. It remains to be seen whether the big real estate developers will acquire land after the COVID situation easen, as the land prices have fallen at the moment.

 The price of land adjacent to the sub road within 1-kilometer radius of the station was estimated at 50,000 – 60,000 baht per sq. wah, three years ago. At present, the offering price is at 70,000 – 100,000 baht per sq. wah.

 The current land price adjacent to the main Ramintra Road is on the rise with a proposed selling price at approximately 180,000 – 300,000 baht per sq. wah. It is fair to say that the price is relatively high compared to the condominium.

 From the analysis of the land development cost for residential projects, the selling price per unit for condominiums located in the alley or sub road should not exceed 65,000 baht per sq. meter. Meanwhile, the cost of land must not exceed 70,000 baht per sq. wah. On the other hand, condominiums located on the main road near the station should have a selling price of no more than 79,000 baht. The cost of land to be developed should not exceed 125,000 baht per sq. wah.

 Without a doubt, the price of land adjacent to the station will soar when the train is up and running so let’s keep an eye on the trend.

 New condominium within 1 kilometer radius of Watcharapon Station

Project 2012 (Nov) 2021 (Aug) Total unit Unit sold Remaining unit Selling rate (105 months)
1 58,xxx THB/sq.m. 69,xxx THB/sq.m. 1,168 1,051 117 10 units/month
Project ปี 2018 (July) 2021 (Aug) Total unit Unit sold Remaining unit Selling rate (37 months)
2 64,xxx THB/sq.m. 73,xxx – 79,xxx THB/sq.m. 208 200 8 10 units/month
Total     1,376 1,251 125 15 units/month

Average expected time to sell out all projects : 8 – 12 months

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