sukhumvit SOI 71. Is it worth investing?

[samkam]

rehash the archive information.

 

Thinking of getting a shoebox condo at sukhumvit sol71. Is it still a good option or should I avoid the location ?

[brewsterbudgen]

It's a very long soi. Is it near Phra Khanong or Rhamkamheang?

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[InMyShadow]

walking distance from a bts?

[samkam]

I think its about 3 stations to Phrom Phong. It is close to Sukhumvit Rama 4 to Ram or Rama 9,

[brewsterbudgen]

I think its about 3 stations to Phrom Phong

Phra Khanong BTS is. But a condo on soi 71 could be a very long way from the BTS. The lower number sub-sois are nearer Phra Khanong.

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[samkam]

1 minute ago, brewsterbudgen said:

Phra Khanong BTS is. But a condo on soi 71 could be a very long way from the BTS. The lower number sub-sois are nearer Phra Khanong.

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I would imagine so. Estimated 1.6 km away

 

[Minnehaha]

Prakanong is Soi 71 near Sukhumvit and Klong Ton is Soi 71 near Petchaburi.  Klong Ton has market.  These are the location names you use with Taxi etc.

Prakanong is also BTS station between Ekamai and Onnut. These are two different worlds.  

The intersection of Rama 4 makes Prakanong an excellent accessible location plus there is expressway entrance via RamIntra.  There is considerable investment going in.  Note the Summerhill mall opening.  Starbucks etc.  There are The Rhythm the Room.  Wyne.  W district and a couple Life condos.  Bloom is another.  There are large numbers of condos.  Some draw from Bangkok U which is just down the street Rama 4

The street 71 is one of the only large real dual carriageway arteries in this part of town.  Ever drive down or up Ekamai? Nightmare traffic.  

For these reasons etc the area is worthy of attention.  

[mike324]

Worth investing as in renting it back out? No

Worth investing if you are finding a place to live and not expensive like mid sukhumvit condos - Yes

[brewsterbudgen]

Also now officially known as "midtown"!

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[Thaidream]

Soi 71 is the low rent district of Bangkok to include Soi 77 and 81.  Many low wage working people rent in these Sois and Subsois so a Condo purchase for renting out is not going to be lucrative.  The only way I would ever buy a Condo anywhere in Thailand is if I was going to make Thailand my permanent home and have no expectation of a rise in value.

[portroyal]

For investing, buy Silom

For living, buy riverside

[brewsterbudgen]

Soi 71 is the low rent district of Bangkok to include Soi 77 and 81.  Many low wage working people rent in these Sois and Subsois so a Condo purchase for renting out is not going to be lucrative.  The only way I would ever buy a Condo anywhere in Thailand is if I was going to make Thailand my permanent home and have no expectation of a rise in value.

Which is exactly what I did. I bought a condo to live in, right on the junction of Rama 4 and Sukhumvit in 2007; sold it in 2017 for nil profit! Selling was easier than I expected as there is an oversupply of new condos on the area.

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[seancbk]

3 hours ago, Minnehaha said:

Prakanong is Soi 71 near Sukhumvit and Klong Ton is Soi 71 near Petchaburi.  Klong Ton has market.  These are the location names you use with Taxi etc.

Prakanong is also BTS station between Ekamai and Onnut. These are two different worlds.  

The intersection of Rama 4 makes Prakanong an excellent accessible location plus there is expressway entrance via RamIntra.  There is considerable investment going in.  Note the Summerhill mall opening.  Starbucks etc.  There are The Rhythm the Room.  Wyne.  W district and a couple Life condos.  Bloom is another.  There are large numbers of condos.  Some draw from Bangkok U which is just down the street Rama 4

The street 71 is one of the only large real dual carriageway arteries in this part of town.  Ever drive down or up Ekamai? Nightmare traffic.  

For these reasons etc the area is worthy of attention.  

 

Sukhumvit 71 has been under going some nice improvement works over the past few months.   They are replacing all the pavements, which incidentally are nice and wide along much of the road.

Sukhumvit 71 is a nightmare for traffic jams during rush hours, so unless you don't mind sitting in traffic avoid using taxis at certain times of day.

I rent a house down there on one of the sub sois.   

[samkam]

4 hours ago, Minnehaha said:

Prakanong is Soi 71 near Sukhumvit and Klong Ton is Soi 71 near Petchaburi.  Klong Ton has market.  These are the location names you use with Taxi etc.

Prakanong is also BTS station between Ekamai and Onnut. These are two different worlds.  

The intersection of Rama 4 makes Prakanong an excellent accessible location plus there is expressway entrance via RamIntra.  There is considerable investment going in.  Note the Summerhill mall opening.  Starbucks etc.  There are The Rhythm the Room.  Wyne.  W district and a couple Life condos.  Bloom is another.  There are large numbers of condos.  Some draw from Bangkok U which is just down the street Rama 4

The street 71 is one of the only large real dual carriageway arteries in this part of town.  Ever drive down or up Ekamai? Nightmare traffic.  

For these reasons etc the area is worthy of attention.  

3

so I guess Prakanong, while it is vibrant and busy, the dense population of condo will not make it a unique proposition for investment. But good enough to stay as the accessibility of food and locality/proximity to shopping is there.

 

Driving is going to be an issue due to the traffic conjunction and noise from the expressway will be a major drawback unless its reasonably low rent.

 

Is that sort of accurate summary from the multiple snapshots of inputs from the folks?

 

 

 

 

[Just Weird]

5 minutes ago, samkam said:

so I guess Prakanong, while it is vibrant and busy, the dense population of condo will not make it a unique proposition for investment. But good enough to stay as the accessibility of food and locality/proximity to shopping is there.

 

Driving is going to be an issue due to the traffic conjunction and noise from the expressway will be a major drawback unless its reasonably low rent.

 

Is that sort of accurate summary from the multiple snapshots of inputs from the folks?

Driving will not always be an issue, usually only the rush hours will be very congested and the expressway will not cause any significant noise disturbance.

[brewsterbudgen]

Driving will not always be an issue, usually only the rush hours will be very congested and the expressway will not cause any significant noise disturbance.

Agree. I have a car and outside rush hours, it's fine. No noise issues either.

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[DDBKK]

There are a lot more areas where condos are going up close to the new (currently under construction) pink and yellow lines. 

 

That's where my money would be going.

[MyFriend You]

Me & two other guys bought condo's on Soi 71 in 2002, we were forced to sell 5 years ago because they were tearing the bldg down to build a shopping mall, haven't been down that way since, but we made 2 times our investment, only paid 1.2Mil (bought when baht was 52 - 1$) and sold for 2.4Mil, we were among the last holdouts, so they paid premium price, couldn't start destruction as long as we owned those places.  It pays to have a lawyer in Thailand.      If you want to live cheaply, and hang with the Thai's??  This is the area to do it, but not for investment..........I liked it there.

[BuddyDean]

I would look more along the MRT..Sutisan, Huai Kwang, Thai Cult Center....a lot more centrally located to different areas.  I saw a condo about 700 m from the end of the line..Samrong..for 233,000 THB on the WWW.BAM.CO.TH website.  Wasn't awful, and nicer area than some of the lower priced in the huge buildings near On But.

[samkam]

More keen a developer that is more successful in the introduction of the development and build quality as well as expertise in those market like allinspire. 

 

Was looking at an angle from a space planning and was amazed that a 28sq m unit can yield quite a substantial amount of space utilisation.

 

Are micro shoebox condo quite popular there ?

 

[bkk6060]

If it is a place to live OK.

Your question is "worth investing"..... No.

If you Falang you cannot leverage your investment.  Cash upfront 2,3,5 million b whatever.

Thailand real estate is a very slow mover and you can make much more money "investing" that cash in something else.

 

.

[samkam]

looks like the One belt one road initiative is not picking up momentum there.

 

 

[dddave]

I've lived off Suk. 71 for 13 years and have watched it change enormously, from a low rent, blue collar cheapside to an increasingly vibrant and "hip" neighborhood. Just in the last year, more than 20 new Japanese, Korean and western themed  restaurants have opened along the first 30 blocks of 71 and more coming.  For better or worse, shop house rents along 71 have nearly doubled in the last two years and many small neighborhood businesses have closed down, only to be quickly replaced with new food outlets and other small businesses.  Several older buildings have been converted into hostels and I see many more Westerners walking on 71 than ever before.

The Phra Khanong BTS station used to be sparsely utilized...now more crowded every day and as somebody else mentioned, the new Summerhill business block on the even soi side of the station has added an attractive retail area.  The Starbucks, opened just 2 months ago, is pretty much full every day.

Good for a condo investment? Sure, as long as you follow the rules for condo investing everywhere; a quality, well laid out and located unit in a quality, well built and well managed building.  Because it attracts mostly upwardly mobile young professionals, this area will have a very high property turnover rate as this group moves on and new young professionals take their place.  There are a lot of Japanese and Korean couples and some families who stay for a few years and move on...high turnover usually means fairly rapid appreciation unless there is a dramatic economic downturn.  If that were to occur, then you could get stuck...just like everybody else.  No investment has a 100% guarantee.   

When I mover into my unit in 2004, I could look toward Sukhumvit and watch the Skytrain all the way from Ekkamai to On Nut. Now I can barely catch a glimpse as it pulls into Phra Khanong.  Almost 40 condo buildings have gone up along that corridor in that time.  I don't see the demand stopping.

 

[MyFriend You]

1 hour ago, dddave said:

I've lived off Suk. 71 for 13 years and have watched it change enormously, from a low rent, blue collar cheapside to an increasingly vibrant and "hip" neighborhood. Just in the last year, more than 20 new Japanese, Korean and western themed  restaurants have opened along the first 30 blocks of 71 and more coming.  For better or worse, shop house rents along 71 have nearly doubled in the last two years and many small neighborhood businesses have closed down, only to be quickly replaced with new food outlets and other small businesses.  Several older buildings have been converted into hostels and I see many more Westerners walking on 71 than ever before.

The Phra Khanong BTS station used to be sparsely utilized...now more crowded every day and as somebody else mentioned, the new Summerhill business block on the even soi side of the station has added an attractive retail area.  The Starbucks, opened just 2 months ago, is pretty much full every day.

Good for a condo investment? Sure, as long as you follow the rules for condo investing everywhere; a quality, well laid out and located unit in a quality, well built and well managed building.  Because it attracts mostly upwardly mobile young professionals, this area will have a very high property turnover rate as this group moves on and new young professionals take their place.  There are a lot of Japanese and Korean couples and some families who stay for a few years and move on...high turnover usually means fairly rapid appreciation unless there is a dramatic economic downturn.  If that were to occur, then you could get stuck...just like everybody else.  No investment has a 100% guarantee.   

When I mover into my unit in 2004, I could look toward Sukhumvit and watch the Skytrain all the way from Ekkamai to On Nut. Now I can barely catch a glimpse as it pulls into Phra Khanong.  Almost 40 condo buildings have gone up along that corridor in that time.  I don't see the demand stopping.

 

Only your opinion, would you invest in a 1 or 2 bedroom condo purely as a rental??  And if so, how long would you think it is worth it to keep before sell   -   appears you have a history with the area, and I value that. 

[Destiny1990]

3 hours ago, dddave said:

I've lived off Suk. 71 for 13 years and have watched it change enormously, from a low rent, blue collar cheapside to an increasingly vibrant and "hip" neighborhood. Just in the last year, more than 20 new Japanese, Korean and western themed  restaurants have opened along the first 30 blocks of 71 and more coming.  For better or worse, shop house rents along 71 have nearly doubled in the last two years and many small neighborhood businesses have closed down, only to be quickly replaced with new food outlets and other small businesses.  Several older buildings have been converted into hostels and I see many more Westerners walking on 71 than ever before.

The Phra Khanong BTS station used to be sparsely utilized...now more crowded every day and as somebody else mentioned, the new Summerhill business block on the even soi side of the station has added an attractive retail area.  The Starbucks, opened just 2 months ago, is pretty much full every day.

Good for a condo investment? Sure, as long as you follow the rules for condo investing everywhere; a quality, well laid out and located unit in a quality, well built and well managed building.  Because it attracts mostly upwardly mobile young professionals, this area will have a very high property turnover rate as this group moves on and new young professionals take their place.  There are a lot of Japanese and Korean couples and some families who stay for a few years and move on...high turnover usually means fairly rapid appreciation unless there is a dramatic economic downturn.  If that were to occur, then you could get stuck...just like everybody else.  No investment has a 100% guarantee.   

When I mover into my unit in 2004, I could look toward Sukhumvit and watch the Skytrain all the way from Ekkamai to On Nut. Now I can barely catch a glimpse as it pulls into Phra Khanong.  Almost 40 condo buildings have gone up along that corridor in that time.  I don't see the demand stopping.

 

Tunnelrat alias tunnelvision. 

[samkam]

13 hours ago, dddave said:

I've lived off Suk. 71 for 13 years and have watched it change enormously, from a low rent, blue collar cheapside to an increasingly vibrant and "hip" neighborhood. Just in the last year, more than 20 new Japanese, Korean and western themed  restaurants have opened along the first 30 blocks of 71 and more coming.  For better or worse, shop house rents along 71 have nearly doubled in the last two years and many small neighborhood businesses have closed down, only to be quickly replaced with new food outlets and other small businesses.  Several older buildings have been converted into hostels and I see many more Westerners walking on 71 than ever before.

The Phra Khanong BTS station used to be sparsely utilized...now more crowded every day and as somebody else mentioned, the new Summerhill business block on the even soi side of the station has added an attractive retail area.  The Starbucks, opened just 2 months ago, is pretty much full every day.

Good for a condo investment? Sure, as long as you follow the rules for condo investing everywhere; a quality, well laid out and located unit in a quality, well built and well managed building.  Because it attracts mostly upwardly mobile young professionals, this area will have a very high property turnover rate as this group moves on and new young professionals take their place.  There are a lot of Japanese and Korean couples and some families who stay for a few years and move on...high turnover usually means fairly rapid appreciation unless there is a dramatic economic downturn.  If that were to occur, then you could get stuck...just like everybody else.  No investment has a 100% guarantee.   

When I mover into my unit in 2004, I could look toward Sukhumvit and watch the Skytrain all the way from Ekkamai to On Nut. Now I can barely catch a glimpse as it pulls into Phra Khanong.  Almost 40 condo buildings have gone up along that corridor in that time.  I don't see the demand stopping.

 

At some point in time, the place will be too densely populated.

 

Which is both a good and bad thing. The bad part is the pollution and infrastructure may not match the pace nor an Urban planning have been put in place to map out the look and feel.

 

I am equally worried about the lack of a hospital or a fire station nearby

 

 

[dddave]

27 minutes ago, samkam said:

 

I am equally worried about the lack of a hospital or a fire station nearby

Sukhumvit Hospital is a modern, full service hospital 1.5 km from Phra Khanong near the Ekkamai BTS.

Kluay Nam Thai Hospital is a private hospital that specializes in geriatric care but does maintain an emergency department and has departments for most specialties.  Located in Phra Khanong, off Rama-4 4 blocks from the Sukhumvit intersection.

There is a full service fire station on Sukhumvit, between Phra Khanong and On Nut.

 

Regarding one or two bedroom?, I'd say get the best unit you can find, the most spacious and well located for the best price in the best building, one bedroom, two bedroom or even studio.

Not long ago, there was an interesting discussion on this forum between people who owned units in condos that had pools and fitness centers and those that didn't. Many found they did not use these facilities that often and that the upkeep, especially for the pool added significantly to the maintenance fees. Several said they would never buy a unit in a building with a pool or fitness center again.

I don't really have any idea of what is easiest to rent or gets the best return for rentals.  if you planned to rent short term via Air BNB, I'd make very sure to find out the condo rules before buying as most don't allow it.  Recently, many condo associations have been cracking down hard on owners renting short term like on Air BNB.

[Destiny1990]

I read that in bkk the 2 bedroom units make the best returns.

[samkam]

oh.. and why is that so. Changing demographics profile?

 

[brewsterbudgen]

I read that in bkk the 2 bedroom units make the best returns.

It's definitely a renter's market. I just signed up for a year's contract on a 2 bed/2 bath condo near Phra Khanong BTS for a bargain 22,500 a month. Lots of empty 2 bed units in the building for 25-28,000.

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