New Bangkok project to launch in Singapore

Romesh NavaratnarajahJuly 28, 2016

The Saint Residences (002)-crop

Artist’s impression of The Saint Residences project. Source: Knight Frank

The latest phase of a new residential development in Bangkok will launch to buyers and investors in Singapore this weekend, revealed marketing agent Knight Frank.

Dubbed Benedict @ The Saint Residences, the 41-storey tower by Salan Development comprises 406 luxury units. It is one of three towers that forms part of The Saint Residences project.

Prices start from THB4.2 million (S$162,000) for a fully-furnished apartment measuring approximately 323 sq ft. This translates to an asking price of about S$500 psf.

Located in northern Bangkok’s new central business district, the development is close to the Central Lad Phrao shopping complex and Chatuchak Weekend Market. A survey showed that more than 50,000 people work in the area, said Phanom Kanjanathiemthao, Managing Director of Knight Frank Thailand.

Meanwhile, the Thai government and the State Railway of Thailand are planning to develop the surrounding area from Bangsue to Phaholyothin. The two-phase development plan includes new office buildings, retail spaces, hotels, residences and a transportation hub.

Linda Chern, Director, International Project Marketing at Knight Frank Singapore, said: “Bangkok properties are relatively undervalued and affordable compared to properties in other Asian cities. Spurred by an increasing number of expatriates in Bangkok, it is expected that demand will exceed supply and rental rates are set to rise, making it more attractive for investors looking for buy-to-let properties.

“Typically, the rental yields for Bangkok properties range between five and six percent, and the rental yields for The Saint Residences are approximately five percent,” she added.

The exhibition will be held on 30th and 31st July at the Hilton Hotel.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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