Bangsaen Condominium RepoRt - Colliers

Bangsaen Condominium Report | April 2012Demand DriversAlthough condominiums are more expensive than apartments, studentsfrom Burapa University still prefer living in condominiums because of thesupport facilities such as car parks and security systems. This alsoattracts investors who wish to invest in condominiums around theuniversity area for letting. There are more than 43,500 students atBurapa University Bangsaen Campus with approximately 7,500 newstudents in 2012. This huge number of students is a major driver thatboosts the residential and retail markets in the area as well as LaemThong Shopping Mall. Most condominiums launched over the past two tothree years focus on university students who invest in residences thensell or lease them out after graduation.PRICECumulative future supply scheduled to be completed from 2012 to 2014 by locationSource : Colliers International Thailand ResearchThe average selling prices in Bangsaen and Angsila range fromapproximately THB550,000 to above THB5 million per unit or aroundTHB22,000 to 81,900 per sq m.50% as it is located closer to the university where students andemployees are the main target group. Moreover, land prices in the areaare higher which directly affects the prices of condominium units.The average selling price in Southern Bangsaen area is higher by 27 -OutlookThere were many condominium projects launched in Bangsaen andAngsila during the past two to three years. As the main target group forall projects in the area are students and staff of Burapa UniversityBangsaen Campus including certain investors, the average selling priceof a unit is not higher than THB55,000 per sq m. The university hasapproximately 5,000 new students each year, a number much higherthan that of the new condominium units launched each year. This numberis a major growth factor for the condominium market in Bangsaen andAngsila for the future.Saensuk Municipality also has long-term development plans to improvethe city’s infrastructure, tourist attractions and cleanliness. Theseimprovements will enhance the residential market in the area and attractnew buyers from Bangkok looking for second homes.COLLIERS INTERNATIONAL | P. 8