In a market offering a huge amount of variety, and as the development of Bangkok continues alongside changing consumer buying habits, developers are often looking for unique and efficient ways to make their project stand out. Today we will explore side by side two new projects from two of the top developers in Bangkok.
Project Overview:
| Project | Life Rama 4- Asoke | Ideo Sukhumvit-Rama 4 |
| Completion Date | Q1 2024 | Q4 2023 |
| Distance to BTS/MRT | 450M MRT Queen Sirikit | 350M BTS Phra hanong |
| Developer | AP Thai | Ananda |
| Maintenance THB/sqm | 50 | 55 |
| Sinking Fund THB/sqm | 500 | 500 |
| Total number of Units | 1,237 | 645 |
| Ceiling Height | 2.6M & 4.4M (Vertiplex) | 3M |
Developer Brand Tier:
| Tier | AP Thai | Ananda |
| Luxury | Address | Ashton |
| High-end | Rhythm | Ideo Q |
| Up-scale | Life | Ideo/ Ideo Mobi |
| Mid-range | Aspire | Elio |
| Budget | Unio |
Location:
For more on Rama 4 area please follow: https://lazudi.com/th-en/blog/where-is-bangkoks-next-up-coming-location-to-watch
Rama IV is the road that runs parallel below Sukhumvit to the south. It connects Sukhumvit with the Sathorn/Silom CBD area and to Lumphini park. It has four mixed-use super-projects coming along with a wealth of new opportunities. These mixed-use spaces will offer headquarters in Grade A office spaces for industry using Bangkok as their business nerve center, along with new luxury condominiums, retail spaces, hotels, serviced apartments & convention halls.
Investor Points:
| Life Rama 4- Asoke | Ideo Sukhumvit-Rama 4 |
| Close by to Benjakitti park – Bangkok’s newest biggest park since its extension opened in January 2022.
Huge rental potential for developing Rama 4 & Lumphini areas: One Bangkok, Medpark Hospital, The Parq, Dusit Central, FYI centre & Midtown Samyam Features multiple unit plan options including ‘Duo Type’ loft style units, unique to the area. More info here: https://lazudi.com/th-en/blog/guide-to-loft-duplex-moff-vertiplex-and-more Exceptional views over Benjakitti Park & Bangkrachao River Asoke is considered the times square of Bangkok, with easy access to all major CBD areas: Sukhumvit, Silom/Sathorn & Rama 9 via BTS/MRT interchange. |
Located conveniently next to an abundance of amenities, including multiple food and shopping options at the ‘Summer Hill’ complex and ‘W District’ – a community mall with a focus on shopping, dining and entertainment, all brought together with an emphasis on urban modern art – from surrealist sculpture to stylish graffiti.
Located on a 2-way street, not stuck in any one-way traffic system. The last ‘Ideo’ project completed close by at Ideo Sukhumvit 93 completely sold out. Attractive amount of internal greenery, impressive waterfall centrepiece and urban forest courtyard. Medium unit density compared to the Life. |
Target Tenants:
| Life Rama 4- Asoke | Ideo Sukhumvit-Rama 4 |
| Blue collar working professionals at One Bangkok, Medpark Hospital, The Parq, Dusit Central, FYI centre & Midtown Samyam as well as those who require access to Sathorn or Sukhumvit.
Rent price will significantly uncut upcoming luxury new condos. For those who enjoy access to the park for exercise or their children’s enjoyment. Close to fresh market, popular with local Thais. Demographic single, couples and young families most likely Thai. |
A residential and comfortable neighbourhood for expat living. Attractive due it’s central Sukhumvit location without being typically as expensive as the Thonglor/Ekkamai neighbourhood.
Established neighbourhood for rental market with high demand typically for 1 & 2 bed condos. Working professionals in a mixture of mid-level office or teaching positions – often used as a starting location for those new to the city. Demographic single or couple most likely Thai or Western Expat.
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Unit Comparison:
| Life Rama 4- Asoke | Ideo Sukhumvit-Rama 4 |
| Studio 26.5 sqm, 28.5 sqm.
1Bed: 30 sqm, 32 sqm. 2Bed: 47 sqm, 50 sqm, 60sqm, 65 sqm, 75 sqm. |
Studio: 29.5 sqm
1Bed: 34.5 sqm
1Bed+: 44 sqm
2Bed: 65 sqm, 75 sqm
Penthouse 3Bed: 88 sqm, 109.5 sqm, 111.5 sqm, 133 sqm.
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| Vertiplex Type:
1Bed/2Bed: 40.5 sqm, 41 sqm, 48 sqm, 52 sqm, 51.5 sqm. 2Bed/3Bed: 58.5 sqm, 82 sqm, 78.5 sqm, 82 sqm, 91 sqm.
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Unit Comparisons:
Life: 35 sqm Ideo: 34.5 sqm
Advantage Life:
2 door access to bathroom
Longer balcony
Multi-functional extra ‘Plus space’ to use as guest stay area or work/play area
Life: 65 sqm Ideo: 65 sqm
Advantage Life: Advantage Ideo:
Double aspect view Includes bath
Larger corner living room Longer balcony
Benefits corner floor plan with windows Both bathrooms ensuite
Access to balcony from bedroom & living
room
Summary:
Both projects benefit from a consistent developer with a positive reputation in the city, which is attractive during the tenant-finding process and the re-sale market. Both developers are also at the forefront of the new-era condominium high-rise design, with increasingly impressive facilities and common areas which cannot be matched in older buildings. The Life Rama 4-Asoke high-floor Vertiplex unit type with stunning river or park views is an attractive opportunity, especially as the loft space is considered ‘free space’ with common area fee not being applicable. These higher floor 2 bed options can easily function as 3 bedroom, which is rare in the central condo market for new buildings. The on-going development of the Rama 4 to Lumphini area has huge potential for consistent rental. Phra-khanong has proven to be a popular and consistent real estate performer, combined with a brand such as Ananda – it has all the ingredients at buy to let investor typically looks for.
For further information on these projects and up-to-date pricing please follow:
https://lazudi.com/th-en/bangkok/project/life-rama4-asoke-4660
https://lazudi.com/th-en/bangkok/project/ideo-sukhumvit-%E2%80%93-rama-4-1205
