In recent years there has been a definitive movement in creating more stylish, more international and more luxurious condominiums in Bangkok’s city center. The Address condominium brand certainly embodies this trend. Launched initially in 2008 with The Address 42, it was followed soon after by The Address Chidlom, The Address Siam and The Address Pathumwan which all offer not only superb Bangkok condominium buildings, but also fantastic addresses in Bangkok.

In the future there will also be The Address Sathorn, The Address Phayathai and The Address Asoke and The Address 28 located on Sukhumvit 28 in Phrom Phong, but for now let’s look at the fabulous well constructed and timelessly styled Address condominiums in Bangkok’s city center that are available to rent now.

First of all we will begin with the Address 42 located in Ekamai. The Address 42 is only 350m from the Ekamai BTS station and is superbly located in one of Sukhumvit’s fastest up and coming districts. Within a 500m radius (roughly a maximum 10mins walk) you can find all the following amenities: Bangkok’s Mediplex Center, Ekamai BTS station, 2 supermarkets, Major Cineplex, California Wow fitness center, True Café, Starbucks coffee shop & numerous restaurants & shops. http://www.easyhomes.tv/property/the-address-sukhumvit-42-ekkamai-1176

Ekamai certainly looks set to become the new Thonglor, with trendy and stylish up-market shopping areas like The Park Lane and Horizon. The Address 42 is a low-rise condo with a roof-top swimming pool and gymnasium also the building features saunas, and a roof-top garden. Of course as with any luxurious Bangkok condominium there is covered parking and 24hr security.

However for those renting a condo in The Address 42 it is the quality of the little details and finishing’s that sets is apart from other condos in the Ekamai area.
Moving on further down the Sukhumvit road towards Siam, we come to the high-end and exclusive district of Chit Lom. The Address Chit Lom is a quite unique Bangkok condominium beautifully appointed in an Art-Deco style, the two buildings that make up The Address Chidlom are both dramatic and stylish in design. With excellent finishing’s throughout including double-glazed windows, a real rarity in Bangkok, The Address Chit Lom is located within walking distance of both the BTS Chidlom and Central Chidlom.

The Address Chidlom contains a beautiful infinity style swimming pool, large gymnasium and other facilities expected in a luxury Bangkok condo. And if you are a fan of art deco style then leasing a condo in The Address Chidlom may be ideal for you. http://www.easyhomes.tv/property/the-address-chidlom-1564

If we move up the BTS line one more stop we get to Siam Square and close to both The Address Siam and The Address Pathumwan, which are both best accessed via the Ratchatewi BTS station. The Address Siam is a high-rise condo which offers residents superb views of the Bangkok city center from both the condo windows and also from the superb roof-top swimming pool and roof-top sun-deck. http://www.easyhomes.tv/property/the-address-siam-ratchathewi-1647

Fewer locations and therefore fewer addresses can offer the level of amenities, activities and general level of living that those that rent in The Address Siam and The Address Phatumwan can receive. With access to the Siam Paragon, Discovery Center, Siam Center, Siam Square and MBK center all within walking distance.

In addition to the amenities that can be accessed in Siam Square, residents of The Address and The Address Pathumwan can also easily access the BTS at Ratchathewi and the Airport link at Rajaprarop station, meaning you can be at Suvarnabhumi International Airport in just over 30mins and having to face no traffic.

So whether you want to live in Sukhumvit, or around Siam Square or even rent a condo close to the airport link then the Address branded condominiums can offer an luxurious up-market condominium address for you to live in.

An oversupply of condos in Bangkok would be a reason to stop buying condos in Bangkok, as the Bangkok Real Estate Market becomes awash with new condos for rent and sale.

So what are the figures and how can we draw this conclusion about the Bangkok condominium market?

Well even as early as February 2008 Bangkok Real Estate Market Analysts where remarking that the supply was becoming too great. With a total residential demand in the Bangkok property market of between 66,000 – 80,000 per year in all types of residential property in Bangkok. Which includes Town-Houses, Detached Houses and various other low-rise developments, that do not include condominiums in Bangkok.

However given this rate of supply there were in fact 80,000 – 90,000 condominium units launched in 2008, which in 2010 will come to completion and be launched on to the market. This of course will be in addition to all the other existing condos in Bangkok that are currently unoccupied.

One does not have to be a Bangkok Real Estate expert to deduce that the figures do not add up, and the increased supply of condos on to the Bangkok market cannot be met by the demand of the residents of Bangkok.

In July 2009 the Thailand Business News released an article stating that in deed not only was the demand cited in 2008 was too low for condos in Bangkok, but that also the general demand for condominiums was in fact on the decrease with more residents of Bangkok seeking alternative forms of property such as Town Houses or Detached Houses. In fact companies like Preuksa and Property Perfect released statements claiming that they would be releasing less condos in Bangkok than they had previously planned.

Of course there are developers who have bucked the trend of launching condominiums in Bangkok, Asian Properties (AP) being one such company. Ironically AP has long been known for building some of the best Townhouse and Detached House developments in Bangkok. One of Thailand’s leading English language newspapers, The Nation, reported in May 2009 that AP had decided to launch 12 new residential projects in 2009 and 7 of them where to be condominium projects.

In the autumn of 2009 AP launched The Address Sukhumvit 28, The Address Sathorn, The Address Phayathai and The Address Asoke. These projects are mainly located to existing BTS stations in Phrom Phong and Surasak and in addition are also located near the new Airport Link stations on Makasan and Ratchaparop which will allow residents easy access to the Suvarnabhumi International Airport. The Address brand is a high-end Bangkok condominium development and attracted a lot of the high-end property market whom were willing to pay over THB 100,000/ sqm for a condominium in central Bangkok.

In fact the most expensive of these Bangkok residential developments was The Address Sukhumvit 28, which was being sold at an average price of THB 150,000/sqm. This condominium development sold 85% of its units in the first pre-sales weekend!

In addition AP has launched 10 ‘Life’ branded condominium developments spread all over the city center. Also located near BTS and MRT stations these properties have offered a slightly lower level of development aiming at the mid-end market. But with an average of 500 units per building split into Studio, 1br and 2br units that makes about 5 000 units hitting the market over the next 2 years from this brand alone. And with the new Address units incorporated into the market, the Bangkok property market can expect see and increase in Bangkok condos from AP to the tune of 7,500 – 8,000 units alone!

So why are people buying these Bangkok condos?

Well many are buying multiple condo units, with investors buying as many as 10 a time in some buildings in Bangkok. But if they are buying them for speculative purposes to ‘flip’ them at the time of transfer then they are playing a very risky game, as we know that the demand is not meeting the supply of units, and this demand is often including the speculators.

The other reason is for the buy-to-let market, but again this indeed is a risky game. The only people in large numbers that rent condos in Bangkok are foreigners or expats. And there are just not that many expats in Bangkok that can afford to pay THB 25,000/month or more for a decent sized and located unit.

So there look like there will be an awful lot of Bangkok condominiums left unoccupied on the market however stylish, well located or attractive they are.

So our advice?

Stop buying new condos in Bangkok!