Bangkok’s mass-transit systems and its influence on the real estate market

About ten years ago, when the miserable traffic conditions in Bangkok were getting worse, the introduction of advanced technology and the two-line Skytrain public transportation option became a principal push for numerous urbanities to adjust their lifestyles. In a short period of time the number of Skytrain passengers increased significantly. Urban lifestyle research made clear that two years ago urbanites spent two daily hours traveling around the city.

Today the residents – young couples, young professionals and singles demand more comfort and quality of daily life. They wish a rapid and short rail trip to work and the fastest access possible to fancy eateries, spas, fitness centres, huge shopping malls, museums, theatres, sidewalk cafes and cool spots to hang out. Advice on getting around Bangkok

The presence of convenient inner-urban transportation and higher travel expenses push Bangkok to change in other means, with cultural and social shifts away from large families to create the new way of life. Mom and dad will allow their unmarried sons and daughters, leaving their nest to stay in modestly-sized city condos or studios on working days and return back home on weekends.

A reputed professor from Thammasat University and well-known Bangkok lifestyles researcher recently declared that the demand for apartments located nearby mass-transit is still increasing, with the main group of buyers containing young middle-income urbanites. The one-and two bedroom condos are the most popular properties costing between two-and five million baht.

BTS Skytrain station

The professor’s research also explained that condo units have become Bangkok’s highlights in terms of the city’s real estate market, with inner-city transport costs and the urban lifestyle quickly changing as the main reasons creating the boom. Developers lure young buyers with a slogan of “new modern living”. The functions, location, amenities and even natural atmosphere are all designed to suit their customers’ lifestyle. Bangkok real estate guide

The city not solely provides the availability of units for young working people, but there are condos as well for mid-aged executives whose kids have already become adults. They prefer to live more independently but not wish to spend much time on transport. Research showed that many rich retirees are living in city condos. Their financial situation makes it affordable to purchase a condo as a second home. Often they let their children live in their original home.

The Agency for Real Estate Affairs in Bangkok did research, which showed that almost 50 per cent of the 117 residential property projects, which’s building activities in Bangkok started during the year’s first two months, will be condo complexes. The developers built nearly 53 percent of the condos along the Skytrain. Sukhumvit Soi 65 is a good example of a booming residential area, housing mainly young professionals with straightforward access to the Phetchaburi and Sukhumvit roads.