In response to overwhelming demand, Koon Estate, a property developer, and Asia International School Limited (AISL), which operates Harrow International Schools in Asia, have determined to expedite the second section of their luxurious housing challenge, Hyde Park Garden.
Nuttawat Kuvijitsuwan, Koon Estate’s executive director, revealed that planning for the brand new phase has commenced earlier than initially planned, driven by the spectacular sales performance of the primary phase.
“Within six months from our launch in March 2023, we offered 32 models, which accounts for 50% of the primary phase. “We anticipate that the remaining 50% might be bought by the top of the yr.”
Nuttawat explained that almost all of the home patrons are parents with kids attending Harrow International School. Trade secret and father see the homes as optimum second properties due to their handy proximity to the varsity.
New families aiming to enroll their newborns within the school and Thais who’ve returned from abroad and plan to establish families in Thailand are the first patrons of these properties as primary residences.
“About 20% of these consumers are pure investors, aspiring to lease the models to folks whose youngsters are studying at the school and reside far away. These homes can yield monthly rents starting from 120,000 to 150,000 baht.”
Hyde Park Garden
Hyde Park Garden, an ultra-luxury detached single-house challenge valued at 6.5 billion baht, will occupy a 52-rai plot adjacent to Harrow International School Bangkok in the Don Mueang area. Both the plot and the varsity are owned by AISL. The project, which includes a direct gate to the college, might be executed in two phases, reported Bangkok Post.
Phase one, which spans 25 rai, includes sixty one items, with 32 units already sold. The remaining models from section one might be launched on October 6, with prices starting from 38 million to eighty one million baht for plots sized between 73 and 166 square toes.
Nuttawat disclosed that the new section might be situated on the remaining plot subsequent to the first section. Prices for the second part might be 5-10% higher than the primary section as a outcome of rising development prices.
Charnwit Pasuwat, head of design development at property consultancy CBRE Thailand, noted that Bangkok’s northern zone, specifically the Don Mueang area, has potential because of its well-developed infrastructure, transport links, and proximity to the airport.
“With these components, land appraisal prices in this area rose by 25% to 150,000 baht per sq wah (one wah equals 2 metres) in the latest appraisal cycle for the years 2023-2026, in comparison with one hundred twenty,000 baht within the previous cycle. In contrast, the common improve in Bangkok was a mere 2.8%.”
Follow extra of The Thaiger’s newest stories on our new Facebook web page HERE..