“Chidlom”, a super prime area in central Bangkok continues to set new land price records. Land values continue to soar with each transaction. Recent appraisal from the Treasury Department for 2023-2026 reveals that land price in prime areas like Ploenchit, Witthayu, and Silom commands over 1 million baht per square wah. However, actual transaction prices have surpassed this mark for over a decade. In 2024, the progression of Bangkok’s urban landscape, driven by mega-projects, further propelled land prices. Chidlom-Ploenchit area, in particular, has seen land prices skyrocket to 3.75 million baht per square wah, reflecting the increasing value of the location and assuring that owning a property in this area will place it in close proximity to more world-class developments in the future.

Currently, projects located in the Chidlom area are all flagship and super luxury developments. As there is almost no vacant land left for development in this area, thus current landowners are waiting for the right moment to sell. These land plots include both freehold and leasehold properties.

In terms of opportunities and foreign demand, the area is surrounded by approximately 40 office buildings, totaling 1.16 million square meters. This includes Grade A office buildings such as Park Ventures and Gaysorn Tower, which command the highest rental rates per square meter. Additionally, the area is home to more than 24 embassies, 15 four- and five-star hotels, and world-class amenities like Central Embassy shopping mall and BDMS Wellness Clinic, reflecting the significant foreign purchasing power hidden within this location.

Freehold condominiums in this area offer rental yields of 3.4% to 6.2% annually, influenced by factors such as project quality, condition, and interior design. Monthly rental rates vary widely based on unit size and type. For instance, a studio (unit size 24-40 sq.m) can rent for 17,000-40,000 baht per month, a one-bedroom (28-106 sq.m) can rent for 25,000-70,000 baht per month, two-bedrooms (45-140 sq.m) can rent for 30,000-140,000 baht, three-bedrooms (80-290 sq.m) can rent for 60,000-300,000 baht, and four-bedrooms (250-380 sq.m) can rent for 250,000-350,000 baht per month.

Leasehold condominiums offer higher rental yields due to having larger unit size. A one-bedroom leasehold unit (unit size 48-90 sq.m) can rent for 45,000-120,000 baht per month, a two-bedrooms unit (80-240 sq.m) can rent for 60,000-120,000 baht per month, a three-bedrooms unit (85-360 sq.m) can rent for 75,000-400,000 baht, and a four-bedroom unit (230-385 sq.m) can rent for 350,000-450,000 baht per month.