Emsphere IKEA Bangkok Housing Trends

 

🎉“The Bangkok housing market near Emsphere and IKEA presented a 7.05% growth” ✨

 

A new opening of Emsphere and IKEA Thailand is influencing Bangkok housing market. Located in Em District, they drive up demand for both luxury residential spaces and boost more affordable and mid-range housing. Emsphere District or Phrom Phong area attracts a wide range of buyers and renters. 

Bangkok housing market from 2018 to 2023 presented a strong growth of 7.05%. Housing listings reached a peak in 2022 with 1,794 properties and stabilized to 1,551 in 2023.  

In this guide, we provide you with an insightful analysis of how Emsphere Mall changes the shape of Bangkok real estate. You will also discover key insights and opportunities influencing your real estate decisions.

Table of Contents

 

Overview of Bangkok Housing Price 2018-2023

From FazWaz Thailand Data insight, we find Bangkok housing trends from 2018 to 2023 near Emsphere location increase in property interest in both condos and houses. The median price for all properties was 4 million Baht in 5 years. 

Our data reveals a decrease in property listings about 18.60% from 2018 to 2019 despite a 12.71% rise in average prices. In 2020, listings increased by 6.67%, yet average prices fell by approximately 19.97%.

The market maintained a balance of rental and sale listings through 2020 and 2021. Coinciding with the Emsphere opening, the trend increased; by 2022, the interest peaked to 3357 condos. In 2023, the market remained robust with 1,820 listings. This reflects sustained interest in the area following the Emsphere's launch.

Sales Price Trends Near Emsphere and IKEA

Housing trends near Emsphere and IKEA Thailand have seen ups and downs from 2018 to 2023. In 2018, the market started strong, priced at an average of 12.34 million Baht. Luxury houses were in high demand. Prices rose in 2019 to an average of 14.10 million Baht, indicating a strong market.

The market cooled slightly in 2020. The median sales price dipped to 12.18 million Baht, though interest in houses are high. This trend reversed in 2021 with condos and houses gaining traction highlighted by some exceptionally high-priced listings.

In 2022, the market took a slight hit with the average price falling to 12.85 million Baht. But by 2023, it bounced back to 13.81 million Baht. It shows resilience and a renewed interest in condos and houses with a particularly diverse range of houses catching buyers' attention.

Buyer and Renter Demographic Demand

In the areas near Emsphere in Bangkok, the real estate market draws various buyers. Thailand leads with 19.7% of buyers followed by the United States at 11.3% and France at 10.6%. 

Buyers are primarily interested in buying Bangkok condos. 97.2% of buyers from Thailand, the US, and France purchase with a particular preference for 1, 2, and 3-bedroom units. The median sales price stands at a competitive 6.52 million Baht. Buyers appeal to condos in these areas because of its offerings and strategic location. It makes it a sought-after destination for property investment.

For the rental landscape, it showcases diverse preferences among renters. The United States leads with 13.6% of renters, followed closely by Thailand at 13%, and the United Kingdom at 12.3%. Condos emerge as the favored choice with an average occupancy rate of 97.5%. 

These renters primarily opt for 1-bedroom condos. 1 bedroom condos indicate a preference for compact and convenient living spaces in proximity to Emsphere and its amenities. The appeal of this area may be attributed to its strategic location and accessibility to key facilities.

Rental Market Analysis in Key Areas

Bangkok rental property market from 2018 to 2023 has seen dramatic shifts. In 2018, property prices averaged 1.19 Million Baht with condos at a high demand of 1.7 million Baht and houses at 652,000 Baht. 2019 brought a 50.5% increase in house prices to 982K Baht while condo prices dipped to 661,000 Baht.

The year 2020 brought a steep 770% surge in overall rental prices to 6.12 million Baht, largely driven by the Emsphere District. House prices soared to 21.06 million Baht and condos rose to 1.27 million Baht. However, 2021 saw a sharp correction with overall prices dropping by 72.4% to 1.69 million Baht.

In 2022, the trend continued downward with a 46.5% reduction in average prices to 904,934 Baht. By October 2023, the average price further decreased by 37.6% to 565,301 Baht. 

We observe these fluctuations reflect diverse economic and market factors, including shifts in demand and supply, economic trends, and policy changes. 

The significant increase in property prices in 2020 was driven by a surge in demand and a constrained supply. The subsequent decreases in the following years were clear indicators of market adjustments, reflecting changing buyer preferences and shifting economic conditions.

Rental Yield and Future Projections

Bangkok rental market is closely linked to property price trends from 2018 to 2023. It shows varying rental yields. Initially, yields were higher particularly in 2020 due to strong demand and limited supply averaging around 5%. 

However, with the market adjustments and price decreases in subsequent years, rental yields experienced some fluctuations. Currently, the outlook for the future suggests a stabilization of rental yields expected to hover around 4-5%. This projection is based on the anticipated balance in supply and demand coupled with steady economic growth indicating a gradual recovery and sustained appeal in Bangkok’s rental sector.

Supply vs. Demand

Bangkok property market near Emsphere and IKEA shows varied trends over the years. Supplies in 2018 feature 516 properties in total. By 2019, higher-value properties gained prominence despite fewer listings. Prices fluctuated, dropping in 2020 but rebounding in 2021. 

Listings notably increased in 2022 then slightly decreased in 2023, though prices remained relatively stable. This indicates a dynamic market balancing supply changes and pricing.

On the demand front, properties near Emsphere and IKEA in Bangkok showed distinct trends from 2018 to 2023. 2018 saw robust interest in buying condos over renting. By 2019, the demand increased significantly especially for rentals. Rental and sales demands were balanced in 2020, but in 2021, it shifted slightly with a steady increase in demand. 

Condos represent 75% and houses 25%. The year 2022 marked a substantial rise in demand for condos at 81.9% and houses at 18.1%. As of 2023, the trend continues with condos leading at 76%  remaining the more popular choice.

We see a dynamic balance in Bangkok property market near Emsphere and IKEA. Supply trends with their varying listings and prices adapt to market demand. You can see a strong inclination towards condos and in response the market adapts to ensure a flexible and responsive real estate environment.

Impact of Infrastructure and Public Transport

Infrastructure like the Phrom Phong and Thong Lo BTS stations directly impacts property values near Emsphere District. These transport links boost rental and sales markets as properties near well-connected areas are highly sought after. This demand leads to higher property values and increased rental yields. You will see the analysis below.

Roads like the Sirat Expressway also improve accessibility, making the area more appealing to residents and investors, further elevating real estate appeal.

Popular Locations near Emsphere and IKEA

We recommend you consider Khlong Toei, Watthana, and Phra Khanong as top locations for property investment near Emsphere and IKEA Thailand. Let's delve into why these neighborhoods stand out as wise choices for your real estate investment.

• Khlong Toei attracts many buyers from UK, US, and France. The area does provide 1-3 bedroom condos with a median price of 13.30 million Baht. We recommend Life Rama 4—a popular condo in Khlong Toei. Besides, we ensure it will be your smart choice for Bangkok property investment.
  
  
• Watthana serves as a prime area in Bangkok. Condos emerge as the most favored property type with a median sales price of 13.70 million Baht. The area mainly attracts Thais who make up about 26.19% of condo buyers, surpassing other nationalities such as those from France, the United States, and Taiwan.
  
  
• Phra Khanong—You'll find a range of properties in Phra Khanong including condos and townhouses, with prices averaging at 6.50 million Baht. We recommend Skyrise Avenue Sukhumvit 64 because it's only 500 meters from Punnawithi BTS. You are conveniently located to enjoy its comprehensive amenities. Phra Khanong is popular among buyers from Thailand, France, and the United States reflecting its diverse appeal.

Grab Your Chance: Your Perfect Home Near the Emsphere and IKEA Awaits!

You can be part of Bangkok real estate near Emsphere and IKEA. Properties have shown remarkable growth and diversity since 2018. We offer you numerous choices from upscale villas to modern condos, in a locale that's gaining rapid popularity. 

With remarkable growth since 2018, this area offers diverse property choices from villas to condos, perfect for living or investing. Capitalize on the prime location and convenient transport – your next dream home or investment awaits!

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