Mystery Thai investor snaps up 35 units in Bangkok condo development

A mystery Thai investor has snapped up all of the remaining 35 units at a central Bangkok condominium development.

The Rise, located on Soi Prommitr 1, Sukhumvit Soi 39, was launched in 2007 by Thai Nissan Rinkai Mark Co. Limited. The completed 77-unit property comprises two, three and four bedroom homes over seven storeys, with sizes ranging from 99 square metres to 318 square metres.

Property Report understands the investor paid an average of THB55,000 per square metre for the bulk purchase – significantly below the average THB80,000 per square metre being asked commercially. Condominiums were originally priced from THB10.7 million for a two-bedroom unit, upwards to THB34.4 million for one of six Penthouse units.

A spokesperson for the developer was able to confirm a Thai investor had purchased 35 units, but was unable to confirm the price paid nor elaborate on the identity of the investor. She added the development was now sold out.

SOURCE: Property Report.com