Thailand listed property developer Baan DSC Co., Ltd. has launched a newly built grade A apartment (single ownership) for rent in Sukhumvit 31, named Avora 31. This low-rise apartment building has been designed to meet the requirements of Japanese expatriates working in the downtown areas of Bangkok, according to property consultancy firm CBRE.
Avora 31 is a 51-unit apartment development for rent with only 7-storeys, thereby allowing higher ceilings. Within each unit, a high standard of modern décor, furnishings and appliances is provided. Facilities for tenants include a swimming pool, gym, sauna, key-card system, 24-hour security guard, shuttle tuk-tuk, and parking spaces.
“Sukhumvit 31 appeals to Japanese expatriate tenants who want to live in Bangkok’s downtown area as there are facilities which match their lifestyle, such as supermarkets, shopping centres, Japanese restaurants and access to Phrom Phong BTS station,” says Theerathorn Prapunpong, Director and Head of Residential Leasing at CBRE Thailand.
Avora 31 offers one-bedroom units with 55 – 66 square metres at THB 38,000 – 45,000 per month, two-bedroom units with 120 - 125 square metres at THB 68,000 - 78,000 per month, and 170-square-metre three-bedroom units at THB 90,000 – 94,000 per month. In January 2013, the developer appointed CBRE as the marketing consultant, sole leasing agent, and property manager for Avora 31 to ensure the delivery of services to an international standard.
According to the latest survey by CBRE Research, there are approximately 8,500 apartment units, including grade A and grade B properties, located between Sukhumvit 1 – 65 and Sukhumvit 2 – 44, with fewer than 250 units due to be completed in 2013. The average occupancy rate of apartments in this area continues to be very high at 91.4%.
“Given the limited new apartment supply in the downtown areas, I am strongly confident that Avora 31 will be fully occupied soon,” Theerathorn added.