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Pathumwan, Bangkok’s Most Luxurious Area, With Plenty of Shopping and Dining Options

Gleaming luxury towers abound in this pocket of the Thai capital

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Chulalongkorn University is one of the best universities in Thailand located in Bangkok.

Naris Visitsin / Getty Images
Chulalongkorn University is one of the best universities in Thailand located in Bangkok.
Naris Visitsin / Getty Images

Conveniently set in central Bangkok, the Pathumwan district is this capital city’s most enviable neighborhood for both fashionable locals and foreigners alike. Marked by luxury malls, a massive public park and the national sports arena, it draws crowds from across the city.

"Pathumwan is one of 50 districts in Bangkok," explained Tim Skevington of Richmont's Luxury Real Estate. "It was established in 1914 and it’s named after a temple and a palace in the area. The temple is called Wat Pathum Wanaram, which means Lotus Forest Temple and the palace, Sa Pathum Palace, translates to Lotus Pond Palace," he said.

Wat Pathum Wanaram is a working Buddhist temple (founded in 1857 by King Mongkut, or Rama IV), and Sa Pathum Palace is the former residence of Queen Savang Vadhana, now a museum.

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Boundaries

Pathumwan is marked to the south by Rama IV Road and to the north by Rama I Road and the Khlong Saen Saep Canal. The western boundary is the Bangkok Central train station and the eastern boundary is Wireless Road, one of the main roads in this district.

Price range

Those considering a move to Bangkok should be aware of the two types of property contracts: leasehold and freehold.

The Royal Family owns a good part of this area. Royal Family-controlled properties are termed leasehold and only available for rent (leases can range from 10 to 30 years). Freehold properties, which can be purchased, are managed by independent developers.

Mr. Skevington noted that, "Prices start at THB 19,506,900 (US$600,000) for a new (30-year) leasehold two-bedroom condominium in the Magnolias Rajadamri (on the 17th to 54th floors above the new Waldorf Astoria Hotel). They can range as high as THB 188,566,700 (US $5.8 million) and up for a brand new freehold three-bedroom duplex condominium at 98 Wireless, which is Bangkok's most expensive condominium and was launched at the beginning of 2016."

Housing stock

There are no single-family homes for sale in Pathumwan. All are either rental apartments or condominiums (leasehold or freehold).

"The residential market is relatively young in Thailand; the oldest residential building goes back maybe 30 years. The newer architecture is very impressive," Mr. Skevington said. He points specifically to the Magnolias Rajadamri condominium above the Waldorf Astoria Hotel, a mixed-use property with residential, commercial and hotel space." The contemporary, cylindrical glass tower rises 60 floors above the hotel, with 316 units.

But gleaming luxury towers and high-rise buildings do get a touch of traditional Thai style from the old shophouses and the area temple, which are the historic anchors in the neighborhood.

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What makes it unique

"The buildings are very luxurious—only high-end buildings are being constructed there now because of the cost of the land. The proximity to the Central Business District (directly to the south of Rama IV Road) and Lumpini Park which, for a while, was the city’s only major green space, attract residents," Mr. Skevington said. "Also, it’s very convenient to mass transit, both the SkyTrain and the subway, or MRT, line are easily accessible. That’s a major consideration for people living in Bangkok because the traffic here is so terrible."

It’s also very attractive to expats because this is where the embassies are located—including those for the United States, Ireland, Australia, South Africa, Finland, Japan, Qatar and the British embassy.  

Fireworks on Thai Father's Day at Lumpini Par and Saladaeng district, Bangkok, Thailand

Phongsiri Kittikamhaeng / Getty Images

Luxury amenities

Cobby Leathers of Sansiri PLC, one of the largest real estate developers in Thailand and the group behind 98 Wireless, the building with the most expensive condo in Bangkok, shared his recommendations. "The Central Embassy Department store is a new build (located at the Ploenchit BTS station), and it has all of the major high-end fashion brands from around the world. The Park Hyatt Hotel just opened within the mall, and other hotels in the area include the St. Regis, Okura, Plaza Athénée, Conrad, Grand Hyatt and Kempinski," he said.

Bangkok is a shopper’s paradise well-known for its luxury label-loving malls. "Pathumwan is home to Bangkok’s largest shopping complexes, the biggest of which is Siam Paragon, a mecca for any local and foreign shoppers coming to Bangkok. Everyone who comes to Bangkok will find themselves in Pathumwan because of this mall. There’s another shopping mall called Gaysorn where you’ll find all the luxury labels such as Gucci, Louis Vuitton and Dior,"  Mr. Skevington said.

"Michelin restaurant ratings just hit Bangkok this December," Mr. Leathers noted, "and notable restaurants in the area are Gaggan for fine Indian cuisine and Saneh Jaan for Thai."

As for recreation, Mr. Skevington mentioned the  "Royal Bangkok Sports Club, a high society, or HiSo as we say in Thailand, private sports club (with a horse track and golf course) and the National Stadium." The neighborhood is also home to Lumpini Park, which Mr. Skevington said is considered to be Bangkok’s Central Park.

Thailand’s oldest university, Chulalongkorn University, is located in Pathumwan. Mr. Skevington described it akin to the Oxford or Cambridge of Thailand. Although not directly in the neighborhood, it’s a quick commute to the Shrewsbury International School (ages 3-18) and the American School of Bangkok (pre-kindergarten to grade 12).

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Who lives there

Pathumwan is a mix of local and foreign residents in academics, the medical profession, diplomats at foreign embassies, business professionals and a sprinkling of wealthy retired people who keep pied-à-terres in Bangkok.

"Some of Thailand’s wealthiest families live in Pathumwan," Mr. Skevington said. "In addition, there are a lot of expats—Asian, North American and European. Asian expats in particular are buying either as retirement or holiday homes for themselves or occasionally as an investment. We find in this market that Asian buyers are really at the forefront of new property purchases."

Notable residents

This is where you’ll rub elbows with high-net-worth residents, and possibly celebrities, Mr. Skevington said. Bill Heinecke (a U.S. and Thai citizen), CEO of one of Thailand's biggest companies, Minor International, keeps a residence at The St. Regis Residences on Rajdamri Road, which he developed.

Also, Khun Vichai Srivaddhanaprabha, CEO of King Power International Group, which operates hotel and duty-free businesses, is the owner of "The One" penthouse at 98 Wireless, Thailand’s most expensive property, which he bought for an undisclosed sum, in an off-market deal earlier this year.

Outlook

"This area is considered the premium market, and buyers continue to buy and have the power to buy at this segment, versus the low-mid segment, which are susceptible to crunches arising from the job market, tightened lending and credit issues. As land prices continue to rise across Bangkok, the central areas command the highest land prices in Thailand," Mr. Leathers said. "However, this does allow buyers the upside of continued capital appreciation moving forward."

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Mr. Skevington is also positive about the outlook. "We are finding huge interest from overseas buyers, and there are a lot of reasons for that. Bangkok is very affordable compared to where most buyers are coming from, and Pathumwan has everything you want—great medical facilities, nice parks, fantastic food, easy transportation, and wonderful people. Although it’s modernizing quite rapidly, there are a lot of traditions here, which appeals to a lot of people as well. [Thailand is] the only country in Southeast Asia that wasn’t colonized, so it has a very unique character," Mr. Skevington said.

He said that there is currently a booming market, which he believes will last through the next year. The condominium market has really only developed in the last 30 years, so there is great potential," Mr. Skevington said. "The market has showed steady growth over the last 15 years, average capital growth of about 6% to 8% in the market."

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