Icon Siam Real Estate Overview

The Icon Siam area, located in Khlong San District along the Chao Phraya River, has undergone a remarkable transformation over the past decade. Once a quiet, underdeveloped part of Bangkok, it has evolved into a thriving hub of luxury living, commerce, and tourism. This evolution has been driven by strategic urban planning, mega-projects like Icon Siam, and improved infrastructure. Before the development of Icon Siam, the Khlong San District was primarily a residential area with limited commercial activity. The real estate market was dominated by low-rise homes, small shops, and older condominiums. Property prices were relatively low compared to central Bangkok areas like Sukhumvit or Sathorn.

Between 2005 and 2010, average condo prices in the area ranged from 50,000 to 70,000 THB per square meter. Land prices were between 100,000 and 200,000 THB per square wah. The area’s infrastructure was limited, and there were few public transportation options. Most residents relied on buses, ferries, and private vehicles to commute. Due to the lack of connectivity and amenities, the area was largely overlooked by developers and investors. The announcement of Icon Siam in 2013 marked a turning point for the area. This mega mixed-use project, developed by Siam Piwat, Magnolia Quality Development Corporation (MQDC), and Charoen Pokphand Group, signaled the beginning of a new era for Khlong San. Developers began launching luxury condominiums along Charoen Nakhon Road, targeting high-net-worth individuals and expatriates. The area saw the opening of new restaurants, cafes, and retail spaces, catering to the growing population.

The Icon Siam area has experienced significant increases in real estate prices and demand. Average condo prices have risen to 120,000–180,000 THB per square meter, while land prices have climbed to 300,000–500,000 THB per square wah. Additionally, the area has seen a 20–30% annual increase in demand for residential properties. The value of land in Khlong San has skyrocketed, with riverside plots commanding premium prices. Its proximity to key infrastructure, including 99 passenger piers and major highways, has revitalized the Charoen Nakhon-Khlong San area, driving land prices up by over 300% since its 2018 opening

1. Icon Siam Real Estate: Strategic Location

One of the key factors driving the real estate market around Icon Siam is its strategic location. Situated along the Chao Phraya River, Icon Siam offers breathtaking views and easy access to Bangkok’s central business districts, including Sathorn, Silom, and Sukhumvit. The area is well-connected by road, river, and public transportation, making it a convenient place to live and work.

Over the years, the development of infrastructure, such as the BTS Skytrain extension and improved road networks, has further enhanced the accessibility of Icon Siam. This has led to increased demand for properties in the area, as more people recognize the benefits of living in a well-connected and vibrant neighborhood.

2. Icon Siam Real Estate: Luxury Riverside Condominiums

The real estate market around Icon Siam offers a wide range of options, from affordable riverside condominiums to ultra-luxury properties. Over the past few years, developers have focused on creating high-quality residential projects that cater to different segments of the market.

Affordable condominiums in the area typically range from 3 million to 10 million baht, offering modern amenities and stunning river views. These properties are popular among young professionals and small families looking for a comfortable and convenient lifestyle.

On the other hand, luxury condominiums in Icon Siam are designed to meet the demands of high-net-worth individuals. These properties often feature spacious layouts, premium finishes, and exclusive facilities such as private pools, fitness centers, and 24-hour concierge services. Prices for luxury condominiums can range from 20 million to over 100 million baht, depending on the size and location of the unit.

3. Icon Siam: Mega Projects

The development of Icon Siam, a mega mixed-use project, has been a game-changer for the real estate market in the area. As one of the largest and most ambitious projects in Bangkok, Icon Siam features a world-class shopping mall, luxury residences, office spaces, and a hotel.

Since its opening in 2018, Icon Siam has become a major landmark in Bangkok, attracting millions of visitors and spurring further development in the surrounding area, with new residential and commercial projects being launched to meet the growing demand.

The success of Icon Siam has demonstrated the potential of the area as a prime real estate destination, attracting both local and international investors.

4. Icon Siam: A Commercial Hub

Icon Siam stands as a dynamic hub for both residential and commercial activity. Its shopping mall, boasting a diverse selection of over 500 international and local brands, has become a sought-after destination for shopping, dining, and entertainment, attracting substantial foot traffic and bolstering the local economy.

The mall’s success has spurred heightened demand for commercial spaces, including office and retail units, driving the development of new projects and investment opportunities in the surrounding area. This commercial expansion has further solidified Icon Siam’s position as a major contributor to Bangkok’s economic landscape.

5. Icon Siam: International Schools

Icon Siam, a major luxury development in Bangkok, is surrounded by several top-tier international schools that cater to expatriate families. Among these, Shrewsbury International School Riverside stands out for its excellent reputation and proximity to Icon Siam. The school is located at 1922 Charoen Krung Road, Bang Kho Laem District. It can be reached via ferry services across the Chao Phraya River or by driving through bridges like Rama III Bridge or Taksin Bridge. Shrewsbury International School offers an English National Curriculum-based education for students aged 2 to 18 years. The curriculum emphasizes academic rigor while fostering creativity and critical thinking skills. Students typically take IGCSE exams in Year 11 and A-levels in Year 13.

Buy a Property in Icon Siam

Buying a property in Icon Siam offers a gateway to a luxurious and convenient lifestyle. Whether you’re seeking a permanent residence, a vacation home, or an investment property, the area presents a range of options to suit your needs. With Keller Henson, you’ll find the property in Icon Siam you’re looking for, and our team will guide you from understanding Thai regulations in regards to foreign ownership conditions to buying a property in Icon Siam safely and smoothly. For more information, consult our guide to buying a property in Thailand.  

Purchase a Condominium in Icon Siam

Condominiums are the most prevalent property type in the Icon Siam area. These high-rise developments offer modern living spaces with stunning river views and access to world-class amenities. Many condominiums feature swimming pools, fitness centers, rooftop gardens, and concierge services. Prices for condominiums in Icon Siam vary depending on the size, location, and amenities offered.

Keller Henson offers comprehensive assistance throughout the condominium purchasing process in Icon Siam, from initial inquiry to registration at the Land Department, ensuring a seamless transaction experience. Keller Henson advises and helps buyers from property research to keys handover.

Purchase a House in Icon Siam

While less common than condominiums, houses are also available for purchase in the Icon Siam area. These properties typically cater to families and those seeking more space and privacy. Houses in Icon Siam can range from modern townhouses to luxurious villas with private pools and gardens. Prices for houses in Icon Siam tend to be higher than condominiums, reflecting the added space and exclusivity.

Foreign buyers interested in purchasing a house near Icon Siam must navigate foreign property ownership laws, which restrict direct land ownership. There are other available options including: 

• Leasehold agreements, allowing foreigners to lease land for up to 30 years with possible renewals. Learn more in this article on leasehold vs. freehold.
• Establishing a Thai limited company to indirectly own the property. This method requires Thai nationals to hold at least 51% of the company’s shares.

Keller Henson can guide clients through the legal and regulatory processes for leasehold agreements or company setups, ensuring informed decisions compliant with Thai law ensuring a smooth and secure investment process.

Types of Houses for Sale in Icon Siam

• Townhouses: These multi-level houses share walls with neighboring units and offer a balance of space and affordability.
• Detached Houses: Standalone houses provide maximum privacy and often come with larger plots of land.
• Luxury Villas: High-end houses with luxurious features, such as private pools, gardens, and spacious living areas. Thai-style houses in the Khlong San vicinity have been restored and are selling for an average of ฿120M.

Icon Siam Real Estate: Final Words

Icon Siam represents the pinnacle of luxury living in Bangkok. Its strategic location, world-class amenities, and ongoing development make it a highly desirable real estate destination. The integration of cultural heritage with contemporary luxury has transformed Bangkok’s real estate landscape, due in large part to Icon Siam. This area is primed for sustained growth, marked by a 217% increase in land value and enhanced connectivity from infrastructure projects such as the Purple and Blue MRT lines.

Whether you’re drawn to the allure of waterfront living, the convenience of a central location, or the prestige of a luxury address, Icon Siam offers a lifestyle that is second to none.