Siam Real Estate Overview

The Siam real estate market in Bangkok has seen significant growth and transformation in the past decade. Condominium prices range from THB 200,000 to THB 300,000 per square meter, making it relatively affordable compared to other prime CBD locations. The area has experienced commercial growth, with a surge in visitors to ONESIAM shopping malls, driving demand for retail and residential spaces. Infrastructure development, including the BTS Skytrain Siam station, has enhanced accessibility and contributed to Siam’s appeal. Despite a temporary slowdown due to the COVID-19 pandemic, Siam’s real estate market has remained resilient.

There has been a shift towards mixed-use developments, combining retail, residential, and office spaces, aligning with global trends. Siam has become increasingly popular among younger generations, attracted by its vibrant atmosphere, shopping options, and entertainment venues. The rental market offers appealing buy-to-let opportunities, with rental yields averaging between 4-6%.  In 2023, Chinese nationals were the largest foreign buyers of Thai property, accounting for nearly 46% of all condominium units purchased by foreigners. The area’s popularity extends beyond real estate, with the hashtag #LifeInThailand reaching 1 billion views on Chinese social media platform Xiaohongshu, while #ThaiProperty gained 35 million views. The ongoing development in Siam and surrounding areas is expected to drive real estate values upward, with the market anticipated to stabilize in 2025. Key facts about Siam’s real estate market:

1.Siam Real Estate: Strategic Location

Siam’s strategic location is one of its major attractions:

• Central Location: Siam is situated in the heart of Bangkok, providing easy access to major business districts, tourist attractions, and transportation hubs.
• BTS Skytrain: Siam BTS station is a major interchange station on the BTS Silom and Sukhumvit Lines, providing seamless connectivity across the city.
• Accessibility: The area is well-connected to major roads and expressways, ensuring convenient travel by car or public transport.
• Proximity to Amenities: Siam is surrounded by a plethora of shopping malls, restaurants, hotels, and entertainment venues, offering residents a vibrant and convenient lifestyle.

2. Siam Real Estate: Affordable

Siam is a prime area in Bangkok, and property prices reflect its desirable location and high demand. While more expensive than suburban areas, it offers competitive prices compared to other prime central areas. The average price per square meter for condominiums in Siam ranges from ฿200,000 to ฿300,000.

3. Siam: Mega Projects

Siam is home to several mega-projects that have transformed its landscape and attracted significant investment:

• Siam Paragon: A luxury shopping mall with high-end brands, restaurants, and entertainment options.
• Siam Center: A trendy shopping mall popular among young people, offering a mix of fashion, lifestyle, and dining experiences.
• Siam Discovery: A lifestyle shopping mall with a focus on design and innovation.
• MBK Center: A large shopping mall known for its wide variety of products and affordable prices.
• Siam Square One: A 7-storey contemporary lifestyle shopping mall located in the heart of Bangkok. Siam Square One is known for hosting events and activities that reflect the dynamic spirit of Bangkok.
• Siam Scape: A modern mixed-use complex designed to integrate retail, dining, and business facilities.

These mega-projects have contributed to Siam’s reputation as a major shopping and entertainment destination, attracting both local residents and tourists.

4. Siam: A Commercial Hub

Siam is a major commercial hub in Bangkok, with a mix of businesses and industries:

• Retail: The area is dominated by shopping malls, department stores, and retail outlets.
• Hospitality: Siam has a high concentration of luxury hotels such as Siam Kempinski Hotel which signifies the area’s appeal to high-spending tourists, translating to potentially strong and stable rental yields for serviced apartments or condo units.
• Offices: Several office buildings are located in Siam, housing businesses and organizations. . Coworking spaces like Discovery Habba provide a dynamic environment for entrepreneurs, fostering a young and vibrant community. 
• Education: Siam is home to educational institutions, including Chulalongkorn University.

5. Siam: International Schools

Siam, often regarded as the heart of Bangkok, is home to several esteemed international schools, making it an attractive location for families seeking quality education in a central area. Among these, Siam Singapore International School stands out for its innovative approach, offering a bilingual curriculum blending Singaporean and international standards. The school caters to children from nursery to primary levels, emphasizing academic excellence and holistic development. Additionally, the district’s proximity to Pathumwan and Ratchathewi ensures easy access to other top-tier schools like Raffles International College, known for its creative arts programs, and Chulalongkorn University Demonstration International School, which provides a rigorous academic environment for older students. Living in Siam places families near a variety of educational institutions while offering unparalleled convenience. 

The British Council is also located in Siam Square at Chulalongkorn Soi 64, Siam Square. The center is specifically authorized by UK Visas and Immigration to offer the UKVI exam. The British Council Siam Square serves as a key hub for those seeking British educational and cultural resources in central Bangkok.

Buy a Property in Siam

Condominiums are the most common type of property for sale in Siam, which is part of Bangkok’s Central Business District and is characterized by its urban, high-density environment. Depending on the property’s type, size, and location, prices in Siam typically range from 3,000,000 THB to over 30,000,000 THB. Other options include apartments and commercial spaces.

With Keller Henson, you’ll find the property in Siam you’re looking for, and our team will guide you from understanding Thai regulations in regard to foreign ownership conditions to buying a property in Siam safely and smoothly. For more information, consult our guide to buying a property in Thailand.  

Purchase a Condominium in Siam

Condominiums are a popular choice in Siam, offering modern living spaces and convenient access to amenities. Prices vary depending on the size, location, and developer. Siam offers a diverse range of condominiums catering to various preferences and budgets:

• Luxury Condominiums: High-end developments like Pyne by Sansiri offer upscale living experiences. Prices typically range from 200,000 to 300,000 THB per square meter. They feature premium amenities such as infinity pools, sky lounges, and concierge services
• Mid-Range Options: Prices range from 150,000 to 200,000 THB per square meter offering a balance of location and amenities
• Budget-Friendly Choices: Older developments or smaller units in the area, prices starting from around 100,000 THB per square meter. They come with fewer amenities but offer excellent location
• High-Rise Condominiums: Dominate the Siam skyline, offering city views and feature modern designs and extensive facilities
• Low-Rise Options: Less common in Siam but available in nearby areas that offer a more intimate living experience
• New Developments: Feature cutting-edge designs and smart home technologies
• Older Condominiums: Often offer larger unit sizes and established communities

Siam offers a range of amenities, including swimming pools, fitness centers, co-working spaces, 24-hour security, and parking facilities. Some luxury developments provide exclusive features, such as sky gardens or private cinemas. Unit types range from compact studios (around 21 sqm) to spacious 3-bedroom units (over 100 sqm), catering to singles, couples, and families. The Siam area’s condominium market primarily focuses on mid-range to luxury segments, reflecting its prime location in Bangkok’s central business and shopping district.

The Bangkok condominium market, especially in Siam, presents a lucrative investment opportunity due to high rental demand from Gen Z and millennials. Rental rates in central Bangkok range from 5,000 to over 15,000 baht per month, and Siam condominiums typically cost 200,000 to 300,000 THB per square meter. Foreigners can own up to 49% of a condominium project, but they must transfer funds from abroad and obtain a Foreign Exchange Transaction form. The luxury residential market in prime areas like Siam is expected to remain strong, with rental yields typically ranging between 4-6%. Investors should conduct due diligence, consider the foreign ownership quota, and comply with legal requirements.

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

Purchase a House in Siam

Houses are less common in Siam due to its urban and commercial nature. However, some older houses and town houses may be available for sale in the surrounding areas.

Foreign buyers interested in purchasing a house in 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 Siam

• Townhouses: These are typically multi-level houses with shared walls and are more affordable than detached houses.
• Detached Houses: These are stand-alone houses with more privacy and space, but they are also rarer and more expensive in Siam.

Siam Real Estate Final Words

Siam presents a compelling opportunity for real estate investment in Bangkok. Its strategic location, affordability compared to other prime areas, and ongoing mega-projects make it an attractive option for those seeking rental yields or capital appreciation. While the condominium market is thriving, houses are less common due to the area’s urban nature. Potential investors should carefully consider their budget, lifestyle preferences, and investment goals before purchasing a property in Siam. While property prices in Siam are among Bangkok’s highest, they remain competitive compared to other global cities’ prime areas. The ongoing development and Siam’s enduring popularity suggest that real estate investments in this area are likely to maintain their value and appeal in the long term.

As Bangkok’s real estate market evolves, Siam is expected to maintain its position as a crucial part of the city’s commercial and residential landscape, offering investors a blend of prestige, convenience, and potential returns.