Phra Ram 9 Real Estate Overview

The Phra Ram 9 area also known as Rama 9 or Rama IX in Bangkok has seen a significant transformation from an industrial zone to a thriving business and residential district. Key market trends include a 33-66% price appreciation for condominiums between the early 2010s and 2023, and a steady increase in demand, particularly for condominiums.

Several mega-projects have been launched in the area, including Grand Rama IX, The Super Tower, and Makkasan Complex. Infrastructure development, such as the MRT Orange Line extension, and commercial growth, with the relocation of the Stock Exchange of Thailand, have further boosted the area’s appeal.

The COVID-19 pandemic caused a temporary slowdown, but the rebound in Thailand’s tourism sector is expected to increase demand from foreign buyers. The rental market has seen fluctuations, with a 41% decrease in rental inquiries in the first half of 2021.

The market is expected to stabilize in 2025, with property transfers potentially growing by 1.2%-4.6%. Ongoing infrastructure development and the area’s growing status as a business hub are likely to continue driving demand in Rama 9.

1. Phra Ram 9 Real Estate: Strategic Location

The strategic location of Phra Ram 9 is one of its major attractions. Its key features include:

• MRT Connectivity: The area is well-connected by the MRT Blue Line, with Phra Ram 9 station providing easy access to other parts of Bangkok.
• Accessibility: Rama 9 Road, a major thoroughfare, connects the area to other key districts in Bangkok, ensuring convenient travel.
• Proximity to Business Districts: Rama 9 is located close to major business districts, making it an ideal location for professionals and businesses.
• Shopping and Entertainment: The area boasts several shopping malls, restaurants, and entertainment venues, providing residents with a wide range of options.

2. Phra Ram 9 Real Estate: Affordable

While property prices in Phra Ram 9 have been increasing due to its popularity, they are still relatively affordable compared to prime areas like Chidlom and Ploenchit. This makes Rama 9 an attractive option for those seeking a balance between affordability and a prime location. The price of condominiums in Phra Ram 9 starts at 2 million THB and can go up to 20 million THB. The average price for a studio apartment is 4.3M THB. One-bedroom properties cost around 6M THB on average, and two-bedroom units are about 12M THB.

3. Phra Ram 9: Mega Projects

Rama 9 has witnessed the development of several mega-projects that have contributed to its growth and appeal:

• The Super Tower: A mixed-use skyscraper that will become a new landmark in Bangkok.
• G Land Tower: A high-rise office building catering to businesses.
• Central Plaza Grand Rama 9: A large mixed used development shopping mall offering a wide range of retail and entertainment options.
• Makkasan Complex: A potential 300-rai development including offices, hotels, retail space, a conference center, and condominiums.
• Singha Complex: A mixed-use project with a Grade A office tower, retail shops, and a luxury condominium
• MRT Orange Line Extension: A 21 km connection linking MRT Thailand Cultural Centre to Minburi.

These projects have further enhanced the area’s infrastructure and attracted more businesses and residents to Rama 9.

4. Phra Ram 9: A Commercial Hub

Rama 9 has emerged as a prominent commercial hub in Bangkok:

• Corporate Offices: The area houses numerous corporate offices and multinational companies like True Digital Park, hosting tech giants like Google, Amazon, and Microsoft
• Business Centers: Rama 9 boasts several business centers and co-working spaces, catering to entrepreneurs and startups. The Stock Exchange of Thailand is headquartered in the area

• Retail and Hospitality: The presence of shopping malls, hotels, and restaurants contributes to a thriving commercial environment.

5. Phra Ram 9: International Schools

Phra Ram 9 provides access to several esteemed international schools, making it a practical choice for families. The Singapore International School of Bangkok (SISB), located a short distance away, offers a curriculum that emphasizes multilingual education. KIS International School, known for its IB (International Baccalaureate) programs, is also conveniently reachable from Rama 9, providing world-class education from primary to high school levels. Additionally, the area includes early learning centers such as The Regent’s International School Bangkok, which provides a strong foundation for younger students. These schools ensure that families in Rama 9 benefit from high-quality education nearby, complementing the area’s urban conveniences and family-friendly facilities.

Buy a Property in Phra Ram 9

Phra Ram 9 offers diverse property options for buyers, including high rise and low rise condominiums, houses, and commercial spaces. Foreign buyers can purchase condominium units under certain conditions, while house purchases may require alternative arrangements due to foreign ownership restrictions.

With Keller Henson, you’ll find the property in Phra Ram 9 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 Phra Ram 9 safely and smoothly. For more information, consult our guide to buying a property in Thailand.  

Purchase a Condominium in Phra Ram 9

Condominiums are a popular choice in Phra Ram 9, offering modern living spaces and convenient access to amenities. Prices vary depending on the size, location, and developer.

Condominiums in Phra Ram 9 cater to various preferences and budgets:

• Affordable options starting from 2 million THB
• Luxury developments up to 20 million THB
• Modern amenities such as swimming pools, gyms, and co-working spaces

Financing options for purchasing a condo in Phra Ram 9 may be available to foreign buyers. Developers sometimes provide vendor financing, enabling easier payment terms.

Keller Henson offers comprehensive assistance throughout the condominium purchasing process in Phra Ram 9, from initial inquiry to registration at the Land Department, ensuring a seamless transaction experience. Keller Henson, specializing in the Phra Ram 9 condominium market, assists buyers by offering guidance and customized services.

Purchase a House in Phra Ram 9

Houses in Phra Ram 9 offer more space and privacy, but are less common than condominiums. Foreign buyers may need to explore options like leasehold agreements or company setups to purchase a house.

Types of Houses for Sale in Phra Ram 9

• Detached Houses: These standalone homes offer maximum privacy and often come with gardens. Prices typically start around 8-10 million THB.
• Semi-Detached Houses: More affordable than fully detached homes, these properties share one wall with a neighboring house. Prices generally start from 5-7 million THB.
• Townhouses: Compact and budget-friendly options ideal for small families or young professionals. Townhouses in the area have starting prices around 3-5 million THB.
• Luxury Villas: High-end homes often located in gated communities, featuring modern designs and exclusive amenities. Prices for luxury villas in this area can exceed 20 million THB.

Foreign buyers interested in purchasing a house in Phra Ram 9 must navigate foreign property ownership laws, which restrict direct land ownership. However, other options include:

• 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.

Phra Ram 9 Real Estate Final Words

Phra Ram 9’s real estate market offers a unique combination of strategic location, affordability, and growth potential. Its proximity to key business districts and excellent connectivity make it an attractive choice for both local and international investors looking to capitalize on Bangkok’s evolving property landscape. As the area continues to develop with mega projects and improved infrastructure, Phra Ram 9 is expected to play a significant role in shaping Bangkok’s urban and commercial future. Contact Keller Henson today to explore available properties in Phra Ram 9 for sale.