Silom Real Estate Overview

The Silom and Bang Rak areas of Bangkok have seen changes in the real estate market. Land price growth slowed to 3% in Q3 2023 due to rising interest rates and household debt. However, new condo launches increased, with 418 units in Q4 2023, ranking 10th among locations. Sales value also rose, reaching 6.52 billion baht in Q4 2023, ranking fifth. Condo prices in the area range from 200,000 to 300,000 THB per square meter, making it relatively affordable. The area highly benefits from excellent connectivity, including the BTS Skytrain Sala Daeng station and MRT Si Lom station with approximately 60,000 passengers pass through the area via the BTS and MRT systems daily.

1. Silom Real Estate: Strategic Location

Silom’s strategic location offers excellent connectivity:

• BTS Skytrain: Sala Daeng station on the Silom Line
• MRT: Si Lom station, providing an interchange with the BTS
• Direct connection to Siam Square, taking about five minutes
• 15-25 minute commute to major business districts like Silom, Rama 1, Ploenchit, and Lumpini

Chao Phraya Express Boat: Sathorn Pier provides river transportation

2. Silom Real Estate: Affordable

While Silom is a prime area, it offers a range of property options:

• Condominium prices in the Silom-Sathorn area typically range from THB 200,000 to THB 300,000 per square meter
• This pricing makes Silom relatively affordable compared to some other prime CBD locations

3. Silom: Mega Projects

The Silom area has undergone a major transformation due to a number of large-scale projects that have altered the skyline and urban landscape.

• Dusit Central Park: A 46-billion-baht project on a 23-rai land plot at the corner of Silom-Rama 4 road. It is a mixed-use development with 39-floor Dusit Thani Bangkok Hotel , Central Park Offices, residential areas, Central Park Shopping Center, and rooftop park.
• Park Silom: A 39-storey high-end office and retail complex spanning over 6 rai with office and retail complex catering to high-purchasing power individuals.
• One Bangkok: While not directly in Silom, it will likely impact property values in the area.
• Lumpini Park: Green space and recreational facilities, highly valued amenity, with properties offering direct views of the park commanding premium prices

4. Silom: A Commercial Hub

Silom has established itself as a thriving commercial center in Bangkok, attracting a diverse range of businesses and professionals. Here are key aspects of Silom’s commercial landscape:

•  Multinational Corporations: Silom hosts numerous global companies, including:

• •  LSEG (London Stock Exchange Group): Their Bangkok office, located in the U Chu Liang Building on Silom Road, employs nearly 1,000 professionals in the Fintech industry.
• International banks and financial institutions have a strong presence in the area, contributing to Silom’s reputation as Bangkok’s “Wall Street”.
•  Jewelry Trade:
  •  The area is known for its jewelry businesses, with companies like Spokes Jewelry Services Limited operating in the vicinity. This US Marine Veteran-owned company provides full-service jewelry production experiences.
•  International Hub for Expats and Professionals:
  • Silom is a major employment center in Bangkok that attracts a diverse, international workforce. Its convenient location and concentration of global companies draw an average of 56,000 professionals each day.
• Diverse Business Landscape:
  •  Financial services: Banks, securities firms, and investment companies dominate the area.
  • Corporate offices: Many large national and multinational corporations have their headquarters or branches in Silom.
  • Diplomatic presence: Several embassies are located in or near Silom, adding to its international character.
  • Retail and hospitality: The area features a mix of traditional and modern retail outlets, from street markets to high-end shopping centers, as well as numerous hotels catering to business travelers.
• Technology and Innovation:
  • Silom and nearby areas are becoming hubs for tech companies and startups, with developments like True Digital Park attracting global tech giants such as Google, Amazon, and Microsoft.

This diverse commercial ecosystem makes Silom a key driver of Bangkok’s economy and a prime location for businesses seeking a prestigious address in Thailand’s capital.

5. Silom: International Schools

While specific international schools in Silom are not mentioned, nearby areas offer quality education options:

• St. Andrews International School Sathorn: Located in the central business district, offering British curriculum for students aged 2-11
• NIST International School: Located nearby, offering all three IB programmes for students aged 3-18

Buy a Property in Silom

Silom offers a diverse range of property options:

• Condominiums: Both high-rise and low-rise options are available, ranging from 1-bedroom to 3-bedroom units.
• Commercial buildings: Multi-storey buildings suitable for offices, retail spaces, or mixed-use developments.
• Shophouses: While not explicitly mentioned for Silom, shophouses are common in Bangkok’s central areas and likely available in Silom as well.
• Land plots: Some land is available for sale in the Silom area, suitable for development.
• Hotels: Although not specifically mentioned for Silom, there may be opportunities to acquire existing hotel properties or buildings suitable for conversion to hotels.
• Office spaces: Silom, being part of Bangkok’s Central Business District, likely has office properties available for sale.
• Retail spaces: Given Silom’s commercial nature, retail properties are likely available for purchase.

For foreign buyers, purchasing a freehold condominium is the most straightforward option. By law, foreigners can own up to 49% of the total unit area in a condominium building. 

Keller Henson will assist you in finding your desired property in Silom. Our team will provide guidance on Thai regulations concerning foreign ownership conditions, ensuring a secure and seamless property purchase in Silom. For more information, consult our guide to buying a property in Thailand.  

Purchase a Condominium in Silom

Silom’s condominium market has evolved significantly, with a growing trend towards luxury and ultra-luxury developments. The types of condominiums in Silom include:

• Mid-range condominiums: Previously the dominant trend, with prices ranging from THB 70,000 to 89,999 per square meter.
• High-end condominiums: Priced between THB 120,000 to 169,999 per square meter.
• Luxury condominiums: Ranging from THB 170,000 to 249,999 per square meter.
• Super-luxury condominiums: The emerging trend, with prices above THB 250,000 per square meter.

The shift towards ultra-luxury developments in Bangkok’s CBD is driven by scarcity of prime land, growing demand from high-net-worth individuals, and developers’ focus on exclusive and profitable projects. This trend is expected to continue, with new projects focusing on larger units and high-end amenities to cater to the luxury market.

Financing options for purchasing a condo in Silom 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 Silom, from initial inquiry to registration at the Land Department, ensuring a seamless transaction experience. Keller Henson, specializing in the Silom condominium market, assists buyers by offering guidance and customized services.

Purchase a House in Silom

While Silom is primarily known for its condominium and commercial real estate market, there may be limited options for houses in the surrounding areas. Most available properties for sale in Silom are condominiums, reflecting its urban, high-density nature as part of Bangkok’s Central Business District.  

Types of Houses for Sale in Silom

• Detached Houses: These standalone homes offer privacy and often come with gardens. For example, there’s a 4-bedroom, 3-bathroom detached house listed for sale in Sathorn (near Silom) for ฿25M with a total area of 400 square meters.
• Luxury Villas: High-end homes featuring up to 5 bedrooms, with built-up areas starting from 500 square meters or more, are available in exclusive developments where prices can reach as high as ฿80M.
• Townhouses: While not explicitly mentioned for Silom, townhouses are common in Bangkok’s central areas and likely available in or near Silom as well.

Foreign buyers interested in purchasing a house in Silom must navigate foreign property ownership laws, which restrict direct land ownership. However, 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.

Silom Real Estate Final Words

The Silom real estate market presents a unique blend of strategic location, comparative affordability to other Central Business District areas, and continuous development. Its status as a key economic center, coupled with excellent connectivity and diverse property options, makes it an attractive option for both domestic and international investors. As Bangkok’s real estate market continues to evolve, Silom is poised to maintain its position as a crucial component of the city’s commercial and residential landscape. Contact Keller Henson today to explore available properties in Silom for sale.