Park Garden guide blooms earlier: Kunstkamera Estate and AISL contribute to the acceleration of luxurious life.

In response to the huge demand, developer Koon Estate and Asia International School Limited (AISL), which manages the Harrow International schools in Asia, have decided to accelerate the second phase of their luxurious residential project, Hyde Park Garden.

Executive Director of Koon Estate, Nuttavat Kuvijitsuwan, has announced that the planning for the new phase has started earlier than initially planned, inspired by the impressive sales of the first phase. "In six months since our launch in March2023, we have sold32 units, which is50% of the first phase. We expect the remaining50% to be sold by the end of the year."."

Nuttawat explained that most home buyers are parents who have children attending Harrow International School. These parents see the houses as optimal secondary homes because of the convenient location near the school. New families seeking to enroll their newborn children in school and Thais who have returned from abroad and plan to start families in Thailand are the main buyers of these properties as primary residences. "About 20% of these buyers are pure investors intending to rent out units to parents who have children in school and live far away. These houses can fetch monthly rents of 120,000 to 150,000 baht."

Hyde Park Garden, a 6.5 billion baht project of luxury detached single-storey homes, will occupy a 52-rai plot in close proximity to Harrow International School Bangkok in Don Muang district. Both the plot and the school are owned by AISL.

Nuttawat disclosed that the new phase will be located on the remaining land next to the first phase. Prices for the second phase will be 5-10% higher than the first phase due to increased construction costs.

Charnwit Pasuwat, head of design development at real estate consultancy CBRE Thailand, said Bangkok's northern zone, particularly the Don Muang area, has potential due to its developed infrastructure, transportation links and proximity to the airport. "Taking these factors into account, assessed land prices in the area rose 25% to 150,000 baht per square wa (one wa equals 2 meters) in the latest assessment cycle for 2023-2026, up from 120,000 baht in the previous cycle. At the same time, the average increase in Bangkok was only 2.8%."

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