What do you need to know about Lat Phrao?
Lat Phrao is one of the fifty districts on Thailand and is situated in the central region of the city. The neighbouring districts surrounding Lat Phrao from the north in the clockwise direction are Lat Phrao, Bueng Kum, Bang Kapi, Wang Thonglang, and Chatuchak. Formerly, Lat Phrao was a tambon of Bang Kapi District, in what was then Phra Nakhon Province, before the unification of Thonburi and Phra Nakhon into the single administrative area of Krung Thep (Bangkok). Later it was a sub-district (tambon) of the Bang Kapi District (amphoe), after naming conventions were changed for administrative districts of Bangkok. On 4 September 1989, Lat Phrao was split off from Bang Kapi along with Bueng Kum as new districts. In 1997, the boundaries of Lat Phrao District were modified to balance the size and population of Bangkok's districts. The portion of Chorake Bua sub-district north of Khok Khram and Ta Reng canals was reassigned to Lat Phrao District, and portions of the Lat Phrao sub-district were added to Wang Thonglang District. On 24 January 2002, portions of Wang Thonglang District were reassigned to Lat Phrao Sub-district. The word Lat Phrao can mean 'slope of coconut'. The district seal features a coconut putting forth two fresh leaves.
The Lat Phrao district is crossed by the Bangkok MRT through the Lat Phrao station. Lat Phrao MRT stations Blue Line located under Ratchadaphisek Road, The station is nearby Phahon Yothin it can be transferred to MRT Yellow Line at Ratchada–Lat Phrao station in the future.
How is the lifestyle in Lat Phrao?
The people in Lat Phrao are very welcoming to tourist and as well to new residents of the district who have chosen to settle down here. The lifestyle of this district is mostly on the expensive side, but the place gives you back your money’s worth by offering never ending excitement and thrill. The bare minimum that you would have to spend in order to live in Lat Phrao, towards the uneventful parts of the district is about 25,000 Baht and that is covering your rent and daily expenses.
How is the Lat Phrao real estate market?
If you are looking to rent a property in this district, you can find condos, townhouses and single houses at your disposal. The price for a one-bedroom studio condo for rent located in the crowded areas is around 10,000 Baht for rent. Condos for rent with multiple bedrooms, as much as three, can be found in the same vicinity with the rent prices as much as 65,000 Baht. Townhouses for rent are also available and share the same price range with condos for rent. They range from 10,000 to 20,000 Baht for rent. If you prefer to live in a detached house or single house for rent located in a prime location of the district, it would cost you around 45,000 Baht just for the rent alone! The monthly rent of properties has been seen to go down if move a little further from the prime locations. You can find a studio condo for rent at 8,000 Baht per month. Single houses for rent can also be found and would cost around 18,000 to 45,000 Baht for rent and townhouses for rent can be found at 12,000 to 28,000 Baht for rent.
What is the most popular type of property on sale in Lat Phrao and why?
The most popular property in Lat Phrao according to statistics are villas. That is because the villas in this district provide much more return on investments than other properties while at the same time giving out a sense of extended freedom. A second-hand single house for sale can be easily found in the district and the prices in the main area range from about 3,000,000 to 52,000,000 Baht for sale, is directly proportional to the size of your property, location and number of bedrooms. You can get a studio condo for sale from a reputed developer in the crowded places of the district at around 2M to 6.5M Baht for sale depending on the size, location and number of bedrooms. Townhouses for sale can also be the type of property you will be looking for-- it would cost you around 2,500,000 to 18,000,000 Baht for sale depending on the size, location and number of bedrooms in the same area. If you choose to settle down in a lavish duplex condo for sale, it would be a bit expensive with the cost going as much as 6,000,000 Baht just on the sale price. There are locations in the district where you can get cheap properties too. It’s just that that you would have to settle down at a location that is a bit farther from services such as hospitals and universities. You can find a studio condo for sale in these locations with sale prices as low as 800,000 Baht for sale. Finding lavish condos for sale in these parts of the district can be a bit tough, if there are any, their prices would drop to as much as 8,000,000 Baht for sale or more. Prices of townhouses for sale have also been seen to drop to as much as 6,000,000 Baht on the sale price. Single houses for sale can also be found at lower prices from the main area with the sale price ranging around 15,000,000 Baht for sale.
What are the main reasons for investing in Lat Phrao properties?
Apart from housing some of the best properties in the country, the district of Lat Phrao offers so much more to its residents and to the real estate investors as well, who are willing to invest in the market. The locals and retirees living here enjoy the happening and bustling lifestyle while getting access to great universities and other institutions for your family.
Land for Sale in Lat Phrao
Land for sale is also popular in this area as Land Price are relatively lower than main CBD are in Bangkok. Keep in mind that Land Price is relevant to the development around it so if you are considering searching for land for sale make sure you apprise the prospective land for sale price before purchasing it.
Its also important to do a proper due diligent of the Land Title deed to understand what are the Land Zone rights on the specific Land.