Pros & Cons of Investing in High-Rise vs. Low-Rise Condominium Projects
Whenever someone wants to buy a condo in the city, he or she may need to choose between a high-rise and a low-rise building. Some people buy for their living. Others buy for investment. High-rise condominiums offer a broad array of living options than their low-rise counterpart. On the other hand, purchasing in a low-rise development not only can be cheaper in the same neighborhood, but a more peaceful and private life is possible.
Now, which one to choose? Before any decision comes to light, there are a few considerations to make, such as buying based on price, brand, design, and promotions offered (if any).
In Bangkok, one advantage of high-rise condominiums is their location. Usually, they are situated facing the main roads in lively neighborhoods connected by BTS or MRT train stations.
Because land prices are very high on main roads, it is necessary to build tall and generate a lot of units. For this reason, usually, the prices are higher compared to the low-rise condominiums of the same quality in nearby locations. This type of developments can also be available on the side-streets of main roads, or “Soi” in Thai, more than 10-meter width.
High-rise condominiums are synonymous of great views like those facing Chao Phraya River and Bangkok skyline. Since lots of people are staying in these units, there is a wider range of common facilities like meeting rooms, co-working spaces, fitness rooms with vast amenities, bigger swimming pools, social clubs, theater rooms, sometimes even golf simulators, just to name the most common ones.
In Thailand, low-rise condominiums can’t exceed 23 meters in height, which is satisfactory to accommodate a maximum of 8 stories. Deducting 20-30 centimeters between the floors, each one has a maximum of 2.6 meters in clearing height.
For this reason, when it comes to design features there are more options to play within high-rise developments since units in large buildings are synonymous of the increment in height. This is one of the main factors that costumers consider before purchasing. Higher ceilings also imply more luxury because the units seem bigger and more breathable. Overall, the value of appreciation is better in high-rise condominiums.
Noise and dust are some of the disadvantages of a high-rise condominium because buyers are more exposed to pollution due to its location facing main roads or busy neighborhoods. Privacy is also not expected to the extent of a low-rise building, which accommodates fewer people.
More selling space conveys to a broad variety of options, from studios sized 20 meters square to penthouses above at least 80 meters square. A variety of prices is a clear indicator of global people diversity as neighbors. Facilities may include public areas, such as restaurants and convenience stores, among other services granting access to persons from outside.
Low-rise developments are usually located on the side-streets of main roads less than 10-meter width, in areas not so crowded than that of high-rise developments. Some are also on the side-streets of main roads prevailing with stalls and small familiar businesses like restaurants and shops, while others are on busy neighborhoods.
Property developers engage in a precise segment of the market due to the limitation of construction area, therefore, neighbors are about the same social background. Furthermore, building a community is easier because the option of socialization is higher.
Depending on location, rental yields can be higher because the units are cheaper than in high-rise condominiums. This happens, especially, if low-rise developments are nearby main roads, thus having better visibility.
In case of emergencies or natural disasters, it is much easier for anyone to reach a safe zone in low-rise buildings, which is particularly effective in hospital-related issues or earthquakes.
Limited amenities like small fitness rooms and modest or non-existing swimming pools. Usually, there is no greenery since the space is also limited. ATM machines are seldom found within the property.
Due to low-rise, the residents mostly don’t enjoy much of the city views. They are able to interact only with the intra-building and enter-building spaces or their surrounding neighborhood. A good architecture design helps to ease this disadvantage. Furthermore, there is also less space for storage in each condo.
High-rise condos can be found along the BTS Sukhumvit Line, while in Rama 9 a good blend of mixed-use condominiums is available. Ratchada and Ladphrao are two well-known neighborhoods along MRT’s Blue Line with stylish high-rise developments, as well as in Ratchayothin (to be connected with BTS).
Condos in low-rise buildings are also located in Sukhumvit, sometimes in a soi 10-meter wider. Others are built throughout the BTS Purple Line, between Tao Poon and Talad Bang Yai stations, among many other places.