43M USD! “Porsche Design Tower Bangkok” Sets a New Record for Thailand’s Ultra-Luxury Condo Market

A new condominium is set to redefine the highest price level ever seen in Thailand’s residential market. Its name is Porsche Design Tower Bangkok. Below is an overview of this remarkable project.

Until now, the condominium widely regarded as having the highest price per square metre in Thailand was 98 Wireless, a Sansiri development located on Wireless Road.

That project offers parking for 174 cars, which translates to approximately 790% of the total number of units, or about eight parking spaces per residence.

Even for an ultra-luxury project, providing around eight parking spaces per unit feels somewhat excessive.

The average price at 98 Wireless is said to be around 550,000 baht per square metre, which is roughly comparable to the price of newly built luxury condominiums in central Tokyo.

Some VIP resale units at 98 Wireless have reportedly been listed at close to 1 million baht per square metre. However, Porsche Design Tower Bangkok is entering the market with a new launch price of 1 million baht per square metre.

This means Thailand will see the development of its first condominium project with a seven-digit baht price per square metre from launch.

As the name suggests, this is a condominium designed by Porsche Design. The brand has previously developed office and hotel mixed-use projects in Stuttgart, as well as a 60-storey high-rise condominium in Miami. This Bangkok project will mark the first Porsche Design residential development in Asia.

Property overview

Project	Porsche Design Tower Bangkok
Address	11, 29 Sukhumvit 38 Alley, Phra Khanong, Khlong Toei, Bangkok 10110
Station	BTS Thonglo　3mins
Built year	2028
Plan	525sqm～1135sqm
Price	525,000,000Baht～1,400,000,000Baht About 16M USD～43M USD
price/sqm	About 1,000,000Baht/sqm
Common fee/Sinking Fund fee	–
Developer	Porsche Design and Ananda Development
Total floor,Total unit	Basement４、21floors　22units

 

Place

The project is located on Sukhumvit Soi 38, only about a 3-minute walk from Thong Lo BTS Station.

I still remember that, before COVID, around 2018, the area near the entrance of Sukhumvit Soi 38 was lined with many street food stalls. Those were cleared out all at once, and since then, two or three high-end residential developments have been built nearby.

Directly opposite this project, and also along the road connecting Soi 38 and Soi 36, there is a large detached property surrounded by high walls and surveillance cameras, almost resembling an embassy. It is difficult to tell whether it is a private residence or something else.

Around 2017, the proposed BTS Grey Line became a topic of discussion. The initial plan was for the line to run along Thong Lo Road, pass through Sukhumvit Soi 36 or 38, and then connect to Rama IV Road. However, the section that was supposed to pass through Soi 36 and 38 was later suspended. After that, there were rumours that the route might instead turn toward Rama IV from Phra Khanong Station, but there has been no meaningful progress since.

I cannot confirm this for certain, but I recall hearing that the plan to run through Soi 36 and 38 was abandoned due to opposition from local landowners. It may be that some very influential people in Thailand own land in Soi 36 and Soi 38.

Exterior

Porsche Design Tower Bangkok Homepage

Although the building is 21 storeys tall, which does not make it a typical super high-rise condominium, it has a solid and modern glass façade design. The project will also feature private pools and duplex residences.

Because it is designed by Porsche, special attention has naturally been given not only to the residences themselves, but also to the cars owned by residents. A central ramp is incorporated into the building, and the garage spaces are expected to receive the same ultimate level of design and finish as the residences.

Price

As mentioned in the project overview, prices range from 525 million baht to 1.4 billion baht, or approximately USD 16 million to USD 43 million. These are extraordinary numbers.

Even a condominium priced at 25 million baht would already be considered luxury property in Thailand.

There are resale units in ultra-luxury projects such as 98 Wireless and The Ritz-Carlton Residences that may be priced at over 100 million baht, but I believe that condominiums priced at 500 million baht or over 1 billion baht are unlikely to appear again in Thailand over the next decade, apart from Porsche Design Tower Bangkok.

In that sense, Porsche Design Tower Bangkok is a historic project for Thailand’s condominium market.