Functional Space and Selling Price of One-Bedroom Condo Projects in Bangkok Metropolitan Area

Abstract

The objective of this research is to explore the relationship between functional space and selling price of 1-bed room condo projects. The sampling is 86 projects launched in 2014 within the Bangkok Metropolitan Area. Data collecting was conducted through the websites of real estate companies registered at the Stock Exchange of Thailand. The study found that most selling units are priced at 60,000-86,000 baht/sq.m. and 113,000-141,000 baht/sq.m. It was also found that there are 3 groups of unit sizes based on projects launched as follows; 22-35 sq.m. (48%), 36-49 sq.m. (44%) and 50-63 sq.m. (8%). For the utility space proportion, the study reveals that the bedroom space is ranked first (32%), followed by living area (25%), pantry (15%), WC (13%), dining area (8%) and terrace (7%). The study also showed that the 6 functional spaces are irrelevant to selling price. Only 14.9% of selling price depended on the 6 functional spaces but the remaining depend on other factors. According to the study, it can be inferred that the proportion of functional space reflect the characteristics of supply and demand of 1-bedroom condo in 2014. The study results will be a guideline for design and marketing planning to meet the future target groups.