Major Development unveils Steady Growth in Gross Rental Yield of Pet-Friendly Condominiums

Khun Petrada Poolvoralaks, CEO of Major Development PCL, began: “Major Development is committed to adapt to the way people are living in their homes under the axiom of 'CRAFTING LIFESCAPE TO EXCELLENCE.’ We meet each Lifescape demand in every dimension through introduction of property projects created to show our excellence in 'Craft & Quality.’ There are about 43 percent of our customers that purchased our residences for their own use while 37 percent are investors who make their purchases for resale or for rental. According to our study on gross rental yield in 2023-2024, we discovered that demands for pet-friendly condominiums are on the rise especially in Ramkhamhaeng, Ladprao, and Pattanakarn as these three districts have highest potential growth in city lifestyles, completed in facilities—including shopping mall and public transit systems, as well as the reopening of schools and offices which can lead to an increase in overall demands from students and office people who labelled themselves as 'Pet Parents.’”

Three High Potential Districts for Pet-Friendly Condominiums

• Ramkhamhaeng: With high chances to assume the reputation of a 'Creative Hub’ in no time, Ramkhamhaeng is full of lifestyle facilities to suit all needs of students and office people including shopping malls, department stores, lifestyle malls, large scale flea markets, and restaurants. In the near future, Ramkhamhaeng will be an interchange between MRT Orange Line, Yellow Line, and Brown Line and these new mass transit lines will raise demands for living projects and workforce concentration. Ramkhamhaeng has an average increase of gross rental yield from 4.6 to 6 percent. METRIS Rama 9 – Ramkhamhaeng are a desired condominium of many renters with gross rental yield increase for 1-Bedroom units from 4.27 to 8.15 percent with average monthly rental fee from 14,500 to 18,000 baht while a gross rental yield increase range for 2-Bedroom units is from 3.87 to 6.66 percent with average monthly rental fee from 20,000 to 23,000 baht.
• Ladprao: Bangkok’s northbound extension of business district like Ladprao is widely known as a New CBD full of skyscrapers, government complexes, schools, universities, and well-known shopping malls. Ladprao is an interchange between BTS Skytrain Green Line, MRT Blue Line, and MRT Yellow Line. With these district transformations, Ladprao has an average increase of gross rental yield from 4.7 to 5 percent. Major Development has various projects in the district. Located close to Ladprao Intersection, METRIS Ladprao offers a perfect blend of modernist and retro design coupled with full-fledge facilities for residents and pets. Gross rental yield increase for 1-Bedroom units is from 4.52 to 5.06 percent with average monthly rental fee from 15,000 to 18,000 baht while a gross rental yield increase range for 2-Bedroom units which are preferred choice of pet parents have a gross rental yield from 4.81 to 5.96 percent with average monthly rental fee from 26,000 to 28,000 baht. These rates are in accordance with average monthly rental yield of 2-Bedroom units at M Ladprao and M Jatujak at 7.25 percent or 44,000 baht and 6.56 percent or 37,000 baht respectively.
• Pattanakarn: Centrally located in Bangkok, Pattanakarn is a high potential district for living and investing. Its location—with mass transit lines like MRT Yellow Line, MRT Pink Line, and ARL—means residents can travel around quickly and they can reach Suvarnabhumi Airport with ease. Pattanakarn has a wide array of choices in shopping malls and international schools. Gross rental yield increase in Pattanakarn is from 5 to 6 percent and demands for pet-friendly condominiums means the range of gross rental yield increase for 1-Bedroom units at METRIS Pattanakarn – Ekkamai is between 4.40 to 5.44 percent or 12,000 to 15,000 baht per month while the range for 2-Bedroom units is between 3.77 to 5.99 percent or 22,000 to 30,000 baht per month.

Khun Petrada added: “Pet-friendly residences are no longer just a trend as many believe their pets are true members of their families. Growth of pet-friendly residences especially condominiums is steadily increasing and renters with pets prefer to rent condominiums that are pet-friendly in policy. Not only Ramkhamhaeng, Ladprao, and Pattanakarn, but demands for long-term rental of pet-friendly condominiums in downtown districts like Silom, Sathorn, Phayathai, and Victory Monument are also on the rise and Gross Rental Yield in these areas are higher than market average.”

For customers who are looking for vertical residences that are pet-friendly, Major Development is pleased to present privileges for two popular projects namely METRIS Pattanakarn – Ekkamai, a ready to move condominium with Mid-Century Modern—with starting price from 3.29 million baht, and an upcoming condominium befitted with facilities for residents and pets like METRIS District Ladprao—scheduled to complete in 2025 with a starting price from 3.69 million baht. Customers can register for privileges at https://bit.ly/3SDsAs6 or at 02-116-1111.

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