Ekkamai is certainly similar to Thonglor in many ways but is differentiated from its neighbor by its unique living atmosphere. Still featuring large trees, the area is less commercial than Thonglor and exudes a more peaceful and serene residential vibe.

1. WELCOME TO
EKKAMAI
Analysis by
Eakarat Pimthai

2. SCOPE OF ANALYSIS
 Potential Dimension > Office Building / Mixed-use, Commercial Area, Infrastructure, Public Transit
 Investment Dimension > Land Price, Demand Trend, Leasing / Yield, Resale / Capital Gain

3. The trend of community growth in Ekkamai comes from the ease of transportation.
Location Overview - Ekkamai
1. Transportation systems allow Ekkamai to be a convenient place to live
Ekkamai has Connections with other routes in the area. It is possible to
connect to sub-streets while traveling by car within Ekkamai, including the main
street (which the BTS runs through) Sukhumvit.
2. Ease of traveling from office building areas in Sukhumvit to Bangna
Office building areas are often located in the CBD especially in Sukhumvit.
Therefore, condominiums are built from the beginning of Sukhumvit street to the
end of Sukhumvit street along the BTS stations. However, in the near future, there
will be more office buildings in Bangna. As a result, Ekkamai will be the center of
office building areas in the CBD and there will be more office buildings in Bangna.

4. Trend of Land prices in Ekkamai
Land Price Rises in Ekkamai ( MP-Zone 08 Soi Sukhumvit 63 )
End of Soi Ekkamai
( 500,000 Baht / Wa2 )
YoY  11.1%
Beginning of Soi Ekkamai
( 1,100,000 Baht / Wa2 )
YoY  10.0%
BTS – Ekkamai Station
( 1,200,000 Baht / Wa2 )
YoY  20.0%
Reference: Analysis of Land Prices in the BMR 2018, AREA and forecast by RPS
Remark: (1) Price per Square Wa
(2) CAGR (Compound Annual Growth Rate) is the average annual growth rate of investment
(3) CAGR of land prices in BMR = 4.10%
Reference: Land Price 2018, AREA
Remark: (1) Price per Square Wa
(2) YoY comparing year 2017 to 2016
850,000
850,000
300,000
900,000
900,000
350,000
950,000
950,000
400,000
1,000,000
1,000,000
450,000
1,200,000
1,100,000
500,000
1,300,000
1,200,000
550,000
BTS Ekkamai Station Begining of Ekkamai Rd. End of Ekkamai Rd.
2013 2014
2015 2016
2017 2018F

5. Land Prices 2010 – 2018f
Land price in Ekkamai (2010 – 2018)
Reference: Analysis of Land Prices in the BMR 2018, AREA and forecast(f) by RPS
Remark: (1) Price per Square Wah
(2) ) CAGR (Compound Annual Growth Rate) is the average annual growth rate of investment
(3) CAGR of land prices in BMR = 4.10%
(4) YoY comparing year 2017 to 2016
Sample Sites 2010 2011 2012 2013 2014 2015 2016 2017 2018(f)
CAGR
2013 to 2018
YoY
2016 - 2017
BTS Ekkamai Station 600,000 650,000 750,000 850,000 900,000 950,000 1,000,000 1,200,000 1,300,000 10.59% 20.00%
Beginning of Ekkamai St. 600,000 650,000 750,000 850,000 900,000 950,000 1,000,000 1,100,000 1,200,000 8.24% 10.00%
End of Ekkamai St. 250,000 260,000 280,000 300,000 350,000 400,000 450,000 500,000 550,000 16.67% 11.11%
Average land prices growth rate in
Ekkamai:
Reference AREA and forecast by RPS
6.9% 12.8% 11.3% 9.5% 8.5% 7.7% 13.7% 9.1% 9.96%
Average land prices increase in BMR:
Reference AREA 2018
4.4% 4.0% 3.7% 4.6% 3.5% 3.2% 4.0% 4.0% 5.3% 4.10%

6. Market Situation - Ekkamai
Market Overview in Ekkamai (2014 – 2017)7,066
4,577
4,495
4,243
4,369
3,971
3,611
3,687
6,182
3,625
3,971
3,774
4,008
2,996
2,873
3,241
87% 79% 88% 89% 92%
75% 80% 88%
-10%
10%
30%
50%
70%
90%
110%
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half
2014 2015 2016 2017
Total Supply Total Demand %Sold
Market overview in Ekkamai
Supply has gradually decreased and demand is getting higher in
Ekkamai because Ekkamai is close to Thonglor, yet the density of
residents is less and it is more private, making Ekkamai desirable.
Another reason that demand may have increased in Ekkamai may
have came from its large expat communities. Therefore, investors
may see potential to earn rental incomes in this area.
Total demand indicates the amount of rooms bought and total supply indicates the amount
of rooms that are offered to be sold from the past till the present. In addition, the
information presented only correlates to the stocks left during the survey period.
New Projects
There were only 4 new projects in the past 2 years. High
demand was observed and some of these projects were almost
sold out.
New demand indicates the amount of newly bought and supply indicates the sold units
during the survey period (only new launch projects).
Supply has decreased by an average of 10% per year
242
291
612
1489
373
91
291
612
733
298
-100
100
300
500
700
900
1100
1300
1500
1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half
2014 2015 2016 2017
New Supply New Demand
Sold 38%
Sold 100%
Sold 100%
Sold 49%
Sold 80%

7. Price Trend - Ekkamai
Project Direction New condominium prices rose following the continual
growing land prices.
In the second half of 2017, the average condominium
price in Ekkamai is 141,914 THB/Sq.m. Overall prices in Ekkamai
during the past 4 years has risen up by 31%. When taking a closer
look at new condominiums, the selling price was around 172,624
THB/Sq.m. representing an increase of 40% during the past 4
years.
Aforementioned information indicated that prices can rise by 8%
per year. Therefore, new projects launched tend to be in the higher-
end segment and have higher selling prices aligning to land prices.
107,755 109,796
116,208
124,468 129,206
142,798
135,335
141,914
-
20,000
40,000
60,000
80,000
00,000
20,000
40,000
60,000
1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half 1st Half 2nd Half
2014 2015 2016 2017
Avg.Price (B./Sq.m.)
122,919
164,094
104,667
142,925 172,624
The ACE Ekamai
M Thonglor
The Line
SKV 71
Life
SKV 48
C Ekkamai
RHYTHM Ekkamai
The Niche Mono
Siamese
Exclusive 42
New Project Average Price (B./Sq.m.)
Selling prices of new condominium projects in 2018
started at 175,000 – 180,000 THB/Sq.m. which is
higher than the previous year (around 3%), but
it is still lower than the rising land prices.

8. HOT Segment - Ekkamai
Trend of Price Levels
Categorizations of Prices D - Segment : Less than 50,000 Bath / m2 D Segment : 50,000 – 69,999 Bath / m2 C Segment : 70,000 – 99,999 Bath / m2 C+ Segment : 100,000 – 129,999 Bath / m2
B Segment : 130,000 – 159,999 Bath / m2 B+ Segment : 160,000 – 199,999 Bath / m2 A Segment : 200,000 – 299,999 Bath / m2 A+ Segment : 300,000 – 399,999 Bath / m2 S Segment : More than 399,999 Bath / m2
471
832
495
52
410
16
468
419
35
182
26
395
191
20
10%
44%
91%
33%53%
0% 16%
73%
43%
78%
31%
23%
58%
75%
-1
-0.5
0
0.5
1
0
500
1000
1500
2000
D- D C C+ B B+ A A+ S
Supply 2H2016 Supply 1H2017 Supply 2H2017
%Sold 2H2016 %Sold 1H2017 %Sold 2H2017
3 1
2.5
11.8
Units / Month
0.7
Units / Month
5.1
Units / Month
6.2
Units / Month
2.5
Units / Month
2
Project
2
Project
3
Project
3
Project
1
Project
Absorption Rate
No. of Project
Market Analysis by Segment Time to GO
ระยะเวลาที่คาดว่าจะขายหมด
1.7
13.5
19.8
4.3
2.0
D-
D
C
C+
B
B+
A
A+
S
= Recommended SegmentAverage = 7.3
Month
Month
Month
Month
Month
“The price levels in the past have been around Segment B to
B+. Segment C / B+ / A are the price levels that RPS
recommends”

9. Re-sale and Leasing: Ekkamai
Rental returns, capital gains, and the average price of second hand homes for Segment B
Within Soi Ekkamai
Capital Gain
= 4.66% per year
Rental Yield
= 5.8% per year
AVG Rent Price
= 645.85 Baht / m2 /month
The beginning of Soi Ekkamai
Capital Gain
= 3.0% per year
Rental Yield
= 5.7% per year
AVG Rent Price
= 740.21 Baht / m2 / month
Reference: PLUS PROPERTY – closed deal & HIPFLAT – asking price
Estimate by Research and Plus Strategic Development ( RPS )