Relationship between Rental Price and Characteristics of Apartments in Bangkok

Abstract

Increasing number of rental residences based on demands of occupants affected to larger expansion of apartment that was one type of rental residences. However, differences on locations and physical characteristics had the effect on rental fees of apartments. This research aims to study on physical characteristics, locations, and rental fees of apartments in Bangkok by collecting data from 471 websites related to rental apartments in Bangkok during March-June 2018 as well as to study on the relationship between rental fees and locations of apartments by using descriptive statistics and inferential statistics
The results revealed that: 1) The number of apartments in inner city, urban fringe, and suburb of Bangkok was calculated to be 40%, 47%, and 13%, respectively. There were 2 types of locations including: (1) apartment crowdedly located along transportation routes (2) apartments crowdedly located near public facilities,Public facility located nearest to apartments in inner city and urban fringe of Bangkok was workplaces and public facility located nearest to apartments in suburb of Bangkok was shopping area; 2) The rental fees of most apartments in Bangkok were in moderate level (4,351 – 7,050 baht per month) and most were small size (12-27 square meters) with similar physical characteristics; 3) Facilities that were mostly found in apartment rooms were furniture, air-conditioners, and wireless internet. Most facilities found outside apartment rooms were security; 5) Factors on physical characteristics had the relationship with rental fees in high level. In addition, it was also found that the location, public transport, education, year of service opening, size of accommodation, and facilities could be used for predicting rental fees of apartments statistically significant.
The results indicated characteristics of apartments in Bangkok as well as factors on pricing were beneficial for designing apartments to be consistent with rental fees. Moreover, the results also reflected current characteristics of rental real estate market, especially its supply, in Bangkok.