Factors Affecting the Salable Area of Residential Condominium Project
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Abstract
The development of residential condominium projects is becoming more popular in Bangkok and vicinity. This is due to the development of the electric train network resulting in more convenience of the transportation in those areas and the amendment of town planning law which essentially supports the urban expansion. In addition, the change in living behavior from houses in the suburb area to condominiums in metropolitan area with the purpose of saving transportation time and travel expense is also considered as another important reason impacting this trend. As mentioned previously, those reasons considerably affect to the larger investment of area developments. Accordingly, most developers are determined to indicate the number of usable area contributing to the most suitable salable area. This research aims to study various factors related to the salable area in order to analyze mathematical ratios of necessary information so as to determine the project layout and the correlation between those factors and salable area. This research has collected data from condominium projects (high-rise buildings) in Bangkok and vicinity and interviewing experts in many perspectives with regard to the design of each area. The result shows that there are 11 factors significantly related to the salable area, namely Construction Floor Area (CFA), Ground Floor Area (GFA), building height, the number of floors, the number of rooms, average room area, indoor parking area, common area, green area, the number of parking slots and the number of elevators. The methodology of this research is to analyze the critical ratios and correlation between all related factors and the salable area by way of multiple regression technique. It is clearly found that the number of salable area is significantly proportional to the number of parking slots, the number of rooms and the number of floors, respectively. Finally, the results of the research suggest how to apply the project information as a guideline for future real estate project development.
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