The Supalai Monte is Changing The Chiang Mai Sky Line Forever!
The Supalai Monte since it launched it has been plagued with rumors about whether they would get their building permit or not! This was due to the projects close vicinity to the courts.
Even the owners did not think that they would succeed, so they purchased a second plot on the other side of the road with the plan to move the entire project a couple of hundred meters up the road.
To the absolute surprise of everyone, they got their building permit and building has started. Now the Chiang Mai sky line is being altered again.
Even as this building goes up to the 20th floor the building is looking very impressive from all over Chiang Mai and there are still a further 11 floors to go.
The sales started several years ago with a clever sales team that would sell out several floors at a time. Then wait several weeks before releasing several more floors.
Every time there was a new release of units there would be long ques of cars up the road trying to get to the sales rooms. Since this project I have not seen such a successful sales approach. This would be followed swiftly afterwards with “sold out” signs.
Then all of a sudden the doubt started and the rumors began.
Now it is time to see the building progress there is still a long way to go before its completion. Once complete the Supalai will be officially the tallest building in Chiang Mai. 5 floors higher than Floral Condo.
Currently there are few that do not feel that Chiang Mai has a glut of new units on the market and many are wondering if there will be enough demand on the rental front for many of the 700 plus units that will hit the market once complete, let alone the grand total of 1400 units once Supalai Monte 2 is completed!
For now will just have to wait and see.
What are your thoughts on this building? Have you heard the rumors? Have you bought in this building? Or do you think they should not be allowed to build such high rise buildings in Chiang Mai?
We love to hear your comments below.
Frank Newton
on said
Not only will these buildings change the skyline, they will change the neighborhood too.
More people living there will mean more business in the area. More for the Festival mall, and more for the nearby emerging CBD. If ever CM gets aound to building the (promised) light rail system than the intersection next to Festival Mall will have to be a key stop.
Perfect Homes (Chiang Mai Properties)
on said
Hi Frank, I feel you are absoultely right. There are huge number of condos units being built in this area and it is becoming a hub of activity in its own right.
CBD, is slowly but surely filling up. It is an area to watch!
Thanks again for your thoughts!
Dennis Dowsett
on said
We bought on the 28th floor Dec 2015, 46sq, I’m not sure if by August 2017 when the complex is completed if the price will increase somewhat.
Perfect Homes (Chiang Mai Properties)
on said
Hi Dennis, I agree that many people that purchased a unit here a few years back, will see an increase in asking prices. But the worry is that the building has many units that are still unsold. So, it could possibly very difficult to sell if you were wanting to in the short run.
Were you looking to move in? Or resell?
Frank Newton
on said
Any updates here?
How is SM1 going, and has it topped out yet?
And for SM2, is it selling well?
What sorts of units are still available?
Perfect Homes (Chiang Mai Properties)
on said
Hi Frank,
The Supalai Monte Building 1 is nearing completion, I am guessing they will start transfering units next month or soon after. It will be interesting to see how many do not get approved for thier mortgages as the banks are still being pretty tight on them.
Supalai Monte Building two sales, I must admit I am not sure how they are going. The Condo being built next to Central festival is claiming to be sold out.
Bas
on said
What’s the latest guys? It’s March 2017 now and just looking at the building 1 at night shows that no one has moved in yet. Are they finishing it off?
Perfect Homes (Chiang Mai Properties)
on said
Hi Bas,
We are looking forward to a site inspection at the Supalai this comming week. They are nearing completion, but final transfer dates keep moving. We are steadily hearing from buyers that have their deposits down and are looking to sell their contracts. It will be interesting to see how many re-sales hit the market in the coming months.
Also a big question we are getting is about rental rates in the building but we are not commenting on this at the moment until after inspection.
All the best
Perfect Homes