Palm Springs Nimman Areca

Palm Springs Nimman Areca is a low-rise condominium located on Soi Nimmanhaemin 5, Suthep Subdistrict, Mueang Chiang Mai District, Chiang Mai 50200. Positioned in the heart of the Nimman area, the project is surrounded by cafes, restaurants, and lifestyle destinations, making it suitable for both residence and rental investment.

The project was developed by Palm Springs Place Co., Ltd. and completed around 2014. It is a low-rise residential building with 8 floors, 1 building, and approximately 62 units. Parking is provided according to the project allocation. Unit types mainly include 1-bedroom and 2-bedroom layouts, designed for practical urban living and appealing to both end-users and investors.

Facilities include a swimming pool, fitness room, lobby, passenger elevator, and common relaxation areas. Security features include security guards, CCTV, and controlled access entry. Project management is generally handled by the condominium juristic person responsible for common area maintenance and overall building order.

A key advantage of the project is its location on Nimmanhaemin Soi 5, close to MAYA Lifestyle Shopping Center, One Nimman, and Chiang Mai University. This supports consistent rental demand from working professionals, students, and expatriates. For a nearby project in the same neighborhood, see The Nimmana.

Palm Springs Nimman Areca (Nimman Soi 5, Chiang Mai) sits in a high-demand rental pocket driven by expats, remote workers, and the Nimman-Mae Hia university employment cluster. Chiang Mai still has no urban mass-transit rail, so pricing is primarily supported by neighborhood walkability and car access rather than station proximity.

• 2026 resale pricing: 1-bedroom 30-35 sq.m. typically trades around THB 3.25-3.95M per unit
• Average price per sq.m.: about THB 105,000-120,000 (floor, view, and condition are key)
• Average rent: THB 16,000-22,000 per month for furnished 1-bedroom units

Rental Yield (simple example): buy at THB 3.60M and rent at THB 19,000 per month. Annual rent = 19,000 x 12 = THB 228,000. Gross yield = 228,000 / 3,600,000 = 6.33% p.a. After common fees and vacancy allowance, a more realistic net range is often ~4.8-5.6%.

Capital Gain view: Nimman prices tend to rise steadily but not aggressively due to ongoing condo supply and close substitutes such as The Nimmana and nearby One Plus projects competing on entry price. For 2026-2028, a reasonable expectation is ~2-4% annual appreciation, with better upside when buying below ~THB 115,000 per sq.m. and focusing on units that remain easy to lease (good layout, maintained condition, and marketable furnishings).