Bangkok land prices: up 32% in one year

Land prices
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Land prices in Greater Bangkok rose by an average of 32.3 percent during the 12 months ending June 2018.

The development of future mass-transit connections throughout the city has been cited as the main reason for the substantial rise.

Thailand’s government-backed Real Estate Information Center (REIC) shone the spotlight on areas that have seen the highest rise in prices.

The leading location was named as the Phra Khanong, Bang Na, Suan Luang and Prawet area. Here, land prices were said to have risen by 53 percent year-on-year.

Nakhon Pathom was named second with a 39.1 percent rise in land prices.

Third was highlighted as the Ratburana, Bang Khun Tien, Thung Khru, Bang Bon and Jom Thong areas with a rise of 38.2 percent.

Readers will note these locations are, in most cases, far from central Bangkok and, arguably, in locations where new developments will see higher sales prices than average in the coming months and years due to the increase costs of land which accounts for the majority of development costs.

Even with some much-reported increases in land prices, inner Bangkok locations saw a modest 20.1 percent rise in 12 months.

The REIC also revealed that land prices in locations that are earmarked for future mass-transit lines were 52.1 percent higher with no mass-transit is planned.

Andrew Batt
The author of this article is Andrew Batt, the founder and editor of Andrew has been writing about property and real estate issues in Thailand and Southeast Asia for more than 10 years. He has worked for PropertyGuru Group, DDproperty, Dot Property Group, Hipflat and AsiaRents. He has also produced content for leading Thailand property developers and real estate agencies.

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