Bangkok Land Prices Expected To Rise By 3%
According to Thailand’s Agency Real Estate Affairs (AREA), Bangkok land prices are thought to rise by 3% during 2015. Last year, prices increased by 3.5%.
The highest prices are actually found in Siam Square, Chit Lom and Phloen Chit with prices reaching as much as THB1.75 million per Square wah (THB437,500 per SQM). Therefore, land plots in this area will most probably reach THB2 million per square wah this coming year.
2014’s raise was lower than the 2012-2013 4.6% y-o-y increase due to a slower economic growth following the political turmoil.
Since 2001, land prices have been increasing each year and only considering the last past 5 years, prices grew by 55% on average in whole Bangkok. More particularly, Bangkok CBD has witnessed a jump in prices reaching 75.8%!
Also, according to AREA, land plots located along the BTS & MRT lines were seeing a much higher jump in prices up to 9.8%.