Land Prices To Grow Slow This Year
The current political situation in the Kingdom will certainly affect land prices growth in
2014 as government spending is delayed.
According to Sopon Pornchokchai, president of property consultant Agency for Real
Estate Affairs (AREA), land prices in the city will increase by less than 3% this year, the
lowest rate since 2010. In fact, prices were increasing by about 4.4% on average for the
last past 10 years, except in 2009 when the growth only reached 2.9%.
“No matter if [the political crisis ends with] reform or a coup, the Bangkok property
sector will inevitably see a negative impact and slowdown as the new government and
budget are delayed, at least by six months,” Mr Sopon said yesterday.
The highest land prices were unsurprisingly found in Siam Center, Chit Lom and Phloen
Chit where plots are sold at 1.65 million baht per square wah. Lands available for new
development are getting even more rare in this area. Also, the lowest land prices in
were along Liap Khlong 13 Road at kilometre 5 in the Lam Luk Ka area of Pathum Thani
(2,500 baht per square wah), a location far from inner Bangkok and with a serious lack
of accommodations and roads.
The largest increases were inevitably along the BTS and MRT lines, especially around On
Nut-Bearing (+10.5% year-to-year) where more and more developers are building new
Bangkok condos up.