Bangkok prime land prices soar 15%
Prices for land plots in Bangkok’s prime locations have jumped 15 per cent year-on-year on healthy demand from investors and property developers, a research by property firm CB Richard Ellis Thailand shows.
Most sought-after areas are Ploenchit, Sukhumvit, Silom, Sathorn, Ratchadaphisek, Phayathai and Petchaburi, with prices per wah (1 wah = 4 square meters) having reached 1.5 million baht ($50,000) in Ploenchit area, up from 400,000 baht in 2003.
The highest increase in land prices over the past decade has been in the Sukhumvit area between Phloenchit Road and Sukhumvit Soi 55 (Thong Lor), where demand is very high. The average land price in this area soared 340 per cent from 2003 to 1.35 million a square wah last year. Next was the Silom and Sathorn area, rising by 330 per cent to 1.2 million baht per square wah in the same period, according to the research
Another hotspot are Bangkok’s outskirts such as the Bang Kae, Rattanathibet and Chaeng Watthana areas, where land prices have even soared by 40-50 per cent, driven by construction progress of mass transit lines.
CB Richard Ellis said land investment currently generates the highest yield among all property categories in Bangkok.
Foreigners cannot directly buy land in Thailand, apart from large corporations who want to invest in a manufacturing site and are granted special permission. However, a foreign investor can set up a company with Thai majority (51 per cent) that buys the land.
[caption id="attachment_6959" align="alignleft" width="300"] Land plots in Bangkok's Sukhumvit area are in high demand[/caption] Prices for land plots in Bangkok's prime locations have jumped 15 per cent year-on-year on healthy demand from investors and property developers, a research by property firm CB Richard Ellis Thailand shows. Most sought-after areas are Ploenchit, Sukhumvit, Silom, Sathorn, Ratchadaphisek, Phayathai and Petchaburi, with prices per wah (1 wah = 4 square meters) having reached 1.5 million baht ($50,000) in Ploenchit area, up from 400,000 baht in 2003. The highest increase in land prices over the past decade has been in the Sukhumvit area between...
Prices for land plots in Bangkok’s prime locations have jumped 15 per cent year-on-year on healthy demand from investors and property developers, a research by property firm CB Richard Ellis Thailand shows.
Most sought-after areas are Ploenchit, Sukhumvit, Silom, Sathorn, Ratchadaphisek, Phayathai and Petchaburi, with prices per wah (1 wah = 4 square meters) having reached 1.5 million baht ($50,000) in Ploenchit area, up from 400,000 baht in 2003.
The highest increase in land prices over the past decade has been in the Sukhumvit area between Phloenchit Road and Sukhumvit Soi 55 (Thong Lor), where demand is very high. The average land price in this area soared 340 per cent from 2003 to 1.35 million a square wah last year. Next was the Silom and Sathorn area, rising by 330 per cent to 1.2 million baht per square wah in the same period, according to the research
Another hotspot are Bangkok’s outskirts such as the Bang Kae, Rattanathibet and Chaeng Watthana areas, where land prices have even soared by 40-50 per cent, driven by construction progress of mass transit lines.
CB Richard Ellis said land investment currently generates the highest yield among all property categories in Bangkok.
Foreigners cannot directly buy land in Thailand, apart from large corporations who want to invest in a manufacturing site and are granted special permission. However, a foreign investor can set up a company with Thai majority (51 per cent) that buys the land.
