Land near mass transit holding up
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The price of land in inner Bangkok and located close to the mass-transit system comes in at Bt400,000 to Bt600,000 per square wah, nearly the same as last year, says research by property developer and agency Aquarius Estate.
One square wah equals 4 square metres.
The Agency for Real Estate Affairs (AREA) reported land prices on Rama I Road (Siam Paragon area) as being higher than other inner-city locations at Bt1 million per square wah.
The AREA's research ranked Silom as the second most-expensive location, at Bt850,000 per square wah, up from Bt500,000 in 2000.
Meanwhile, land on Leab Klong 13 in Pathum Thani's Lam Luk Ka district recorded the lowest price in the greater Bangkok area: Bt2,000 per square wah.
The research showed land prices had risen significantly from 2005-07, since which time they had stabilised.
Sukhumvit Road (Times Square Building area) recorded the strongest growth, from an average of Bt400,000 per square wah in 2005 to Bt750,000 now - up nearly 97 per cent. This was followed by Sukhumvit (Ekamai area), with the average price rising 89 per cent to Bt500,000 per square wah.
However, prices in some areas of Bangkok and its suburbs have recorded drops in the same period, such as land on Rat Uthit Road in Nong Chok district, where prices have fallen 11-13 per cent, the research said.
