Land price in central Bangkok remains unchanged

[webfact]

Land price in central Bangkok remains unchanged

By The Nation

 

 

The price of land in the heart of Bangkok has remained unchanged despite the Covid-19 crisis, Kulwadee Sawangsri, executive director of investment and land services for CBRE (Thailand), said on Wednesday.

 

She said land in Bangkok’s three central business districts had stayed the same since 2019 as several projects had to be delayed.

 

“In 2019, land in the Ploenchit-Lumpini area was the most expensive at Bt3.9 million per square wah, while in Sukhumvit it was Bt2.8 million per square wah and Bt1.7 million per square wah in Silom-Sathorn area,” she said.

 

Kulwadee added that no change in price is expected in these three areas as most owners are waiting for the right opportunity to sell their land, even though some have sold cheaply.

 

“This is an opportunity for businesses to adjust their project, such as reducing the size to ensure construction is completed easily and quickly,” she added.

 

Source: https://www.nationthailand.com/property/30402202

 

 

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[onebir]

21 minutes ago, webfact said:

Kulwadee added that no change in price is expected in these three areas as most owners are waiting for the right opportunity to sell their land, even though some have sold cheaply.

The waiters didn't transact, the cheap sellers did, so it sounds like most transactions have been 'cheaply'... In that type of situation, just how is it possible to say land prices are unchanged???

[madmen]

47 minutes ago, onebir said:

The waiters didn't transact, the cheap sellers did, so it sounds like most transactions have been 'cheaply'... In that type of situation, just how is it possible to say land prices are unchanged???

Eg 10000 units for sale, 20 sold cheaply. Won't effect the average noticeably . There is no global real estate crash and just because some TV posters are praying for the baht to implode and RE to crash doesnt mean it will be so 

[onebir]

3 hours ago, madmen said:

10000 units for sale, 20 sold cheaply. Won't effect the average noticeably .

You think asking prices measure the true value of property? Sellers and buyers can ask/offer what they like; it's only when there's a sale that it's indicative of the true value. In this case, that appears to be the 20 that sold cheaply...

[Pique Dard]

6 hours ago, webfact said:

“This is an opportunity for businesses to adjust their project, such as reducing the size to ensure construction is completed easily and quickly,”

quickly, yeah  because bangkok is  sinking up to 2 cm every year!

[hotchilli]

7 hours ago, webfact said:

“This is an opportunity for businesses to adjust their project, such as reducing the size to ensure construction is completed easily and quickly,” she added.

Or waiting for unsold units to sell before building more empty boxes.

[Darksidedude]

Typical Thailand it never follows any sort of trend, things going bad well shutter the place up and dont sell go back to the bush and plant some rice