COVID-19, economic slowdown not stopping rise in Bangkok land prices

[webfact]

 

Undeveloped land prices in Bangkok continue to rise steadily, although at slower pace, despite the COVID-19 pandemic and subsequent economic slowdown, which have been affecting Thailand for the past two years, according to the Real Estate Information Centre of the Government Housing Bank (GHB).

 

Empty land prices pre-COVID, from 2015 to 2019, increased by an average of 14.8% per quarter, but the prices for the past six quarters, since Q3 2020, increased by an average of 4.1% per quarter.

 

The Real Estate Information Centre attributed the steady price rise, especially in Bangkok’s eastern region, to the construction of several elevated train projects, some of which will near completion this year.

 

Full story: https://www.thaipbsworld.com/covid-19-economic-slowdown-not-stopping-rise-in-bangkok-land-prices/

 

-- © Copyright Thai PBS 2022-01-26

 

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[RichardColeman]

Is this a rise in selling prices or a rise in sold prices ? 

[JayBird]

They might be cherry picking here.

 

Places near certain developments may go up, whereas other places are definitely going down.

[bkk6060]

Generally they are going up.  As the article says current and future development of infrastructure in areas that were prior considered poor locations, can/will be accessed via BTS, trains, etc.

[new2here]

My opinion only, locations that on a pre-pandemic basis were “good” locations and now, during or post-pandemic are still seen as good, will retain their value and I’d fully expect to continue to rise.

 

Its the places that perhaps were more speculative on a pre-pandemic basis that I might see as being more at-risk for either losses post-pandemic or very very marginal rates of increased value going forward.

 

I think the whole pandemic HAS made some fairly drastic changes in how things operate and as such the underlying value of some assets… but … I also think that in the larger picture, things that were “value” before covid started are still going to be value post-covid… that i don’t think will change all that radically.

[Jimbo2014]

Wonder what clearance rates are like?  We need more than one data point.