Central Group grabs Ploenchit Road for record-breaking 16 million baht per square metre

[webfact]

 

The land price per square wah in the heart of Bangkok is set to smash records, with Central Group snatching up a plot on Ploenchit Road from the Sukosol family at 4 million baht per square wa (16 million baht per square metre).

 

This coveted three-rai plot, formerly the Morakot parking lot nestled between Central Chidlom and Soi Somkid, has been a hot topic among developers since 2018. An insider source revealed that the Sukosol family resisted previous offers but a new player has entered the game: the relentless rise in land and building taxes.

 

The game-changer came with the implementation of the land and building tax in 2020, now reaching its full-rate collection this year. Additionally, new appraisal prices introduced last year are nudging even the most stubborn landlords to reconsider their holdings.

The Treasury Department’s latest bombshell indicates a staggering 11% surge in the appraisal price of land on Ploenchit Road for 2023 to 2026, soaring to 1 million baht per square wa from the previous 900,000 baht (2016 to 2022). This seismic shift means that a 3-rai plot (4,800 square metres) on Ploenchit Road, with an appraisal price of 1.2 billion baht, would be slapped with a colossal 7.2 million baht tax bill.

 

by Puntid Tantivangphaisal

Photo courtesy of Expedia

 

Full story: The Thaiger 2024-02-02

 

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[flyingtlger]

Thailand is no longer a cheap place to live......

[terryq]

Quote

The land price per square wah in the heart of Bangkok is set to smash records, with Central Group snatching up a plot on Ploenchit Road from the Sukosol family at 4 million baht per square wa (16 million baht per square metre).

I don't think so.

A square wah is 4 square metres , so 4 mill a sq wah is 1 mill a sq m.

 

 

[NanLaew]

I was married to a Sukosol once, briefly. That's what she told me she was anyway. Very, very white skin, Chinese looking? Rich?

 

I recall they were the family behind the Siam Hotel where I stopped at on one, if not my first foray in Bangkok? My mate Stephen Gormley did the glasswork in the lobby BTW. Also, the Siam Bayshore and Bayview hotels down in south Pattaya.

 

Must have fallen on hard times if they can't afford a paltry 7.2 mill tax bill, eh?

 

PS: I had sex in a car one rainy afternoon in that Morakot parking lot, thus it holds special memories for me. Not with the Sukosol girl either.

Edited February 2 by NanLaew

[Ben Zioner]

What did the german dummy, err.. president, say about the "Thai democracy"? Maybe he thinks a democracy can exist without freedom of speech?

[bokningar]

4 hours ago, webfact said:

4 million baht per square wa (16 million baht per square metre)

Isn't it the opposite?

1 square wa is 4 m2.

And that would make the price 1 million per square meter.

[The Alien]

9 hours ago, terryq said:

I don't think so.

A square wah is 4 square metres , so 4 mill a sq wah is 1 mill a sq m.

 

 

No proof reader or printed error? 

[billd766]

10 hours ago, flyingtlger said:

Thailand is no longer a cheap place to live......

Not correct at all.

 

Parts of Thailand are horrendously expensive and parts are relatively cheap.

 

It all depends on what you want, how much you want, and what you are willing to pay for it.

[khunjeff]

7 hours ago, NanLaew said:

I recall they were the family behind the Siam Hotel

 

The original (long gone) Siam Hotel was the one on Phetchaburi Road next to the Mona Lisa massage parlor, where ladies of the evening would congregate in the coffee shop late at night. The Sukosol family owned the Siam City Hotel on Sri Ayutthaya Road, which is now called (appropriately) The Sukosol Hotel.

 

The family also opened the luxury hotel "The Siam" in 2012, but I don't think that's the one you're thinking of.

 

Edited February 2 by khunjeff

[TallGuyJohninBKK]

12 hours ago, webfact said:

This coveted three-rai plot, formerly the Morakot parking lot nestled between Central Chidlom and Soi Somkid,

 

Seems as though they're talking about the empty parking lot that sits in front of / alongside Central Chidlom... I always had just assumed Central owned it, but wondered why it remained a vacant and mostly unused parking lot for many years...

 

I guess the OP article explains why, since Central didn't actually own the parcel until now.

 

 

 

[natway09]

They got the opening statement incorrect & I think they still meant 4mil a M2 = 16mil sq wa.