Land Prices Surge In Three Areas

[sbk]

Land prices surge in three areas

Silom remains the priciest at B650,000

WICHIT CHANTANUSORNSIRI

Bang Kho Laem, Sathon and Yannawa districts in Bangkok posted the highest increases in the Treasury Department's new land valuations effective from January until 2011.

Property values in Bangkok rose 5.76% overall under the new assessment from the last survey. Silom Road, in the heart of the Bangkok business district, maintains its position as the most expensive property in the country at up to 650,000 baht per square wah.

The least expensive property in Bangkok was in Nong Chok district, at 260 baht per square wah.

Continued here www.bangkokpost.com/Business/28Dec2007_biz001.php

[londonthai]

I would think it's rather 26k/2 wah or maybe 2.6k for the plots away from the car access.

260 is maybe for a wasteland in Isaan

[quiksilva]

If Silom is the most expensive location how come the British Embassy site sold at 900K / sqwah? As usual the governments appraised values bear little resemblance to true open market values.

Titles rarely sell on Silom hence there are very few comparable transactions but I would imagine that if a main road plot did become available in the open market it would fetch something in the region of 750-800K / sq wah in the prime part (i.e. opposite Patpong)

That may seem outlandish to some but consider the fact that I have heard of recent transactions on Ploenchit exceeding 1,000,000 per sq wah and another firm took a 30 year leasehold on Ploenchit at 750K / sqwah, there are also comp. transactions at 650K on Sathorn