Silom Road leads Thailand land prices

Silom Road is home to the most expensive land in Thailand, according to new official figures.

The Treasury Department’s data for 2016 to 2019 show that appraisal prices nationwide are up 27.8 per cent from the levels set in 2012 to 2015, with Silom Road remaining the priciest.

Land on the road from Soi Sala Daeng to Narathiwat is appraised at 1 million baht per square wah, up 17. per cent from 2012 to 2015. Silom Road was followed by Ratchadamri Road (900,000 baht per square wah, up 12.5 per cent), Rama I Road and Phloenchit Road.

Average land prices in Bangkok climbed 15.8 per cent, reports the Bangkok Post, while prices in the provinces jumped 27.9 per cent.  Away from Bangkok, Hat Yai district in the southern province of Songkhla was ranked most expensive, with a land appraisal of 400,000 baht per square wah, just ahead of downtown Chiang Mai (250,000 baht) and Pattaya Beach Road in Chon Buri (220,000 baht).

The cheapest land plots were in Omkoi, Chiang Mai, with land appraised at a mere 10 baht per square wah.

Despite Central Bangkok’s rising land prices, though, the wider region of Bangkok is forecast for the strongest growth, according to developers. They argue that a growth of 5 to 10 per cent is possible in 2016, as the government invests in improving infrastructure around Greater Bangkok.

“When the government starts to invest in infrastructure projects, that will open up new land for property firms to develop residential projects. This will challenge property firms to invest in the new locations following the new mass-transit route from Bangkok to the suburbs and [nearby provinces],” the CEO of Pruksa Real Estate, Thongma Vijitpongpun, told Nation.