BANGKOK, Jan 28 – Siam Square, one of the capital’s shopping paradises, topped the list of the country’s more expensive land prices at Bt1.65 million/sq wa, thanks to its prime location with Skytrain routes running through the area.
The most expensive land prices are for pieces of land located around Siam Square, Chidlom and Ploenchit BTS Skytrain stations at Bt1.65 million/sq wa or Bt660 million/rai, according to the Agency for Real Estate Affairs (AREA).
Sopon Pornchokchai, AREA President, said that land is the most expensive in these areas due to the Skytrain routes and the concentration of luxury department stores, despite no major land development.
Land behind Siam Square area is priced at Bt1.6 million/sq wa, followed by Times Square, Nana and Sukhumvit areas at Bt1.5 million/sq wa, Wireless Rd and Saladaeng at Bt1.4 million/sq wa, Silom at Bt1.35 million/sq wa and Ratchadamri at Bt1.3 million/sq wa, respectively.
AREA has researched land prices since 1985, he said. Prices of land in Bangkok and its vicinity have continuously increased since 2000 after the 1997 financial crisis.
Land prices near Skytrain or MRT underground stations are now at Bt392,000/sq wa on average, an increase of 339 per cent compared to the prices in 1998.
As of the end of 2013, land prices in the capital grew 4.6 per cent year-on-year, a higher growth than that of 2012 where it rose 3.7 per cent compared to 2011.
