vacant land price Bangkok-perimeter continues to increase non-stop
On October 24, 2021 at 5:42 p.m.
vacant land price Bangkok – perimeter 5 sky train routes continues to increase non-stop
Real Estate Information Center reported that vacant land price index before development in Bangkok – vicinities in the third quarter of 2021 had an index value of 334.4 points, an increase of 0.5 percent compared to the previous quarter (QoQ) and an increase of 7.6 percent when Compared to the same period last year (YoY), which shows that land prices continue to rise. even during the economic slowdown But the increase is at a slower rate since the third quarter of 2020.
And if you look at the average growth rate for the past 5 years from 2015 to 2019, before the outbreak of the COVID-19 virus, it can be seen that the vacant land price index in each quarter increased by an average of 14.8 per cent. quarter compared to the same period last year (YoY) and an average increase of approximately 4.1 percent per quarter compared to the previous quarter (QoQ) (See Tables 1 – 2 and Charts 1 – 2).
Dr. Wichai Wiratakaphan, Inspector General of Government Housing Bank and Acting Director of the Real Estate Information Center It is noted that The growth rate of vacant land price index before development has begun to expand below the average of 5 years for 3 consecutive quarters since the first quarter of 2021, which has continued to spread of the COVID-19 virus until the third quarter of the year. 2021, the impact of the third wave of the epidemic. It can be seen that the price of vacant land before development in Bangkok – perimeter continues to increase, but clearly slows down. This suggests that some landowners may continue to hold their land in anticipation of economic recovery. And there may be other landowners selling the land during this period to use as working capital for business operations. As a result, the land price increased somewhat. but not much increase Most of them are price increases in areas with mainly trains passing through. and in the area at the end of the electric train line that is an extension of the electric train route that is already in service especially the blue line (Bang Khae – Phutthamonthon Sai 4) where land prices have been rising for 4 consecutive quarters. In the next phase, if landowners have more demand to release more land, it may cause the rate of change in the price of vacant land before development in Bangkok and its vicinity to continue to slow down in the next period.
The price of vacant land before development in the area with the train route passing through in this quarter found that the top 5 areas with the highest growth rate of land price are:
No. 1 is the Blue Line (Bang Khae – Phutthamonthon Sai 4), which is a project that is planned to be constructed in the future. which is the land in the western zone of Bangkok There was a growth rate of land price increased by 33.4 percent compared to the same period of the previous year (YoY). It was found that the price of land that the electric train passed in Nong Khaem and Bang Khae areas was the area where the price increased considerably. The price of land in this area has increased to the No. 1 for 4 consecutive quarters. The change in land prices in this area is a consequence of the change in land prices in the area along the MRT Blue Line. (Hua Lamphong – Bang Khae) that is open for service.
The second place is the Golden Line (Thonburi-Prachatipok) and the Blue Line (Hua Lamphong-Bang Khae), which are electric train projects that are already in service, while the Orange Line (Taling Chan – Cultural Center) is a project that is planned to be constructed in the future. The project had an expansion rate of land price increased by 31.9% compared to the same period of the previous year (YoY). It was found that the price of land passing by the BTS SkyTrain in the Bangkok Yai, Bangkok Noi, Khlong San and Phra Nakhon areas was the area where the price increased considerably.
Third place is MRT, which is a project that is already in service, and the Dark Red Line (Bang Sue-Hua Lamphong), which is a project that is planned to be built in the future. The rate of land price expansion increased by 31.4% compared to the same period of the previous year (YoY). It was found that the price of land passing by the BTS SkyTrain in Bang Sue and Chatuchak areas was the area where the price has increased continuously.
No. 4 is the Light Red Line (Bang Sue-Taling Chan), which is a project that was opened for service on August 2, 2021 with a growth rate of 29.5 percent in land prices compared to the same period last year (YoY). It was found that the price of land that the electric train passes in Taling Chan, Bang Phlat and Bang Kruai districts It is an area where prices have been increasing continuously.
and No. 5 is the Orange Line (Cultural Center – Minburi), which is a project under construction. and in this quarter Construction progress was 86.26 percent, with a growth rate of land price increased by 29.4% compared to the same period last year (YoY). The price has been increasing continuously.
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