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Pattaya Daily News

03 September 2013 :: 09:09:41 am 77905

Land Prices In Pattaya Have Increased 150-200%!

Land prices in Bangkok are booming! Currently the land price in Sukhumvit area has increased to 2 million per square wah and the Jomtein area in Pattaya has increased 150-200%.
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Mr. Chana Nuntachantoon , Managing Director of Century 21 realty affiliates (Thailand) co. ltd claims that in the next 1-2 years sales of land plots near the BTS will rise as high as 2 million per square wah. The condominium projects will have a starting price of 1.8-2 hundred thousand per square meter. Major real estate developers rush to buy land in many cities, this has resulted in land price increasing to more than 100%.

Although economic conditions are volatile but the land price on the skytrain areas continues to grow rapidly. Currently, land in Soi Sukhumvit 55 started at $ 1.3 million per square wah and now the company is negotiating to buy the land at the beginning of Sukhumvit which is 1.8 million square wah.

Moreover, due to the increase land price in the city area, this has pressurized large investors to start investing in other provincial areas to generate more growth in sales and revenue. This has also resulted in increased land price in these areas.

Mr.Uthai Uthaisaengsuk, Senior Executive Vice President of Business Development & Project Development Division (High Rise) at Sansiri Public Co. claims that the land price in other provinces are rising constantly i.e. Phitsanulok and Petchaboon have risen 100%, Cha-am 60-100% Jomtien land price has increased drastically to about 150-200%.

Mr. Phairat Monthaphan, President of Valuers Association of Thailand explained that the developer should not be excited about the upcoming high-speed rail project and should not predict land price yet. They should wait for the speed rail route and stopping destination first because that could affect the land price.

Photo : Internet   Category : Society

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