Bangkok land prices in the lower Sukhumvit area have hit new record prices, with the area between Nana and Ekamai commanding prices as much as THB1.8 million per sq wah during the first six months of the year.
Kitisak Jampathippong, Chief Executive of real estate agency Century 21 Thailand, told reporters: “Land prices in this area have risen significantly, and by a higher percentage than those in other locations, as there are new consecutive developments like EmQuartier upcoming in the Phrom Phong area.”
Phloenchit Road and lower Sukhumvit will continue to be prime locations as these are popular with expats and many offices, added Kitisak.
“There was a plot of land sold on Sukhumvit Soi 24 where the price was THB2 million baht per sq wah, the highest in the country, but it was an exceptional case,” said Kitisak.
Away from lower Sukhumvit, the most popular locations were Thong Lor-Ekamai, where land prices were between THB1.2 million and THB1.8 million baht per sq wah are being achieved, followed by Phaya Thai-Phahon Yothin-Sanam Pao-Saphan Kwai (THB750,000 to THB850,000 baht). The third most popular location was Sathorn-Sala Daeng-Suan Phlu.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
