Property boom in Chiang Mai to continue
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The Bangkok-Chiang Mai high-speed train project is driving a property boom in the northern province, aside from the new city plan.
Pairat Siensaman, a provincial land officer, said that the train project which will boost the province's economic potential spurs new investment from several land developers like Land & Houses, Quality Houses, Supalai and Sansiri.
Local operators also rushed for development approval before the activation of the new city plan late April.
In the first quarter of this year, the province received 15 applications for single house development projects and 5 for condominium development. Throughout 2012, applications for single house development hit 55 against 11 for condonominium.
The construction of three new shopping complexes is underway in the province.
Land prices near the airport showed the biggest increase, from Bt3,000 per square wa last year to Bt25,000. The prices of land in the inner areas of Muang district rose by 20 per cent to Bt250,000 per square wa.
