Prices in flood-hit areas stable despite drop in demand
Land prices at several locations hit by the recent floods are still stable, while those in some areas close to planned mass-transit routes are expected to rise.
Some neighbourhoods along the Bang Sue-Bang Yai Purple Line project, such as Ratthanathibet, Bang Bua Thong and Bang Yai, are estimated to increase in price by 3-5 per cent when implementation starts by 2015.
Property developers and other parties are pressing the government to come up quickly with a water-management strategy to instil confidence in home-buyers, developers and others to decide to expand their investment.
Pairat Monthapan, president of the Thai Valuers Association, told a seminar on the post-flood property outlook, held by association yesterday, that although purchases of undeveloped land in flood-affected locations continued to drop last month, asking prices did not. Landowners do not want to sell their property for less than pre-flood prices.
Issara Boonyoung, president of the Business Housing Association, said property firms had postponed plans to expand this quarter because they have to wait and see whether the government
