Land prices soar near Khao Yai
As people flee cities for park area, developers strive to meet demand
Land prices around Khao Yai National Park from Thanarat Road to the park entrance more than tripled in three years from Bt800,000 per rai to Bt3.5 million, thanks to demand for vacation homes here.
Many of the homes built around the park in Nakhon Ratchasima province are owned by business executives who want a place to escape from polluted cities, an investigation by The Nation found.
For example, Vikrom Kromadit, managing director of Amata Corporation, has a cabin at Khao Yai. Others include top managers of Sittipol Co and CP Group’s and Workpoint Entertainment’s owner Panya Nirankul.
A Sittipol manager said he bought a 15-rai (2.4-hectare) lot on the way from Thanarat Road to Khao Yai three years ago for Bt800,000 per rai to build his second home. But now the lot opposite his property is asking for Bt3.5 million per rai.
Viboon Vongsilpwattana, managing director of Automatic Business Group Co, said he bought land on the way to Khao Yai three years ago at Bt700,000 per rai but now its value had shot up to Bt3 million per rai (nearly Bt22 million per hectare).
Amid the exploding demand for second homes in the Khao Yai area, many developers are interested in launching residential projects. They include Sansiri, Magnolia Quality Development Corporation Co, Tuscany Ville Co, Vilailak Development Co and Kirimaya Group.
Some housing projects in Khao Yai are now priced at more than Bt5 million per unit. However, Plus Property Co, a property-management subsidiary of Sansiri, reported that the demand for second homes near the park was growing strongly, especially for detached houses that don’t cost more than Bt5 million.
Its research also found that locations between Mittraphap and Thanarat roads were popular. In demand were detached houses, townhouses, condominium buildings with only six storeys, and vacant land for those wanting to build their own dream dwelling amid nature.
