Khao Yai land prices soar over past three years
Land prices around Khao Yai National Park from Thanarat Road to the park entrance have more than tripled in three years from Bt800,000 per rai to Bt3.5 million, thanks to demand for vacation homes there.
Many of the homes built near 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.
Vikrom Kromadit, managing director of Amata Corporation, has a cabin in the area. Others include top managers of Sittipol Co and CP Group and Workpoint Entertainment’s owner, Panya Nirankul.
A Sittipol manager, who declined to disclose his name but said he had a residence in the Khao Yai area, said he bought a 15-rai (2.4-hectare) lot on the route from Thanarat Road to the park three years ago for Bt800,000 per rai to build his second home. But now the lot opposite his property is selling for Bt3.5 million per rai.
A survey by Plus Property Co, a property-agency arm of Sansiri, found that since February last year, 13 residential projects of all types with 1,495 units had been undertaken.
While the increase of projects and units has slowed because of various limitations, demand continues unabated and take-up rates are still on the rise, the research said.
Some housing projects in Khao Yai are now priced at more than Bt5 million per unit. However, Plus Property 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.
