Land prices rose dramatically during the Asian Tiger boom years from 1988-1996 before the market came to a grinding halt in the 1997 financial crisis. 
Land price growth resumed in the early 2000s and there has been a rapid escalation of prices over the past two years for prime sites. 
Two landmark transactions in the late 1980s were the acquisition of an 8-rai (3.2-acre) site on Sathorn by the original developer of Empire Tower for around Bt125,000 per square wah (4 square metres) and the acquisition of a 8.5-acre site on Wireless Road, which was then the Standard Chartered Bank manager&#39;s house, by the M Thai Group for around Bt250,000 per square wah which is now All Seasons Place. 
The latest sale in Sathorn was the 8-rai site of the Australian Embassy for Bt1.45 million per square wah in 2017. In Lumpini, SC Asset paid Bt3.1 million per square wah for an 880-square-wah site on Soi Lang Suan.&nbsp; 
The largest land sale in terms of value was the sale of the 23-rai British Embassy site this year to the Central Group/Hongkong Land joint venture.

Land price up 1000% since 1988: CBRE

Land prices in central Bangkok have increased by 1,000 per cent since 1988 when CBRE established an office in Bangkok 30 years ago, the property firm said.