Land price in central Bangkok remains unchanged
The price of land in the heart of Bangkok has remained unchanged despite the Covid-19 crisis, Kulwadee Sawangsri, executive director of investment and land services for CBRE (Thailand), said on Wednesday.
She said land in Bangkok’s three central business districts had stayed the same since 2019 as several projects had to be delayed.
“In 2019, land in the Ploenchit-Lumpini area was the most expensive at Bt3.9 million per square wah, while in Sukhumvit it was Bt2.8 million per square wah and Bt1.7 million per square wah in Silom-Sathorn area,” she said.
Kulwadee added that no change in price is expected in these three areas as most owners are waiting for the right opportunity to sell their land, even though some have sold cheaply.
“This is an opportunity for businesses to adjust their project, such as reducing the size to ensure construction is completed easily and quickly,” she added.