Bangkok’s Wireless Road to see biggest jump in land prices
Land prices in many areas of Bangkok have reached 1 million baht per square wah (4 square metres), according to the Treasury Department’s new list of appraised land value to take effect on January 1.
The new appraised land prices, normally used for the calculation of land tax or the application of property loans, will be in force between 2023 and 2026. This new list replaces the current one in use from 2019 to 2022, as the Thai economy is expected to recover next year.
The newly appraised land prices would benefit home buyers as they could get higher loans, said Surachet Kongcheep, managing director of real estate consultancy Property DNA Co Ltd.
Land plots along Wireless Road in the sections between Ploenchit to Saen Saeb Canal will see the largest increase in prices when the new appraisal list becomes effective — from 500,000 baht per square wah previously to 1 million, according to Treasury Department director-general Chamroen Phothiyod.
He said another stretch of Wireless Road, from Rama IV to Ploenchit, would see an increase from 750,000 baht per square wah to 1 million.
Land prices on Rama I Road, in the section spanning Rajdamri and Phya Thai, would also rise to 1 million baht per square wah, from 900,000 at present, the official said.
Land prices in the business district of Silom will remain unchanged at 1 million baht per square wah, according to him. This includes the Silom Road section spanning Rama IV Road and Narathiwat Ratchanakarin.
Other Bangkok areas that will see increases of appraised prices to 1 million baht per square wah include Ploenchit Road and Rama I Road (from Rajdamri to Phya Thai).
The Rajdamri Road section between Saen Saeb Canal and Ploenchit Road will see new land prices at 900,000 baht per square wah.
Another business area of Bangkok, Sathon Road (particularly the section spanning Rama IV Road and Charoen Rat Road, will see appraised land value rise to 800,000 baht per square wah.
Appraised land prices for the section between Ploenchit and Rama IV Road will be 750,000 baht per square wah, compared to 700,000 baht for land prices along Yaowarat Road, which houses Bangkok’s Chinatown.
Land plots along the newly built mass-transit systems like the MRT Orange Line, from the Thailand Cultural Centre to Minburi on the eastern side of the city, will also see price increases.
