Bangkok rapid transit stimulates land price growth in Q2

Bangkok rapid transit stimulates land price growth in Q2
Plots in proximity to the BTS Skytrain and future lines mount double-digit gains

By Property Report 25 Jul 2018 SHARE share-icon share-icon share-icon share-icon

The BTS Skytrain winds through downtown Bangkok at sunset. Travelers/Shutterstock

The average land price in Greater Bangkok rose 32.3 percent year-on-year in the second quarter of 2018, according to data revealed by the Real Estate Information Centre (REIC) via the Bangkok Post.

Prices appreciated fast in sites around the Thai capital’s future and existing mass rapid transit routes. Plots along the BTS Skytrain registered an average land price increase of 26.8 percent in the year to Q2 2018.

Locations near the planned Orange Line from the Thailand Cultural Centre to Min Buri were up 23.5 percent, followed by those close to the Dark Red Line linking Hua Lamphong and Maha Chai, with an increase of 21.4 percent.

Also notable was the 21.3 percent rise recorded around the Blue Line route of Bang Sue-Tha Phra-Hua Lamphong-Bang Kae, edging out the 21.2 percent growth around the BTS Silom Line.

More: Bangkok land prices skyrocket 1000% in 30 years

In locations where rapid transit lines had been planned, land prices were found to be 52.1 percent higher than those with no lines. Areas where lines were under construction were also higher by 32.1 percent.

Meanwhile, locations with existing lines had 24.2 percent higher land prices than those without.

The Phra Khanong-Bang Na-Suan Luang-Prawet area registered the highest land price growth overall in the city at 53 percent.

Nakhon Pathom, where the average land price rose 39.1 percent on the year, came in second, followed by the Ratburana-Bang Khun Tien-Thung Khru-Bang Bon-Jom Thong area with a growth of 38.2 percent.

In fourth place was the Samut Sakhon area with a rise of 27.4 percent. Inner Bangkok locations were collectively placed fifth with a positive change of 20.1 percent.