Bangkok land costs rising, however still below pre-pandemic common

While Illegal are hardly on a tear, they proceed to rise even amid the financial uncertainty led to by the Covid-19 pandemic. Figures from the Real Estate Information Centre, generally known as REIC, show a quarterly rise of zero.5%, and a yearly rise of seven.6%, in the land price index in Greater Bangkok in the third quarter. As reported by the Bangkok Post, performing Director-General Vichai Viratkapan has pointed to landlords opting to hold plots while waiting for an economic recovery as a major factor within the comparatively gradual index development.
Viratkapan noted that, whereas prices continued rising regardless of the financial slowdown, “the growth fee was decrease than the five-year common for 3 consecutive quarters or because the first quarter of 2021 because of the economic fallout”. By method of comparability, the five-year quarterly average for the interval 2015-19 was four.1%.
Locations internet hosting mass transit strains, together with areas in proximity to extension traces, particularly the Nong Khaem and Bang Khae districts, accounted for virtually all of the index growth. Viratkapan mentioned that the value rise “was pushed by these along the Blue Line’s Hua Lamphong to Bang Khae part which began operation in September 2019”.
Meanwhile, the Orange Line from Taling Chan to the Thailand Cultural Centre accounted for the second largest improve in progress, with land costs within the Bangkok Yai, Bangkok Noi, Khlong San and Phra Nakhon districts going by way of the roof.
As reported by the Bangkok Post, REIC screens the costs of undeveloped land within the Bangkok, Nonthaburi, Pathum Thani, Samut Prakan, Samut Sakhon and Nakhon Pathom provinces, using 2012 as its base yr. In producing the survey, it only refers to vacant land sized from 200 sq. wah..

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