Suburban land prices in Bangkok are rising due in large part to rail lines that are currently planned or being built. And while these areas aren’t property hot spots just yet, they are worth watching moving forward based on similar trends being seen elsewhere in the Thai capital.
According to the Real Estate Information Center (REIC), the five districts with the highest land price increases during the first quarter of 2022 were all located where public transportation infrastructure is planned.
Land prices in the Thawi Watthana and Taling Chan districts rose by 8.5 percent year-on-year with these eastern suburbs to be intersected by the SRT Light Red Line. Meanwhile, the Lak Si district recorded a land price increase of 8.2 percent in the same period. The area is going to be served by both the MRT Pink Line and SRT Red Line.
There were also noticeable land price increases in Bangkok’s neighboring provinces of Nonthaburi and Samut Prakan which have existing public transportation infrastructure that will be expanded.
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Suburban land prices in Bangkok following familiar trend
The jump in the price of suburban Bangkok land for sale mirrors what happened in several other suburban districts that have been earmarked for public transportation infrastructure.
Developers grabbed plots in the 2010s when the MRT Orange, Brown and Yellow Lines were announced which caused land prices in districts to the north and east of the city center to soar. With work on some of these lines nearing completion, condominium projects are springing up around them which has led to a noticeable increase in demand.
The Dot Property Group Bangkok Condo Market Report Q1 found that there was a 6.9 percent of all domestic inquiries between October 2021 and March 2022 came for condos in the Bang Sue, Chatuchak Lat Phrao districts which are home to Bang Sue Grand Station; SRT Red Line and Light Red Line; and MRT Brown Line among others.
Elsewhere, the east suburban area of Suan Luang and Bang Kapi received 5.7 percent of all domestic inquiries between October 2021 and March 2022. This area will be served by the MRT Orange, Brown and Yellow Lines with all three meeting at the Lam Sali Intersection in Bang Kapi
The Dot Property Group Bangkok Condo Market Report Q1 is available for download today! Click here for your copy.
