Highest Prices For Land And Condo In Bangkok Expected This Year
According to the most recent research that was conducted by CBRE Thailand, this year there will be greater competition when it comes to owing land in the centre of Bangkok.
Plots in Bangkok will be more attractive to investors than ever before and it is expected that the value of land will reach its highest especially those located in the central business districts in the capital of Thailand. It will come as no surprise if there is a new hotel in Ploenchit eventually.
It is also expected that the number of foreign investment for 2017 will be higher in the metropolis despite the fact that the local developers are conducting more marketing campaigns in order to attract demands from foreign lands.
The central business district located in Ploenchit-Lumpiniwas revealed to have the highest inflation when it comes to land prices in 2016. The higher price recorded was something not heard of before – 1.9 million baht or US$ 54,200. The highest numbers were also recorded in other places such as along the Sukhumvi Road with highest price at 1.75 million baht and the area located around the Silom-Sathorn with highest price set at 1.45 million baht.
The record prices can be contributed to the fact that the condominiums downtown are still the most in demand. The report from CBRE Research indicated that the records for the land price will be once again broken this year in all of the central business district locations.
Last year, the off-plan condominium units are found to have an average price of 247,613 for every square meter and it is expected that this record number will be broken in the coming years. The average price for condominium units located in Central Lumpini is at 250,363 for every square meter which is the highest that was recorded since the year 2010 in the capital of Thailand. It is also predicted that the price of 198,482 for every square meter, which is the resale value, will be higher than before.
This is the very reason why it is now a good time for local and foreign developers to invest in properties and hotel in Ploenchit as it is one of the areas included as the most in demand central business district.