The highest land prices in Bangkok are in the Siam Square-Ploenchit area at a record 1.5 million baht per square wah (per four square metres), or 600 million baht a rai, and overall land prices in Bangkok have rise by 3.7% in the past year, according to a survey by Agency for Real Estate Affairs (AREA).
Prices in these two areas rose from 1.4 million baht per square wah in December last year (1 rai = 1,600 sq m and 1 rai = 400 sq wah).
The Witthayu Road-Sukhumvit Soi 1-21 area is the second most pricey, at 1.3 million baht per sq w, or 520 million baht/rai and the Silom - Ratchadamri area is third at 1.25 million baht a sq w, or 500 million baht/rai.
The lowest land value in Greater Bangkok is in the areas around Liab Klong 13 Road, at 2,500 baht a sq w, or one million baht/rai, while areas near Bangsai Arts and Crafts Centre is next cherapest at 4,600 baht a sq w or 1.84 million baht/rai.
AREA reported that land around The Mall, Bang Kae branch, have increased the most in one year (33%) in rising from 105,000 to 140,000 baht per sq w. Land around Liab Klong 13 Road has fallen the most in five years from 3,500 to 2,500 baht per sq w.
AREA president Sopon Pornchokchai said areas near public transport and areas in the central area of Bangkok have an exceptionally high land value increase.
Land near the On Nut-Bearing BTS extension line had the highest land value increase in one year, at 14.9%, while land near the MRT's blue line had a 14% increase, and near the MRT's purple line values had gone up 11.5%.