Land plots in Bangkok's prime locations are in high demand from both large developers and non-property investors jumping into the business, leading to prices soaring 15% a year on average.
Kulwadee Sawangsri, executive director for investment and land services at the property consultant CB Richard Ellis (Thailand) or CBRE, said demand is so high because buyers want to develop condominiums, offices and private homes.
Some want to buy land and keep it for capital gains in the future and think there are no expenses when holding a plot. But on the contrary, owning a condo or a house entails expenses such as for common areas or maintenance fees.
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