Demand drives city land price by 15%

More non-developers getting into the act

Published: 11 Feb 2013 at 00.00
Newspaper section: Business

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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boons
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Discussion 1 : 11 Feb 2013 at 16.521
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Dear Bangkok Post Editors: You repeatedly present rising land and real estate values as a "good thing". I think we can all agree that rising food prices are a "bad thing". Rising education prices are a "bad thing". Rising medical costs are a "bad thing". And yet, remarkably (or perhaps expectedly) the banks and real estate magnates are given a healthy nod of approval when their particular industry sees asset price inflation which raises the costs of living for the vast majority of people. Rising land and real estate costs are catastrophic to individuals in the short term, and the macro-economy over the long term. This is a problem.
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Demand drives city land price by 15% | Bangkok Post: business