Surging land value sends price of Bangkok condos soaring

[reader]

From The Nation

Soaring land prices in Bangkok’s central business district have resulted in record high prices for new high-end condos, real estate consultant Property DNA said on Monday.

“This year we have seen more new condo projects opening at more than a quarter million baht per square metre, while back in 2019 this kind of price was rare,” said Surachet Kongcheep, the firm’s managing director.

These ultra-luxury condo projects are located in areas such as Rama I, Phloen Chit, Wireless Road, Silom, Sathorn, Rama IV, certain sections of Sukhumvit Road, and by the Chao Phraya River, he said.

Buyers are snapping up these units quickly despite the high prices, with some projects reporting 65-85% bookings, he added.

High-rise condos located near Lumpini Park are especially popular thanks to rare views of the city’s oasis, while a lack of nearby train stations is not a dealbreaker as many buyers prefer privacy over convenience.

Surachet also predicted top prices for new luxury condos will soon rise to 600 million baht per unit, as giant developers pay record prices for empty plots in prime CBD locations.

“Thai and foreign buyers have already shown interest in these projects despite the sales not officially starting yet,” he said. “Developers have also teamed up with operators of five-star hotels in supervising the projects, thus further increasing their value and prices.”

[macaroni21]

What happens when Bangkok sinks into the sea?

"... Greenpeace says almost all of Bangkok will be vulnerable to floods in the scenario of an extreme sea level rise by 2030. Under this extreme projection about 96% of the city will be below the mean sea level."

https://www.bangkokpost.com/thailand/general/2499786/bangkok-is-still-sinking-and-fast-

Of course, Greenpeace tends to focus on the extreme scenario, but nobody (outside of the lunatic fringe) disputes the fact that Bangkok is subsiding and sea levels are rising.

[KeepItReal]

17 minutes ago, macaroni21 said:

What happens when Bangkok sinks into the sea?

"... Greenpeace says almost all of Bangkok will be vulnerable to floods in the scenario of an extreme sea level rise by 2030. Under this extreme projection about 96% of the city will be below the mean sea level."

https://www.bangkokpost.com/thailand/general/2499786/bangkok-is-still-sinking-and-fast-

Of course, Greenpeace tends to focus on the extreme scenario, but nobody (outside of the lunatic fringe) disputes the fact that Bangkok is subsiding and sea levels are rising.

All major cities exposed to flooding will have to do the same thing: set up a sinking fund! And I mean that literally! 😆 (Sorry, accountant humor is a weakness of mine!)

[reader]

2 hours ago, macaroni21 said:

What happens when Bangkok sinks into the sea?

And what if it doesn't?

The Netherlands figured it out.