Guest fountainhall Posted December 3, 2011 Posted December 3, 2011 The latest survey by the independent consultancy firm, the Agency for Real Estate Affairs (AREA), shows that prices of land in those areas of Bangkok not affected by the flooding have, not surprisingly, surged. This is particularly true for areas near a Skytrain station and lower Sukhumvit, where prices are estimated to have risen 17% in the last 12 months. Consequently, those considering buying apartments in Bangkok will find that prices in the dry areas are quickly becoming more expensive. Apart from Siam Square, the land price has also gone up in areas such as Wireless, Silom and Rajdamri roads to Bt1.1 million per square wah. Areas along Sathon Road are priced at Bt1 million per square wah. Sophon said the surveyed land was evaluated according to market price and not the appraisals of the Treasury Department for land registration. However, the evaluated prices might be lower than those set for sale at inflated prices. For some plots of land, sellers could be seen demanding as much as Bt2 million per square wah . . . "The agency believes that land prices will not fall as a result of the floods because there is no evidence that disasters - such as the severe floods in 1995 and the floods in Hat Yai last year - had lowered land prices," AREA President Sophon Pornchokchai said. http://www.nationmultimedia.com/business/Land-prices-rise-sharply-after-floods-30171182.html Khun Sophon may think the floods will not affect prices in the flood areas, but it is surely nonsensical to compare the floods of 1995 with those of 2011. I suspect a lot of Thais wanting to buy and rent will be looking much more closely at those areas which stayed dry, thereby pushing prices up further. Quote
