Siam-Chitlom-Ploenchit have the highest price of real estate

Bangkok, April 27 (TNA) - Thailand's Agency of Real Estate Affairs (AREA) has predicted that real estate prices since 2015 has risen 3.2 per cent, with property prices in Siam, Chitlom, Ploenchit districts as high as 475,000 baht per sq.m., where lands in Lam Luk Ka district has the lowest price of 625 baht per sq.m. AREA President Sophon Pornchokechai revealed that a survey on property prices in Bangkok and peripheral areas showed an increase of about 3.2 per cent from last year, which is considered a decreasing growth rate due mainly to the sluggish economy. The properties with the highest price are located in the areas of Siam Square, Chitlom and Ploenchit at 475,000 baht per sq.m., as the locations are situated in the heart of city with easy access to the sky train, and the highest potential for retail businesses to expand. Silom district followed closely with the price of land standing at 400,000 baht per sq.m., Yaowarat's properties at 300,000 baht per sq.m., where the price is expected to skyrocket after the construction of an MRT line at Charoen Krung is completed. The lowest price of land is located along the Klong 13 of Lam Luk Ka district, with land pricing as low as 625 baht per sq.m. due to lack of utility projects in the area. Popular lands for the year include, those located in the special economic zones or provinces connected to neighbouring countries, as well as tourist city such as Phuket, and Pattaya. Industrial cities with plans to develop new industrial estates are also becoming of more interests to buyers, as they have high growth potential, even higher than Bangkok. (TNA)