Land Prices In Pattaya Have Increased 150-200%!

[Pattaya Daily News]

Land prices in Bangkok are booming! Currently the land price in Sukhumvit area has increased to 2 million per square wah and the Jomtein area in Pattaya has increased 150-200%.

Mr. Chana Nuntachantoon , Managing Director of Century 21 realty affiliates (Thailand) co. ltd claims that in the next 1-2 years sales of land plots near the BTS will rise as high as 2 million per square wah. The condominium projects will have a starting price of 1.8-2 hundred thousand per square meter. Major real estate developers rush to buy land in many cities, this has resulted in land price increasing to more than 100%.

Although economic conditions are volatile but the land price on the skytrain areas continues to grow rapidly. Currently, land in Soi Sukhumvit 55 started at $ 1.3 million per square wah and now the company is negotiating to buy the land at the beginning of Sukhumvit which is 1.8 million square wah.

Moreover, due to the increase land price in the city area, this has pressurized large investors to start investing in other provincial areas to generate more growth in sales and revenue. This has also resulted in increased land price in these areas.

Mr.Uthai Uthaisaengsuk, Senior Executive Vice President of Business Development & Project Development Division (High Rise) at Sansiri Public Co. claims that the land price in other provinces are rising constantly i.e. Phitsanulok and Petchaboon have risen 100%, Cha-am 60-100% Jomtien land price has increased drastically to about 150-200%.

Mr. Phairat Monthaphan, President of Valuers Association of Thailand explained that the developer should not be excited about the upcoming high-speed rail project and should not predict land price yet. They should wait for the speed rail route and stopping destination first because that could affect the land price.

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[6853395]

How many square meters in a wah?

[losworld]

This is Thailand so in my opinion what they are asking is not necessarily indicative of market forces and will be adjusted accordingly in the near future.

[6853395]

How many square meters in a wah?

 

1 sq. wah = 4 sq. m.

 

Land Measurement in Thailand

[Edge]

How many square meters in a wah?

 

2 metres in a Wah - 4 square metres in a Talang(Square) Wah.

 

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[EarlyStarter]

This is Thailand so in my opinion what they are asking is not necessarily indicative of market forces and will be adjusted accordingly in the near future.

 

I agree, the entire economy is less regulated and a correction will come. I expect it will be a drastic adjustment beginning with the arse falling out of the housing market and adjusting upwards from there

[6853395]

No one neither knows, nor may predict, what will happen.

 

It'll be interesting to see how this pans out.

[losworld]

I agree, the entire economy is less regulated and a correction will come. I expect it will be a drastic adjustment beginning with the arse falling out of the housing market and adjusting upwards from there

 

Yes a big bubble in real estate here.  Now add into the equation all the Thais buying autos they cannot afford because of the govt "no tax" program.  It will be a domino effect coming soon.  I think areas of Isaan are so overpriced it is ridiculous such as khon kaen.  I am not saying in relation to bk but in accordance with historic averages.  The govt can only prop this up for so long before the shit hits the fan. However, this silly govt must recognize more debt in the form of more cars congesting the roads is not the answer.

[Edge]

.......................I expect it will be a drastic adjustment beginning with the arse falling out of the housing market and adjusting upwards from there

 

 

Yes a big bubble in real estate here.  ...............................

 

Land prices (thread title) I suspect will not collapse?

 

House prices don't look that over egged from what I've looked at.

 

The bubble most likely to burst and most likely to affect farang is surely the high priced Condo' market, where so much of the value seems to be in the limited life furnishings and where there appears to be over supply.

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