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Land appraisal prices, condominium valuations in Bangkok to rise 2012

Land appraisal prices and condominium valuations will rise in the next revision to take effect in 2012, according to the Treasury Department.

Land appraisal prices will rise 15-30 per cent while condominium valuations will increase by 15 per cent. Especially prime locations with good access to mass transit lines such as those on Sathorn, Sukhumvit and Ratchadamri have an average price of THB100,000 (US$3,300) per sqm, while other developments along the BTS and MRT will be valued at around THB70,000 (US$2,300) per sqm.

According to data from the Real Estate Information Center, the Bangkok condominium price index rose 7.04 per cent year-on-year in the first half, compared to 2.82 per cent in the second half of last year. The townhouse price index increased 3.55 per cent against a 0.98 per cent rise in the second half of last year, and the single house index inched up 1.79 per cent from 1.03 per cent. The highest jump in appraisals would be along the new purple line between Bang Sue and Bang Yai.

According to the Bangkok Post, Chucheep Jitumpai, director of the Treasury Department’s bureau of property valuation, said that and valuations rose in line with infrastructure development, particularly both new and extended mass transit-routes.

Source: Property Report

ThaiVest Editorial Team