Bangkok Land Offers Abound, Tycoons Cut Prices by 50%
Matichon•Economy•
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Source: Matichon (Original)
Key Quotes
"Some plots want to close deals quickly, reducing prices for land both in and out of the city. For example, the Sukhumvit area near BTS Punnawithi advertised over 7 rai, reducing the price from 1.3 million baht/sq.w. to 1 million baht/sq.w."
บางแปลงต้องการปิดดีลเร็ว จะลดราคาลง ทั้งที่ดินในเมืองและรอบนอก เช่น ย่านสุขุมวิทใกล้บีทีเอสปุณณวิถี ประกาศขายกว่า 7 ไร่ ลดราคาจาก ตร.ว.ละ 1.3 ล้านบาท หรือไร่ละ 520 ล้านบาท เหลือ 1 ล้านบาทต่อ ตร.ว. หรือไร่ละ 400 ล้านบาท
"This is the first time in 30 years that land prices have dropped 30-50%, since the Tom Yum Kung crisis when land prices fell 20-30%."
ถือเป็นครั้งแรกรอบ 30 ปีที่มีการลดราคาที่ดิน 30-50% นับจากวิกฤตต้มยำกุ้งที่ที่ดินลดราคาลง 20-30%
"People with idle cash are accepting land mortgages because they get better interest than depositing money in banks. If the landowner cannot redeem it, the asset can be seized."
คนมีเงินเย็นจะรับขายฝากจำนองที่ดิน เพราะได้ดอกเบี้ยดีกว่านำเงินไปฝากแบงก์ ถ้าเจ้าของที่ดินไม่มีเงินมาไถ่ถอนคืนก็ยึดเป็นทรัพย์สินได้
Key Entities
Person
Wasant Kongchanan(นายวสันต์ คงจันทร์)
President of the Real Estate Sales and Marketing Association, serving as a source on the Bangkok land market.
Organization
Real Estate Sales and Marketing Association(สมาคมการขายและการตลาดอสังหาริมทรัพย์)
An association providing insights into the current state of the Thai real estate market.
A leading real estate developer in Thailand with sufficient capital to purchase land in the current market.
A major Thai real estate developer identified as one of the few with the capacity to buy land.
A Thai real estate developer among the few with financial strength to acquire land.
A real estate firm identified as one of the few major developers capable of land acquisition.
Place
The capital city of Thailand, where land offerings are abundant but deals are scarce.
Metropolitan Area(ปริมณฑล)
Region surrounding Bangkok where land sales are also experiencing a slowdown.
A prime area in Bangkok where land prices have been significantly reduced.
BTS Punnawithi(บีทีเอสปุณณวิถี)
A Skytrain station in Bangkok, near a land parcel being sold at a reduced price.
Thong Lo(ทองหล่อ)
A neighborhood in Bangkok with existing land offerings whose prices have been adjusted downwards.
Bang Khae(บางแค)
An outer district of Bangkok where land prices have seen a substantial decrease over recent years.
Bang Na Intersection(แยกบางนา)
A developing area in Bangkok, highlighted for its mixed-use potential with the Bangkok Mall.
New Krungthep Kretha Road(กรุงเทพกรีฑาตัดใหม่)
An emerging luxury housing area near an airport and international schools, identified as a selective location for development.
Srinakarin(ศรีนครินทร์)
A road and area in Bangkok, identified as a selective location for development, particularly for halal-oriented communities.
An area in Bangkok, along with Srinakarin and Min Buri, focusing on development for the halal market.
Min Buri(มีนบุรี)
A district in Bangkok identified as a 'halal area' for real estate development.
A popular tourist city identified as a selective location for foreign residents and second home purchases.
A coastal resort town in Thailand, targeted for development as a location for foreign residents and second homes.
A major island province in Thailand, recognized as a selective location for foreign buyers and second home owners.
A popular island in Thailand's Gulf of Thailand, designated for development catering to foreign residents and second-home buyers.
Law
Land and Building Tax(ภาษีที่ดินและสิ่งปลูกสร้าง)
A tax regulation in Thailand contributing to developers' decisions to pause investments and sell land.