Ploenchit-Chidlom-Wireless Land Prices Soar; Embassy Plot Valued at 30 Billion Baht

Matichon•Economy•2h ago

Reader Briefing

Prime Bangkok land prices, particularly in Ploenchit-Chidlom-Wireless, are expected to continue their upward trend, with the Netherlands Embassy's freehold plot potentially reaching 30 billion baht.

•Land prices in Bangkok's inner city and along BTS lines remain high despite economic slowdowns and reduced purchasing power.
•The Ploenchit-Chidlom-Wireless area leads with land prices between 3-3.85 million baht per square wah, followed by early Sukhumvit and Silom-Sathorn.
•The Netherlands Embassy's 20-rais freehold land is anticipated to fetch 30 billion baht, averaging 3-3.5 million baht per square wah.

Overview

•Despite a general economic slowdown, high household debt, and reduced middle-to-lower income purchasing power, land prices in Bangkok's prime downtown areas and along the Skytrain are increasing.
•Major mixed-use developments like One Bangkok and Dusit Central Park, along with the Skytrain network, are driving demand for prime land.
•The Ploenchit-Chidlom-Wireless area boasts the highest land prices, ranging from 3 to 3.85 million baht per square wah.
•Early Sukhumvit land is valued at 2.5-2.8 million baht per square wah, while Silom-Sathorn is priced at 2-2.7 million baht per square wah.
•Pattharachai Thaveevong stated that prime downtown land prices are high and unlikely to fall.
•Numerous land plots are available on the market, but transactions for large plots exceeding Sansiri's 3.9 million baht per square wah purchase in Sarasin have not yet occurred.
•The Netherlands Embassy's 20-rais freehold land is projected to reach a value of 30 billion baht, with an average price of 3-3.5 million baht per square wah and total project development exceeding 100 billion baht.
•A 5-rai freehold land plot in Chinatown, owned by an old family, is on the market with a transaction price of 1.5 million baht per square wah.

Full article content is available on the original source.

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Source: Matichon (Original)

Key Quotes

Pattharachai Thaveevong

"Prime downtown land prices remain quite high and show no signs of decreasing."

ราคาที่ดินใจกลางเมืองยังคงอยู่ในระดับที่ค่อนข้างสูงและไม่มีทีท่าว่าจะปรับลดลง

Pattharachai Thaveevong

"Currently, there is a lot of land on the market, but no buyers, and no large deals have been closed above the 3.9 million baht per square wah Sansiri acquired in Sarasin."

ตอนนี้มีที่ดินออกขายสู่ตลาดมาก แต่ยังไม่มีผู้ซื้อ และยังไม่มีการปิดดีลซื้อขายแปลงใหญ่และสูงกว่าราคาที่แสนสิริซื้อที่ย่านสารสินไป 3.9 ล้านบาทต่อตารางวา

Key Entities

Person

Pattharachai Thaveevong(ภัทรชัย ทวีวงศ์)

Director of Research and Communications at Colliers Thailand, who provided analysis on Bangkok land prices.

Organization

Colliers Thailand(บริษัท คอลลิเออร์ส ประเทศไทย จำกัด)ℹ️

Real estate consulting firm providing expert analysis on market trends.

Sansiri(แสนสิริ)ℹ️

A real estate developer referenced for a previous land purchase in Sarasin at 3.9 million baht per square wah.

Prachachat Business(ประชาชาติธุรกิจ)

The media outlet from which the news article originated.

Place

One Bangkok(วันแบงค็อก)

A large-scale mixed-use development project in Bangkok driving land value.

Dusit Central Park(ดุสิต เซ็นทรัล พาร์ค)

A mixed-use development project in Bangkok contributing to land value appreciation.

Netherlands Embassy(สถานทูตเนเธอร์แลนด์)ℹ️

The location of a significant freehold land plot in Bangkok being sold for an estimated 30 billion baht.

Chinatown(เยาวราช)ℹ️

A district in Bangkok where a 5-rai freehold land plot is being offered for sale.