Thailand ViewPoint: 30 Years of the Bangkok Land Market
11 Jul 2018
Bangkok Land Prices Increase 1,000% in 30 Years
Land prices in Central Bangkok have increased by 1,000% since 1988 when CBRE established an office in Bangkok 30 years ago.
Land prices rose dramatically during the Asian Tiger boom years from 1988-1996 before the market came to a grinding halt in the 1997 financial crisis.
Land price growth resumed in the early 2000s and there has been a rapid escalation of prices over the past two years for prime central business district (CBD) sites.
Two landmark transactions in the late 1980s were the acquisition of an 8-rai (3.17-acre) site on Sathorn by the original developer of Empire Tower for around THB 125,000 per square wah and the acquisition of a 21-1-08 rai (8.5-acre) site on Wireless Road, which was then the Standard Chartered Bank manager’s house, by the M Thai Group for around THB 250,000 per square wah which is now the All Seasons Place development.
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