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Asean Transport Link Plans Set To Boost Bangkok Property Prices

By on Mar 02, 2016 in Property News, Residential

In Bangkok, land and property prices close to the mass-transit system in Bangkok have increased near to the existing BTS Skytrain and MRT underground rail routes and the new mass transit routes planned to be completed over 2016/2017. The routes are from Bang Sue to Bang Yai, and the Blue Line from Bang Sue to Tha Pra.  From the latest figures by the Treasury department for 2016-2020 land prices across Thailand are on average 27.7% higher than its previous appraisal.

The highest sold price for 3 rai of land was on Chidlom Road at THB 1.9 million per square wah. The plot was bought by SC Asset Corp and the plan is to build luxury condominiums. Currently, the average price of a condo in the area is THB 88,000 per square metre. Up from THB 66, 360 in 2011.

In time the provinces should benefit from improved transport links. The Thai government is planning to build a rail system to Khon Kaen which may then link with the Northeast of the Kingdom. CP Land’s president and chief executive officer, Sunthorn Arunanondchai said, “Land prices in the Southern, Northern, Eastern and North Eastern provinces of Thailand located close to major transit routes have seen land prices rising since the beginning of last year, compared with when we started to buy land around the country for expanding our business 5 years ago.”

Other countries in Asean have also seen land prices rising due to government investment in major infrastructure projects. For example, in Vietnam property prices along Ho Chi Minh city’s proposed metro lines have risen steeply. This is according to a report by the Vietnam News Agency.

In Laos investment to develop the railway system could turn this landlocked nation into a critical land link. A joint venture between the Lao government and its Chinese counterpart plans to construct a high-speed rail route from Vietnam to Boten over a distance of 417km. The rail line will link Kunming in China all the way down to Singapore, passing through Laos.

Source: The Nation, February 26th 2016
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