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Bangkok Property – Purple Line gives massive boost to land prices

Land prices on the Bangkok-Nonthaburi road have tripled since 2010, on the back of construction of the extended Purple Line mass-transit rail line from Bang Sue-Bang Yai, which is set to be completed next year.  Some 10 condominium projects have been launched in this location since 2011, comprising up to 10,000 units worth more than Bt50 billion combined.  Condominium prices in the area have also increased, by an annual average of 20 per cent in the same period, a survey by The Nation found early this week.

Popular condos in this location are available for between Bt2 million and Bt5 million per unit. The most popular type is a one-bedroom unit with usable space of 25-30 square metres.

“When the Purple Line is completed and ready to use in 2015, demand to buy condominiums in this location will be even stronger than now – and will also boost current resale prices by between 10 per cent and 20 per cent,” predicted a source engaged in condo resales.

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