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Thailand Property – Land prices soar in Khon Kaen, Udon

By on Jan 06, 2014 in Investment-Land, Property News

Thailand property land prices in Khon Kaen and Udon Thani are flaring up more than 30 per cent this year as many developers expand into the two strategically-located northeastern provinces.

Att Attanont, deputy director-general of the Legal Execution Department, said last week that the government initiated early this year a policy to invest Bt2 trillion in the country’s infrastructure. Some of the projects will be in the Northeast, like the double-track railroad connecting the region to Bangkok and neighbouring countries, especially Laos. This will open up the North-East Corridor linking Thailand with Laos and Vietnam.

Leading property firms have moved into Khon Kaen and Udon Thani this year to cash in on the policy, which is expected to stimulate the regional economy.

The strong demand for land to develop residential projects has boosted prices in Muang district and around the district from an average of Bt10,000 per square wah last year to Bt20,000-Bt30,000, depending on the proximity to the central business district.

Land prices in Udon Thani also jumped 40-100 per cent this year after the government revealed plans to lay a double track railroad to the province that will link to Nong Khai and further to Vientiane in Laos, said Komkrit Suksathian, director of the Legal Execution Office in Udon Thani. Udon Thani will become the gateway to Laos because the province now has the infrastructure and facilities to support the activities of local and foreign investors. Land prices have doubled to Bt1 million per rai.

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