Check the cheapest and most expensive lands in Bangkok

Lands in Bangkok and the Metropolitan Region have continued to raise prices due to the activation of new electric trains. This time, ACU PAY will update the prices of the cheapest and most expensive land in Bangkok based on data from the year 2023. Let’s take a look!

10 The Most Expensive Land Location in 2024

According to the Thai Real Estate Research and Evaluation Information Center, Agency for Real Estate Affairs Co., Ltd. (AREA), land prices in Bangkok and metropolitan areas are now around 20 – 36% higher than the appraised value of the Treasury Department, and it is increasing every year. In 2023, there was an average increase of 4% for the top 10 locations with the expensive land prices as follows:

Siam Square, Chidlom, and Ploenchit: The land price is 3.6 million baht/square wa
Witthayu: The land price is 2.95 million baht/square wa
Sukhumvit-Times Square: The land price is 2.8 million baht/square wa
Sukhumvit 21-Asok: The land price is 2.6 million baht/square wa
Silom: The land price is 2.55 million baht/square wa
Sathorn: The land price is 2.25 million baht/square wa
Sukhumvit-Ekkamai: The land price is 1.85 million baht/square wa
Yaowarat: The land price is 1.8 million baht/square wa
Phaya Thai: The land price is 1.75 million baht/square wa
Phahonyothin: The land price is 1.7 million baht/square wa

10 The Cheapest Land Location in 2024

The 10 cheapest land sites are located in remote areas, with no infrastructure projects, few residential projects, and they are still agricultural areas as follows

Along Rangsit Road, Khlong 13, km.5: The land price is 3,900 baht/square wa
Across from the Arts and Crafts Center: The land price is 7,600 baht/square wa
Kanchanaphisek, eastern section, km. 34: The land price is 8,500 baht/square wa
Kanchanaphisek, eastern section, km.8 (Bang Khan-Wang Noi): The land price is 9,100 baht/square wa
Sukhumvit Km. 46 (Bang Bo): The land price is 9,500 baht/square wa
Along Raphiphat Canal: The land price is 9,600 baht/square wa
Rangsit-Wang Noi: The land price is 10,000 baht/square wa
Lam Toiting: The land price is 10,000 baht/square wa
Pracha Samran: The land price is 11,000 baht/square wa
Rangsit-Nakhon Nayok Km.37 Klong 14, Kanchanaphisek, eastern section, km.27 (Lam Luk Ka), and Kanchanaphisek, eastern section, km.23 (Luang Phaeng): The land price is 13,000 baht/square wa

In 2014, it is expected that land prices will increase by an average of 3-5 % on the activation of the new electric train.

Factors affecting land prices

Location: Land that is located in a good location close to convenience facilities such as BTS or MRT, workplaces, and communities, as a result, makes land prices often high.
Economic Situation: The strong economic growth has boosted demand for residential property and investment in real estate, resulting in higher land prices.
Government Policy: For example, the policy rate may be adjusted upward by the Monetary Policy Committee (MPC), taxation on land and buildings, etc. affects both positive and negative land prices.

Land prices in Bangkok and metropolitan areas are expected to rise steadily but at a slower pace due to negative factors affecting consumer and business purchasing power such as higher interest rates, trade wars, rising household debt, and the global economic slowdown.