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Thailand - February 2008
Land prices in Southern Thailand leap 85.79%
by Robert Carry -
Thailand Property Report
The Treasury Department has revealed estimates that
suggest land prices in the south of Thailand have jumped
by a massive 85.79 percent against a nationwide increase
of 26.9 percent.
The Director-general of the Treasury Department, Puntip
Surathin, announced the land valuations for tax
calculations during the period 2008 to 2011. The
department reviews land valuations every four years and
evaluates 5.12 million plots in Bangkok and 3.32 million
plots upcountry. The department reaches the figures
published by collating the data recorded in its surveys
and taking into account the use the land is put to, as
well as the environment and economic conditions.
In stark contrast to the published price hikes in the
south, the average Bangkok land price increased by just
5.76 per cent. However, the values placed on land differed
greatly across various areas of the city, with prices
ranging from Bt260 per square nah in Nong Chok to Bt650
000 on Silom Road.
Among the provinces, land in Songkhla´s Hat Yai was valued
at Bt400 000 per square wah. Meanwhile, the Ranot district
was one of the cheapest places in the country to purchase
a plot of land, with prices estimated at just Bt15 per
square wah.
Prices were also on the increase in-and-around the
Northeastern province of Issan, with price hikes estimated
at a level of 22.97 per cent. A square wah in Khon Kaen´s
Muang district cost Bt200 000. However, there were again
variations within the region with land in Sakhon Nakhon´s
Song Dao district and Chaiyaphum´s Phakdi Chumpol district
priced at just Bt20.
Land in the North increased to an average price of 15.43
per cent, the most expensive being the Muang district of
Chiang Mai, which was priced at a high Bt250 000 per
square wah. However, land in Doi Tao, Mae Chaem, which is
in the same province as the northern city´s Muang
district, was estimated to be worth just Bt10 per square
wah.
In the central-eastern region, average land prices rose
11.71 per cent with the highest price recorded in the
Muang district of Samut Prakan at Bt140,000 per square wah.
The disparity within individual regions was again in
evidence, with land in the Sangkhla Buri district of
Kanchanaburi costing only Bt10 per cent square wah.
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