The battle for the title of Thailand’s most expensive land has intensified with the Kingdom’s Treasury Department naming Silom, with average prices of THB 1 million per sq wah (equivalent to four square metres), as the priciest in its latest round of appraisals.
This news comes less than two years after Thailand’s Agency for Real Estate Affairs (AREA) revealed Siam Square was home to the Kingdom’s most expensive land, with prices of THB 1.65 million per sq wah.
New land appraisal prices across Thailand for the period between 2016 and 2019 are up 27.8 percent from the levels set during 2012, according to the figures.
Treasury Department Director General Chakkrit Parapuntakul told the media that average land prices in Bangkok are up 15.8 percent since its last review, while those in the provinces increased by 27.9 percent during the same period.
The highest appraised price, he said, was on Silom Road from Soi Sala Daeng to Narathiwat Road while other high prices in Thailand’s capital are listed as being on Ratchadamri Road between the Ratchaprasong intersection and Khlong Saen Saep, on Rama I Road between the Pathumwan and Ratchaprasong intersections, and all of Phloenchit Road.
Elsewhere, the southern district of Hat Yai was revealed as being the most expensive outside Bangkok with land appraised at THB 400,000 per sq wah. Central Chiang Mai, at THB 250,000 per sq wah, and Pattaya Beach Road, at THB 220,000 baht per sq wah, were also mentioned as notably expensive land prices outside the capital.