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Thai-ASEAN News Network

New Land Valuation Announced; Bangkok's Silom Area Most Expensive

UPDATE : 29 December 2011

The Treasury Department has unveiled a new list of land valuation.

The average prices nationwide are now going up by 21.34 percent.

Bangkok's Silom District is the most expensive area soaring to 850,000 baht per square Wah.

Treasury Department Director-General Narit Chaiyasut said the average land price nationwide rose by 21.34 percent.


Land prices in the provinces went up by 21 percent, while those in Bangkok increased by 17.13 percent.

Bangkok's Silom area from Sala Daeng Intersection to Narathiwat Rajanakarin Intersection is the most expensive area assessed at 850,000 baht per square Wah, followed by Rajdamri area, from Ratchprasong Intersection to Saen Sab Canal, and Rama I area, from Pathumwan Intersection to Ploen Chit Road.

Land prices rise the most in Wattana, Klongtoey, Phra Khanong and Bang Na areas by an average 39.20 percent.

Chatuchak, Ladprao and Pravet saw the most modest change in land prices because valuation for the areas has been revised recently.

In the provinces, the average land prices went up by 14 percent in the North, 25 percent in the Northeast, 12.9 percent in the Central and 31 percent in the South.

A highest jump is in Narathiwat Province, with an average price shooting up by 141 percent due to its favorable economic environment.

Buri Rum and Trat provinces are among the runner-ups with 81 and 74 percent increases.

Meanwhile, Songkhla's Hat Yai District has the highest average land price of 400,000 baht per square Wah, compared to other provinces.

Land in Udon Thani's Baan Rai has the lowest price tag of just ten baht per square Wah, due to the fact that the area is used for farming and is inaccessible to vehicles.

Narit said his agency is surveying flood-hit areas and will present a report to provincial offices to re-evaluate land prices.

He expects the new valuation for such areas will be announced within January.

He added international standards are used as reference for the latest update of land valuation.

The actual market prices and factors such as geographical conditions, location, available infrastructure and transport systems and the quality of the environment, as well as urban development regulations were taken into the consideration.

This is to ensure the most accurate and reliable valuation.

The Treasury Department head also revealed that his agency is planning to conduct valuation of additional 23 million land plots in the next eight years.