Urban Expansion: Bangkok's Real Estate Boom

According to the Real Estate Information Center of the Government Housing Bank, here are the five most expensive land locations in the suburbs during the first quarter of 2023:

Nakhon Pathom Province: With an astonishing price change rate of 68.2%, it takes the top spot.

Bang Phli-Bang Bo-Bang Sao Thong Zone: Witnessed a continuous increase with a price change rate of 52.4%.

Samut Sakhon Province: Experienced a price change rate of 39.1% and secured the third position.

Muang Pathum Thani – Lat Lum Kaew – Sam Khok Zone: Registered a price change rate of 28.7% and ranked fourth.

Nonthaburi – Pak Kret Zone: Noteworthy growth of 25.7% compared to the first quarter of 2022.

The slower increase in land prices in the inner city and middle areas of Bangkok can be attributed to the economic slowdown and inflation rate rise in March 2023. However, land in the outskirts of Bangkok and its vicinity has shown higher trading potential due to its lower price base. The demand for land in suburban areas has surged, resulting in higher rates of change compared to the inner and middle areas of Bangkok.

Additionally, the study also examined the growth of land prices along the routes of the BTS and MRT Lines. Notably, the top five routes with the highest land price growth rates compared to the same period in 2022 were:

Purple Line (Bang Yai – Tao Poon): Opened for service and witnessed a 9.8% increase in land prices.

Green Line (Khu Khot – Lam Luk Ka): A future project with a 9.2% increase in land prices.

Green Line (Mo Chit – Saphan Mai – Khu Khot) and Dark Red Line (Bang Sue – TU Rangsit): Both saw a 7.8% increase in land prices.

MRT (Chatuchak – Huai Khwang) and Dark Red Line (Bang Sue – Hua Lamphong): Experienced a 7.5% increase in land prices.

Dark Red Line (Hua Lamphong – Maha Chai): A future project that witnessed a 6.4% increase in land prices.