Bangkok Property Market

Prices of land in and around Bangkok varies markedly depending on zone and location. Even within the same zone price varies depending on distance to main road or business center of that zone. To give you some idea; Baht 10,000 - 35,000 per sq. wah (4 m2) of land is considered reasonable price for land 25 kms outside Bangkok CBD in any direction in the present market. Of course if you're willing to locate
further out, the price will be cheaper. Condos are selling well and are good investments for resale. Bare land is overpriced.

Despite recent speculation that the latest residential property cycle in Bangkok may be coming to end, and a general slowdown in the economy, the latest report from property consultancy firm Agency for Real Estate Affairs (Area) shows that the market is still highly active now with 92 projects scheduled to be launched in the coming months.

Area's April report shows a steady increase in projections in the last six months. In December 2004, 72 new projects were scheduled for the following year. This increased to 72 in March. However, due to recent building permit delays, not all developers will necessarily finish their projects on time.

Given that in the period between December and April 111 projects offering 16,872 property units worth B56.14 billion were launched, a slowdown is now apparent. The report showed that fewer high-end condominiums are now being launched in the CBD, due to a drop in demand, and that developers are now looking further afield with north Bangkok and areas around the West bank of the Chao Phraya proving particularly popular.