Most of the increases in the land price index were in locations that host mass transit lines and areas surrounding the terminal station of extension lines, particularly in Nong Khaem and Bang Kae districts. Some divested land plots to finance their core business which was hit by the pandemic.
He said one of the main reasons behind the slow growth in the land price index derived from some landlords holding land plots and waiting for the economic recovery. But the growth rate was lower than the five-year average for three consecutive quarters or since the first quarter of 2021 due to the economic fallout," he said.Īt the same time, the yearly increase in the land price index in Greater Bangkok was 7.6% in the third quarter, almost a half of the five-year average of 14.8% prior to the pandemic.
"Land prices continued rising despite the economic slowdown. The increase in the land price index in Greater Bangkok in the third quarter remained lower than the five-year average during the pre-Covid period.ĭespite the escalating trend, the increase in the land price index in Greater Bangkok in the third quarter remained lower than the five-year average during the pre-Covid period, according to the Real Estate Information Center (REIC).Īcting director-general Vichai Viratkapan said the quarterly rise in land price index in Greater Bangkok was only 0.5% in the third quarter, which was much lower than the five-year average of 4.1% during 2015-19.
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