New land valuations likely to rise by 20% on average

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PROPERTY

New land valuations likely to rise by 20% on average

Published: 14/11/2011 at 08:19 AM
Newspaper section: Business

The Treasury Department is preparing to announce an average increase of 20% in land valuations nationwide but it has not yet taken the impact from current flooding into account, says director-general Naris Chaiyasoot.

However, officials suggested the floods may give property developers an opportunity to buy land at lower cost in some areas where owners want to sell because they have faced flooding or fear future flood risk.

As well, general investors will see this as an opportunity to acquire cheap land to sell at a profit in the future.

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About the author

: Writer: Wichit Chantanusornsiri; Position: Business Reporter

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justfacts
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Discussion 1 : 14/11/2011 at 07:56 AM1
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"However, officials suggested the floods may give property developers an opportunity to buy land at lower cost in some areas where owners want to sell because they have faced flooding or fear future flood risk."

So the developers can make the profit from selling to homeowners who will face floods in the future....another case of mai pen rai...I made my money ...not my problem anymore...
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New land valuations likely to rise by 20% on average | Bangkok Post: business