Bangkok's highest land prices are in the Siam Square and Phloenchit Road areas at a record 1.5 million baht per square wah or 600 million baht a rai, while overall land prices in the city have risen by 3.7% in the past year, says a new survey by the Agency for Real Estate Affairs (AREA).
Prices in the two areas have increased from 1.4 million baht per square wah last December.
The areas around Witthayu Road and Sukhumvit Sois 1-21 are the second most pricey at 1.3 million baht per sq w, while the Silom-Ratchadamri area is third at 1.25 million baht per sq w.
The lowest land value in Greater Bangkok is in the areas around Liap Khlong 13 Road at 2,500 baht per sq w or 1 million a rai, while areas near the Bangsai Arts and Crafts Center is next cheapest at 4,600 baht per sq w or 1.84 million a rai.
The AREA reported that land around The Mall Bangkae has increased the most in one year, by 33.3% to 140,000 baht per sq w. Land around Liap Khlong 13 Road has fallen the most in five years, from 3,500 to 2,500 baht per sq w.
AREA president Sopon Pornchokchai said areas near public transport and in central Bangkok have experienced an exceptionally high land value increase.
Land near the On Nut-Bearing skytrain extension line had the highest land value increase in one year at 14.9%, while land values near the subway's Blue Line rose by 14% and near the Purple Line by 11.5%.