Land prices in Huai Khwang in central Bangkok had the highest rises in the city according to a new assessment, says Treasury Department director-general Chamroen Phothiyod.
The newly assessed land prices nationwide are to be used from Jan 1, 2023 until Dec 31, 2026.
Land prices nationwide increased by 8.93% from the prices used during 2016-19.
Mr Chamroen said in Bangkok, land prices in the Huai Khwang zone rose 21.5% from the previous price, while those on Wireless Road from Phloenchit to Khlong Saen Saep doubled to 1 million baht per square wah.
Land plots priced 1 million baht per sq wah in Bangkok include those on Silom Road and the zone from Rama IV Road to Narathiwat Rajanagarindra Road, which remains unchanged from the previous assessment.
Plots on Phloenchit Road from Ratchadamri Road to Chalerm Maha Nakhon Expressway rose 11.1% to 1 million baht per sq wah from 900,000 baht.
The land price on Rama I Road from Ratchadamri Road to Phayathai Road also rose 11.1% to 1 million baht from 900,000 baht, while land on Wireless Road from Rama IV Road to Phloenchit Road surged to 1 million baht from 750,000 baht, up 33.3%.
During the pandemic, the department did not enforce the new land assessment prices that were supposed to start from 2020, using prices from 2016-19 to ease the burden of landowners who have to pay related tax based on land prices.
Mr Chamroen said the number of land plots nationwide increased to 33.4 million plots from 31 million plots earlier as landowners divided their lands into many plots.