Bangkok Land Price Index in Q2/2020 Soars Over 30% Along Green Line, Leading for Five Consecutive Quarters
The index for undeveloped land prices in Bangkok and its vicinity in Q2 2020, particularly along the northern Green Line, has recorded the highest price increase for five consecutive quarters.
On July 23, 2020, Dr. Vichai Viratakpan, the inspector of the Government Housing Bank and acting director of the Real Estate Information Center, revealed that the Real Estate Information Center of the Government Housing Bank reported that the undeveloped land price index in Bangkok and its vicinity for Q2 2020 stood at 308.6, marking a 5.2% increase compared to the previous quarter (QoQ), which had an index of 293.3, and a 30.3% increase compared to the same period last year (YoY), which had an index of 236.9.
The increase in the undeveloped land price index this quarter was primarily driven by locations at the ends of the subway lines that are part of extensions and have future construction plans.
The top five locations along subway routes that experienced the highest land price growth compared to the same period last year (YoY) are as follows:
1. Northern Green Line (Kukot - Lam Luk Ka) is a subway route that has not yet begun construction, which is an extension of the Green Line. In Q2 2020, it opened four stations: Forest Department Station, Bang Bua Station, 11th Infantry Regiment Station, and Wat Phra Si Mahathat Station, resulting in a land price growth rate of 61.4%, making it the location with the highest land price increase for five consecutive quarters.
2. Pink Line (Krairai - Min Buri) is a subway route currently under construction, with overall construction progress at 57%, showing a land price growth rate of 53.6%.
3. Blue Line (Bang Khae - Phutthamonthon Sai 4) is a project planned for future construction, with a land price growth rate of 28.5%.
4. Light Red Line (Taling Chan - Salaya) is also a project planned for future construction, with a land price growth rate of 26.5%.
5. Southern Green Line (Samut Prakan - Bang Pu) is a project planned for future construction, and the Southern Green Line (Bearing - Samut Prakan), which has been completed and opened for service, both show a land price growth rate of 23.1%.
