Thong Lor-Asoke area sees rise in land prices

The Nation - - BUSINESS -

Land price in the Thong Lor to Asoke area has risen dur­ing the past seven years, ac­cord­ing to Nexus Prop­erty Mar­ket­ing.

Most of the land plots trans­acted in this lo­ca­tion were de­vel­oped as res­i­den­tial projects, in­clud­ing con­do­minium and rental res­i­dences such as ser­viced apart­ments or ho­tels. This lo­ca­tion is seen as one of the most stylish life­style lo­ca­tions for peo­ple in Bangkok, a fac­tor that has boosted the prices of res­i­dences.

Nal­in­rat Chare­on­suphong, the man­ag­ing di­rec­tor of Nexus Prop­erty Mar­ket­ing Co Ltd, said land prices in the Asoke to Thong Lor area had risen con­sis­tently, in­creas­ing on av­er­age 19 per cent a year dur­ing the past seven years, from around Bt350,000 per square wah to Bt1.01 mil­lion per square wah.

The up­ward price trend will con­tinue over the next two years, with an es­ti­mated in­crease of at least 10 per cent per year.

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