The Ministry of Finance is preparing to publish an announcement on new estimated values of land plots and buildings. The new prices will be used during 2023-2026, starting from January 1, 2023. The revaluation was carried out for the first time in 3 years since it was not carried out in 2020 due to the COVID-19 crisis.
In this regard, the cost of land in 2023-2026 was adjusted compared to the previous period in 2016-2019, an average increase of 8.93%.
Places with the highest land valuation prices in Bangkok:
- No. 1 — Silom (Rama IV — Narathiwat Ratchanakarin), price — 1,000,000 baht per watt (1 va is approximately equal to 2 m2)
- Plonchit — 1,000,000 baht
- Ratchadamri — 900,000 baht
- Sathorn — 800,000 baht for
- Sukhumvit — 750,000 baht
- Yaovarat — 700,000 baht
The average land price has increased the most in Bangkok. The price increased the most in the Huai Hwang area (increased by 21.46%) due to the opening of a new branch of Orange Line electric trains.