The Bang Phli-Bang Bo-Bang Sao Ton cluster in Samut Prakan was the hottest zone in Greater Bangkok in 2022, with land prices rising the most in the last two quarters of the year. There are also the newest low-rise buildings in the area.
According to the Real Estate Information Center (REIC), the number of low-rise buildings commissioned in Bang Phli-Bang Bo-Bang Sao Tong district in the first nine months of 2022 amounted to 8,169 units worth 64.2 billion baht, which is the largest indicator in Greater Bangkok.
The number of units and the cost accounted for 20.8% and 23%, respectively, of the total number of new low-rise buildings in Greater Bangkok during this period.
Some of the projects in this area have been developed as joint projects with developers and investors from Japan and Hong Kong.
One of them was the lace legend Bangna-Suvarnabhumi, a project of detached luxury villas, worth 6.3-billion-baht Bang Phli, developed by the property of Ideal PLC and Hong Kong Land.
The other was Britania Bang Na, a project consisting of detached mansions, duplexes and townhouses with a total value of 2.6 billion baht in Bang Phli, which was a joint venture of Britania Plc and Nomura Real Estate.
Next year, a new project of townhouses and duplexes will be launched in Bang Bo, which is a joint project of Thanasiri Plc and the Japanese real estate firm Anabuki KosanInc.
According to REIC, the place where the absorption rate of low-rise buildings was the highest in the third quarter was Bang Phli-Bang Bo-Bang Sao Ton at 3.5 units per month, which is higher than the average for Greater Bangkok (3.2).
Since Bang Phli-Bang Bo-Bang Sao Tong was attractive both for housing developers, there are a lot of vacant land for development in this area.
According to REIC, the year-on-year increase in prices for vacant land in Bang Phli-Bang Bo-Bang Sao Tong in the second quarter was 40.5%. The increase in land prices in the vicinity of Bangkok is insignificant, and prices remain low, suitable for the development of low-rise projects.