As new branches of the monorail are built, investors should invest more often in real estate in the suburbs of Bangkok. With the increase in transport accessibility, its price may increase significantly, according to real estate experts from Singapore.
One example was the construction of MRT Yellow Line, which was launched in the summer of 2023. Since the start of construction of the yellow line in 2017, the price of land plots next to the monorail has steadily increased and now ranges from 239,000 to 956,000 baht (from $6,800 to up to $27,000) per square meter. The increase in land prices ranged from 60% to 140%, depending on the specific area.
At the same time, experts note, the Yellow Line passes through the main street of the city, on which there is simply no place for residential development - the territory adjacent to the monorail was built up by one commercial real estate for 30 years.
There are vacant lots in areas remote from the center, which were previously considered very inconvenient due to transport problems. As an example, experts call Kaset Nawamin-Ladprao. Due to the remoteness of the area from the center, the prices of non-real estate in it were greatly underestimated. But with the advent of two monorail lines, the area has become promising.
Now real estate prices are higher in just three central districts of the city: Sukhumvit, Silom and Sathorn. But there is already a trend in the local market to move away from the city center to suburban areas. Moreover, both developers and investors follow the trend.