20/02/2568

Top 5 undeveloped land prices before development along mass transit routes in Q4/2024

Credit details and picture : REIC - Real Estate Information Center

REIC Reports Changes in Undeveloped Land Prices in Bangkok and Metropolitan Areas – Q4 2024

The Real Estate Information Center (REIC) has released a report on changes in undeveloped land prices before development in Bangkok and its metropolitan areas for the fourth quarter of 2024. The overall undeveloped land price index has risen to 401.4 points, reflecting a 1.8% increase year-over-year (YoY) compared to Q4 2023 and a 2.6% increase compared to Q3 2024.

However, the rate of price growth has slowed compared to the previous year, indicating a slowdown in real estate development investment due to declining purchasing power in the housing market.

Top 5 Areas with the Highest Land Price Increases (YoY):
1st Place: Nakhon Pathom – Land prices surged by 59.6%
2nd Place: Samut Sakhon – Land prices increased by 44.2%
3rd Place: Pathum Thani - Lat Lum Kaeo - Sam Khok – Land prices rose by 27.3%
4th Place: Bangkok’s inner-city areas (Chatuchak, Huai Khwang, Yan Nawa, Watthana, Khlong Toei, Phaya Thai, Bang Kho Laem, Pom Prap Sattru Phai, Bang Sue, Din Daeng, Ratchathewi, and Bang Rak) – Land prices increased by 16.4%
5th Place: Bang Khen - Sai Mai - Don Mueang - Lak Si - Min Buri - Nong Chok - Khlong Sam Wa - Lat Krabang – Land prices increased by 1.2%

The growth in land prices in outer areas is driven by government infrastructure development, particularly the construction of roads and motorways, enhancing travel potential. Meanwhile, land prices in urban areas continue to rise due to scarcity of available land, with much of it being developed into mixed-use projects.

 Top Areas with the Highest Land Price Growth Along Mass Transit Routes (YoY):
⏫ MRT and Dark Red Line (Bang Sue - Hua Lamphong): +16.4%
⏫ Green Line (Mo Chit - Saphan Mai - Khu Khot) and Dark Red Line (Bang Sue - Rangsit): +15.6%
⏫ Green Line (Khu Khot - Lam Luk Ka): +10.1%
⏫ Purple Line (Bang Yai - Tao Poon): +10.0%
⏫ Blue Line (Hua Lamphong - Bang Khae), Gold Line (Thonburi - Prajadhipok), and Orange Line (Taling Chan - Cultural Center): +9.2%

Areas with significant land price increases are typically locations where mass transit projects are operational or key connection points, particularly in Khlong Toei, Din Daeng, and Chatuchak, which benefit from MRT route developments.

Market Trends and Key Drivers
Infrastructure development, including mass transit systems and motorways, remains a key driver of land prices. However, the real estate market remains cautious due to weakened housing demand, leading to a slowdown in land purchases by developers.

Read more details at: ?
https://www.reic.or.th/Activities/PressRelease