Thailand's new land evaluation to take effect early 2016

BANGKOK, December 24 (TNA) - The Treasury Department, under the Thai Ministry of Finance, will announce its new land appraisal nationwide on Januay 1, 2016, with the most expensive plots reportedly remaining in Silom, Sala Daeng and Narathiwat Intersection areas in Bangkok. Based on the department's updated land prices to be effective from 2016 to 2019, the prices of land in business areas in Bangkok will reportedly rise to 900,000-1,000,000 baht per square wa or 4 square meters. Extended electric railways appear to significantly boost the prices of land, with those along electric railways reportedly to be 70-75 per cent more expensive and those along the Purple Line electric railway from Bang Sue in Bangkok to Bang Yai in the adjacent Nonthaburi Province to be reportedly double. The prices of land plots on Phahon Yothin Road in the capital, where an extended section of the Green Line electric railway is being constructed, will reportedly peak at 280,000 baht per square wa or 4 square meters, while those along the route of the extended section of the Blue Line on Charan Sanitwong, Phetkasem and Pracharat Roads will reportedly stand at 170,000 baht per square wa or 4 square meters, those along the Purple Line from Bangkok to Nonthaburi will be reportedly at 220,000 baht per square wa or 4 square meters and those along the Red Line will be reportedly at 170,000 baht per square wa or 4 square meters. Land prices will also likely rise in many other provinces over the next four years, especially those in six provinces where special economic zones (SEZs) will be developed. Evaluated land prices nationwide will increase by 25 per cent on average, with those in Bangkok alone to be reportedly increase by 15 per cent on average, and the new prices of land will be used mainly as the basis for taxation. (TNA)