For anyone who has ever looked for an apartment in Bangkok, it’s official: Real estate is pricier near the BTS.
Property values have gone up 39 percent in the past four years in districts touched by the 2011 BTS extension from On Nut to Bearing, the Treasury Department said last week.
The four high-growth districts, Watthana, Klong Toey, Phra Khanong and Bang Na have also seen a rise in condo developments over that period, pushing land values up, the Bangkok Post reported.
The BTS carries more than half a million riders each day, and with Bangkok traffic only getting worse, it’s no surprise that people want to live and work near stations.
In fact, values all over the city were up. In Bangkok Noi, Taling Chan, Bang Phlat and Thawi Watthana, property values rose by a third, while in Bang Khunthian, Chom Thong, and Bang Bon, the increase was almost 30 percent.
The Chatuchak and Lat Phrao districts saw values increased by less than a percent, but the Post noted that those neighborhoods, as well as Prawet, which increased by only 1.5 percent, had experienced high value growth in the previous round of appraisals.
The most expensive neighborhoods in Bangkok are Silom, where property can be as high as 850,000 baht per sq wah, and near Ratchadamri Road, where land goes for 800,000 baht per sq wah.
The lowest-priced area in Bangkok remains the coastline of Bang Khunthian district, which is appraised at 500 baht per square wah.
The Treasury Department appraises land every four years, in order to calculate taxes, the Post said.
