Thai Land Valuation on the Rise

Land evaluation prices nationwide will increase 20 per cent on average next year, according to the Treasury Department's re-evaluation which will take effect on Jan 1.

Naris Chaiyasoot, director-general of the department, said that the increase is relatively low as land prices have been jacked up significantly in the previous rounds of re-evaluation.

Udon Thani is the province with the largest increase, at 51 per cent from the previous round. Phuket's land price will go up by 49 per cent.

In other provinces, the evaluation prices of land in Chiang Mai, Chiang Rai, Ayutthaya, Pathum Thani, Nonthaburi, and Lop Buri will go up by 11 per cent, 4.3 per cent, 10.6 per cent, 27 per cent and 22 per cent, respectively.

The evaluation prices in Bangkok will rise by 17-20 per cent, but areas along mass-transit routes will enjoy a hefty 50 per cent price increase.

Land evaluation prices are renewed every four years.

Source: The Nation
19 December 2011