Land prices to spike in H2

Land prices to spike in H2

REIC envisages good prospects for Bangkok landowners this year

Land prices in Greater Bangkok are projected to rise at a rapid rate in the second half of 2021, in part because of the forecast of an economic recovery.

Vichai Viratkapan, acting director-general of the Real Estate Information Center (REIC), said land prices in Greater Bangkok last year kept increasing, with a year-on-year rise of 17.1% in the price index of vacant land in the fourth quarter.

The land price index escalated from 2019 before slowing down in the third quarter of 2020 to 0.7% growth quarter-on-quarter, he said.

But the quarterly margin increased to 7.3% in the fourth quarter.

“New infections late last year mean the first half index will slightly increase,” said Mr Vichai.

“But with an economic and property…