Land prices to rise only 1.5%

By The Nation

Average land prices in 2009 are expected to rise only 1.5 per cent, compared to the 3.5 per cent annualised increase last year, as a result of the economic slowdown and political instability, according to consultancy firm Agency for Real Estate Affairs.

The average is based on the economic growth of 2 per cent. The Finance Ministry expected the economy to expand 0-2 per cent this year.

Sophon Pornchokechai, chief executive officer of the company, said that land plots in the East and tourist destinations could fall this year due to the global economic slowdown, while land along the electric train routes could rise 10 per cent.

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Land prices to rise only 1.5%

Average land prices in 2009 are expected to rise only 1.5 per cent, compared to the 3.5 per cent annualised increase last year, as a result of the economic slowdown and political instability, according to consultancy firm Agency for Real Estate Affairs.

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