Developers and buyers all want to know the impact on the property market of the 197-kilometre mass transit lines under construction in Bangkok.
These new infrastructure developments, in addition to the 110km of existing mass transit lines, will improve access to and from inner city areas and link midtown areas.
This will affect the property market, especially the residential market. The popularity of each line can be seen from its ridership, as well as the number and prices of residential units along the line. These factors show not all lines are equal.
Currently, the BTS Light Green Line, with 750,000 passengers per day, has seen the most developments of residential, office, retail, and hotel properties.
It is followed by the MRT Blue Line, with 350,000 passengers per day, where developments have been concentrated along Ratchadaphisek road.
For the MRT Purple Line, many condominiums were launched during its construction with high expectations. However, with currently only 51,000 passengers per day, it will be less attractive for developers to invest further in projects along the line until the passenger numbers improve.
Residential developers are also acquiring land plots before the completion of the new lines under construction. Speculative residential property buyers are willing to purchase soon after construction starts on the lines.
End-user buyers who represent real demand only make decisions when they see there is significant progress on the lines and the projects they are planning to buy can be completed about the same time the line becomes operational. Many end users need the line to be operating before they decide to live in the property.
Bangkok falls 19 places to 49th most expensive location worldwide
Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.
Is There a Silver lining amid COVID-19?
Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.
Thailand welcomes first Finnair flight from Stockholm to Phuket
Bangkok, 25 October, 2021 – The Tourism Authority of Thailand (TAT) today welcomed the start of Finnair’s latest direct non-stop...
More COVID-19 restrictions are relaxed in Thailand from 16 October 2021
Bangkok, 16 October, 2021 – The Tourism Authority of Thailand (TAT) would like to provide an update that more COVID-19...
China’s economy stumbles on power crunch
BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks...
Quarantine-Free Thailand Reopens for Vaccinated Tourists From 1 November 2021
The Tourism Authority of Thailand (TAT) would like to confirm that Thailand is all set to welcome fully vaccinated foreign...
The ASEAN-India Trade in Goods Agreement
The ASEAN-India Trade in Goods Agreement (the “Agreement”) is a trade deal between the ten member states of ASEAN and...