BANGKOK, Aug 13 (TNA) – The Treasury Department will announce the new land price appraisal for 2020 with an average increase of 8 per cent, close to the market price.
The department’s Deputy Director-General, Wilawan Veerakun said the new price assessment covers 33.4 million plots of land, increased by 1.4 million plots from the previous evaluation.
About 70 per cent of the land prices remain unchanged and about 29 per cent were up.
In Bangkok, land prices have surged 8-10 per cent. The most expensive areas are Ratchadamri, Chidlom and Siam, rising from 900,000 baht per square wah (wah = about 2 metres) to one million baht.
In the provinces, the average increase is 8 per cent. Land in Kamphaeng Phet province surges the most by 200 per cent to ten thousand per square wah after it were not adjusted in the past two years.
The land, designated as the Eastern Economic Corridor slightly increases but could rise in the next evaluation when many projects are implemented in the EEC zones.
The new land appraisal prices, which typically lasts for four years will be used for collection of land and buildings tax, which will be put into effect on Jan 1, 2020. (TNA)
