Land prices in Bangkok won’t lower after floods

BANGKOK, December 16 (TNA) - Despite flooding in some parts of Bangkok and several adjacent provinces over the past couple of months, land prices in the affected areas are not expected to drop in 2012. Samma Kitsin, chief of Real Estate Information Centre, acknowledged that there are several positive factors which should help maintain the land prices at a high level, including the phase 3 construction of 27.9- kilometer-long expressway from the Kaset Intersection in Bangkok to Nonthaburi Province and a plan on bidding next year for the construction of new five mass–transit train routes, aimed at easing traffic problems in Bangkok and outlying areas. Kittipol Pramote Na Ayudhya, President of the Real Estate Association, meanwhile, assessed that not many people would switch to buying condominiums, instead of detached houses, following the flooding crisis, but up to a maximum of 15 per cent would scrap booking of house buying due to their financial problems. Kittipol said he foresaw that the Thai property sector would keep growing about some 10 per cent next year due to plans to construct several mass transit trains, proposing, however, that new housing projects have flood prevention measures in good place and the government come up with a materialized long-term water management system. (TNA)