Thailand's Yellow Line Metro: Real Estate Driving Force and Prospects
The explosive growth of real estate around the Metro Yellow Line is a major topic of discussion in the real estate industry. This new line promises to attract a large number of developers and investors due to its strategic location and planned development. In this section, we look at how the Yellow Line has become a real estate growth engine and what perspectives it offers.
The 30.4 kilometer yellow metro line starts from Ratchada-Lat Phrao Junction and runs along Lat Phrao Road to Bangkapi Junction, where it turns right onto Srinakara Road. Passing through nodes such as Srinakarin, Sri Udom and Sri Thepa, the line turns right onto Teparak Road and ends at the junction with Sukhumvit Road at Samrong Station.
One of the key features of the Yellow Line is its impact on rising land prices along the entire route. Real estate consulting company Colliers International conducted a study and noted that the very point of explosive growth is Samrong, where land prices continue to rise steadily. In Srinakarin-Suan Luang, land prices are as high as 420,000 baht per square wah (4 square meters) and developers plan to build 19,000 apartments over the next 10 years.
Real estate development along the Yellow Line over the past 10 years has been impressive. More than 19,229 apartments have been built, Colliers points out, and developers continue to invest in projects that are completed, under development, and waiting to be completed. Pruksa, for example, purchased a 12 rai plot of land in the Happyland Market area worth over 2 billion baht, but the project was ultimately canceled, leaving the land unused.
Rezoning and Rising Land Prices: From Yellow to Red Zone
One of the key factors influencing the rise in prices for land along the Yellow Line is a possible change in its zoning status. The area is currently classified as a "yellow zone" but city planners may reclassify it as a "red zone". This will lead to accelerated real estate development and an estimated increase in land prices by 50%.
This rezoning will be a significant turning point that will cause land prices to rise above expectations. Developers who have purchased land in advance will be able to use it at a lower cost. In the case of real estate development projects, the new sale price is expected to exceed 100,000 baht per square meter. Many construction companies expect Lat Phrao to become a "red zone" and are ready to invest in this growing market.
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Real estate development along the Yellow Line: development prospects
Specialists predict that real estate growth along the Yellow Line will continue in the coming years. It is expected that investment and development of real estate projects will continue to grow, attracting both local and foreign investors. Rising land prices, improved infrastructure and the availability of public transport make this area an attractive place to live and do business.
Free trial rides on the Lat Phrao – Samrong monorail
Eastern Bangkok Monorail (EBM) held a media tour to show preparations for the first trial run. It's scheduled for tomorrow at 9:00 am.
At the start of operation, the monorail will operate from Samrong Station to Hua Mark Station, including 13 stations. In the second week, it is planned to expand the service, covering all 23 stations and a total length of 30.40 kilometers.
Opening hours will be from 6 am to 9 pm, and later it is planned to expand to midnight. The monorail will help solve the traffic problem on Lat Phrao Road, especially during peak hours.
Bangkok Mass Transit System Pcl (BTSC) applied for approval of fares in the range of 15 to 45 baht based on the consumer price index three months prior to operation. The MRTA (Mass Rapid Transit Authority of Thailand) will submit a proposal to the Ministry of Transport for further approval.
The Lat Phrao – Samrong monorail represents a significant step forward for public transport in Bangkok. It will alleviate traffic problems, reduce traffic congestion and improve the quality of life for local residents. We hope that a successful trial run period will lead to the full functioning of the monorail and provide convenience and comfort for all its users.
Author of the article: Ekaterina Antonova
