Article :Dr. Sophon Pornchokchai opens the formula for calculating the price of a condominium unit Line of the MRT Yellow Line, price of land and size of the apartment that needs to be developed Samrong land prices rise from intersection yellow line and green line

The car has been opened For the MRT Yellow Line (Lat Phrao - Samrong), while the price of a condominium along the MRT Yellow Line is appropriate or not? There are calculation formulas for investors to consider by Dr. Sophon Pornchokchai, president of the Thai Real Estate Research and Valuation Information Center, Agency for Real Estate Affairs Plc. or AREA. that in the case of Samrong station, the price of land near this station is about 500,000 baht per square wah If using this land to build a condominium for sale, how many baht per square meter should be sold? It can be calculated as follows.

1. Assume the land size for a condominium project is 1,000 square wah, so the land price for 1,000 square wah is 500 million baht.

2. Land of 1,000 square wah is equal to 4,000 square meters if the city plan of Bangkok Permission to build 7 times is equivalent to building 28,000 square meters.

3. The construction cost according to the price standards of the Appraisal Foundation - Realtor of Thailand is 30,000 baht per square meter. Therefore, the construction cost is 840 million baht for an area of 28,000 square meters.

4. Therefore, the cost of land and buildings, or simply called "hard costs" (Hard Costs: buildings and land are all solid), is 1,340 million baht.

5. Assuming that this hard cost is 65% of the project value. which is the normal proportion Therefore, the value of this project is about 2,062 million baht.

6. Assuming the salable area is 60% of the construction area Therefore, the salable area is approximately 16,800 square meters.

7. Therefore, the average selling price per square meter of the apartment next to the electric train It's about 123,000 baht if it's far away. or in the alley The price has descended in descending order to about 90,000 baht per square meter.

In the case of Sri Thepha station The price of land near this station is about 230,000 baht per square wah. If using this land to build a condominium for sale, the sales per square meter should be clearly reduced. It can be calculated as follows.

1. Assume the land size for a condominium project is 1,000 square wa, so the land price for 1,000 square wa is 230 million baht.

2. Land of 1,000 square wah is equal to 4,000 square meters. If the city plan allows it to be built 7 times, it is equivalent to building 28,000 square meters.

3. The construction cost according to the price standards of the Appraisal Foundation - Realtor of Thailand is 28,000 baht per square meter. Therefore, the construction cost is 784 million baht for an area of 28,000 square meters.

4. Therefore, the cost of land and buildings, or simply called "hard costs" (Hard Costs: buildings and land are all solid), is 1,014 million baht.

5. Assuming that this hard cost is 65% of the project value. which is the normal proportion Therefore, the value of this project is about 1,560 million baht.

6. Assuming the salable area is 60% of the construction area Therefore, the salable area is approximately 16,800 square meters.

7. Therefore, the average selling price per square meter of the apartment next to the electric train It's about 93,000 baht if it's far away. or in the alley The price has descended in descending order to about 60,000 baht per square meter.

This estimation is preliminary as a guide for analyzing the selling price of various projects only. There are more facilities or less usable space. make more luxury will be able to set a higher price But if able to increase the proportion of construction area and can save more construction costs. The selling price will be greatly reduced. making it easier for people to buy houses

Therefore, the new town plan should be able to increase the proportion of construction, which should be up to 15 to 20 times the size of the land.

Source:https://www.thansettakij.com/real-estate/573911

Date 21/08/2023