Soi Rangsitphirom takes off

Juthapat Land Group director Charnchai Sukboon said land prices in the area have risen from Bt14 mil¬lion over the past four years to Bt40 million. The company is a property developer in Pathum Thani province and manages the Rangsitphirom property project.

"No one wants to sell, yet. They want to keep it for further development and speculation," Charnchai said.

The prices were three times high¬er than an area located just 500 metres away. There, the monthly rent for a room in student apartments was only Bt2,000, while the rent for apartments in the area was as high as Bt5,000 to Bt6,000, Charnchai said.

He likened Soi Rangsitphirom to a city where university students come from distant provinces to stay in student apartments. The univer¬sity is constructing a new building, which means more students will be coming here.

However, he did not think land prices would rise any more because they would be too high to attract investment. The maximum increase in prices each year could be 10 per cent.

Charnchai said many investors had invested in the area when the price of land and buildings was still low and had got out to gain high profits.

Soi Rangsitphirom continues to show promising growth.

Soi Rangsitphirom now has just a sevenrai plot vacant. The land is near the border of the area. Of this, one rai will have four eightstorey student apartment building, being developed by Juthapat. It has signed a contract with the Tesco Lotus Supercentre to rent a onerai area for 12 years.