Developers pivot to leasehold as Thong Lor land prices climb; 12bn baht mixed-use project leads shift

Soaring land costs in Bangkok's Thong Lor neighbourhood are pushing developers toward leasehold residential projects. A new mixed-use development worth more than 12 billion baht marks the first major leasehold project in the area.

Steep asking prices for land in Thong Lor are prompting developers to shift towards leasehold residential projects, with a new mixed-use development worth more than 12 billion baht becoming the first major leasehold project in the neighbourhood.

The project, which is being developed by an unnamed developer, is a mixed-use development that includes residential units. The shift towards leasehold projects is a response to the high cost of land in the area, which has made freehold developments less viable.

Thong Lor is a popular neighbourhood in Bangkok, known for its vibrant nightlife and dining scene. The area has seen significant development in recent years, with a number of new condominium and hotel projects being built.

The move towards leasehold projects is likely to be welcomed by buyers who are looking for more affordable options in the area. Leasehold projects typically have lower prices than freehold projects, making them more accessible to a wider range of buyers.

The new mixed-use development is expected to be completed in the next few years, and is likely to be a major addition to the Thong Lor skyline.