Colliers International, Thailand released a report titled “Khao Yai Residential Market Report.” It is an 18 page PDF file that can be downloaded here. For anybody seriously considering purchasing or investing in the Khao Yai area it would be a valuable read. The lengthy report has lots of figures and graphs that thoroughly cover the history and current trends of the residential property market in the Khao Yai area. For the purpose of their discussion they divide the region into three areas, Western, Central and East, as show in the image below.
This is a convenient way to view the region as those three areas have different features and pricing. Note that the Eastern area is often referred to locally as “Phu Khao Sethi” or “Millionare Mountain”. The Colliers report confirms the reason for that local tag – it is by far the most expensive area in the region with the average price of a house or villa at around 12 million baht. Luxury developments such as Kirimaya and Toscana have a lot to do with that average price level.
The Western area has a lower average price with the Central area pricing somewhere between the Western and Eastern. Overall averages mentioned in the report for the entire region are 9.79 million baht per unit for house or villa, 9,160 baht per square wah for plots, and 62,600 baht per square meter for condominium units.
The outlook for the area looks quite strong based on the observations in the report. Colliers points at that some major developers have begun projects in the area, including Magnolia, Vilailux and Sansiri, which will drive demand and pricing even further.