Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas revealed that he has directed the Treasury Department to expedite revisions of the new land appraisal prices, which will be announced for use in 2027, to better align with economic conditions and approach market prices. Currently, government appraisal prices are approximately 30-40% below actual transaction prices, while international standards require a discrepancy no greater than 15%.
The Treasury Department will conduct land price appraisals every four years, with the current round covering about 37 million land plots nationwide. The price adjustments will take into account economic conditions, actual transaction prices, and the impact on all sectors of the public.
Ekniti stated that the Treasury Department's land appraisal prices are used for various purposes, including tax collection and as references by financial institutions when considering loans. Therefore, it is essential to have data that closely reflects real asset values. Additionally, the Ministry of Finance will continue advancing digital government initiatives by linking data with various agencies to provide the public with convenient, transparent, and secure access to services.
Treasury Department Director-General Akarut Sonthayanon explained that the gap between government appraisal prices and market prices arises because appraisal prices serve as the basis for calculating land and building taxes, whereas loan collateral evaluations must reference market prices. Thus, the new appraisal prices must be set carefully to balance tax collection and economic utility.
Meanwhile, the Treasury Department has launched the D-Value service, allowing the public to request certified copies of property appraisal price accounts online for convenience. Users can check appraisal prices and request documents via the website or the TRD Property Valuation application, taking no more than 10 minutes. The documents include electronic signatures and are immediately valid for official use, reducing costs and eliminating the need to visit the Treasury Department in person.
Reporters noted that the new land appraisal cycle covers over 37 million plots nationwide, with appraisal prices expected to rise in line with economic growth. The highest appraisal prices remain in Bangkok’s central business districts such as Witthayu, Sukhumvit, and Silom roads, where prices reach up to one million baht per square wah.