Bangkok: The Treasury Department is gearing up to propose a review of housing and agricultural rental rates to the new government, aiming to align them with current market conditions.
According to Thai News Agency, the department expects to exceed its revenue target of 11,900 million baht by 2026 and aims for a 20% disparity in property valuations by 2027 compared to market prices.
Mr. Akkharut Sonthayanon, Director-General of the Treasury Department, outlined the fiscal plan for 2026, which targets revenue collection of 11,900 million baht. Of this, 11,500 million baht is anticipated from rental income of state properties, while 400 million baht is expected from commemorative coin sales. In the first four months of fiscal 2026, the department collected 8,000 million baht, projecting an overall increase of 20% over the targeted revenue.
The department is set to propose a revision of state-owned property rental rates for residential and agricultural purposes. Current rental rates have remained unchanged for an extended period, and the department is assessing how to update them without impacting small-scale landowners. Residential rental rates are currently 0.25 baht per square wa per month for areas under 100 square wa, and 0.50 baht for areas exceeding 100 square wa. Agricultural rates stand at 20 baht per rai per year for areas under 50 rai, and 30 baht for areas above 50 rai. Lease agreements generally span three years, and commercial building rates are adjusted every three years based on market values.
In response to rising gold prices, the Treasury Department plans to propose to the Ministry of Finance an adjustment in the price of commemorative gold coins of King Rama VIII. The face value of these coins is significantly below the current market rate. For instance, a 1-baht gold coin, initially valued at 30,000 baht, now sells for 60,000 baht, with market prices climbing to 80,000-90,000 baht. A new regulation will align the coin prices with market values, although coins already in public possession will be subject to market demand.
The land valuation period, covering 2021-2026, shows the highest price in Bangkok's Ploenchit area at 1 million baht per square wah, while land in Bang Khun Thian district without road access is priced at 500 baht per square wah. In Omkoi District, Tak Province, land is valued at 25 baht per square wah. The new valuation period starting March 1, 2027, aims to reduce the difference between appraised and market prices to around 20%.
The department also plans to auction outstanding assets at lower prices to encourage private development. Notable assets include the Bang Phra Golf Course, land along the Chao Phraya River next to Icon Siam, and a 5-rai plot previously occupied by the former tobacco factory at the Sathorn Bridge. Additionally, efforts are underway to resolve the EEC water pipe issue involving Siam and East Water, requiring an investment of 700-800 million baht, and progressing the development of Moit 2 station land without impacting nearby residents. These projects are expected to generate significant revenue.