Floor area ratio (FAR) should be higher in line with rising land prices and feeder networks should be provided to connect mass transit lines if the government really wants to promote affordable living in Bangkok, say property experts.
Atip Bijanonda, president of the Housing Business Association, said the new Bangkok city plan, scheduled to be applied from the end of next year, should promote more people living in the city affordably.
To do so, FAR should be increased, in line with rises in land prices so that construction area increases. This will make residential prices lower as land cost accounts for 30-35% of development costs.
"An increase in FAR will not drive people in the middle-income segment to live in locations farther from the city, where travel costs are high," he said on Wednesday at a seminar on how to change Bangkok through the city plan.
Mr Atip said the city plan should specify nodes to develop where mass transit lines will pass and provide infrastructure, utilities and security system for each node to promote suitable community development.
Phanom Kanchanathiemthao, managing director of property consultant Knight Frank Chartered Thailand, said the city plan should promote transit-oriented development (TOD) in key locations like Siam Square, Taling Chan, Bang Wa, Tha Phra and Bang Kapi.
"These locations either are or will be where two or more mass transit lines cut across," he said. "Development bonuses in transit locations should extend from a radius of 500 metres under the new city plan draft to 800 or 1,000m."
The Bangkok Metropolitan Administration (BMA) has opened the fourth version of the city plan draft for comment and suggestions
The plan is scheduled to be submitted for consideration next year, and implemented by the end of 2019.
Thapana Bunyapravit, president of the Thai Association for Town Planning, said Bangkok should apply the ideas used for Singapore's city plan, particularly on maximising land use in locations where economic activities are plenty.
"The [government or BMA] should specify the areas it wants to have an economic wealth so that it can collect high tax," he said. "Low-density developments should not be allowed in those locations to promote maximum land use."
To calculate the amount of construction area, Mr Thapana said the Singaporean government starts with estimating how much of tax it wants to collect in an area, which is then transferred into planning for commercial areas.
"A minimum construction area will be set," he said. "Land cannot be grown. It is limited. So it should be used as best possible."
He said this economic centre should be designed as a walkable city to reduce the use of the cars. Main and minor mass transit lines should be provided to support it.
Surayut Thavikulwat, the chief financial officer of SET-listed BTS Group Holdings Plc, said Bangkok does not have sufficient mass transit lines as less than 10% of people use the system, while 40% of the people in Hong Kong, Seoul, Tokyo and Singapore use mass transit.
"Feeder lines to main mass transit lines are needed," he said.
Next year locations from the Lat Phrao intersection to the Ratchayothin intersection will become busier as the extended Green Line will start operations. Another area with potential is Ku Kot as it will be a terminal station of the Green Line.
