Air Rights: Bangkok Real Estate

Air Rights: Bangkok Real Estate
Air Rights: Bangkok Real Estate

Air rights refer to the right to control, lease, or own the space above a piece of land. This type of property right is a subset of development rights, which also include the rights to develop land horizontally.

In Bangkok, examples of development rights include the ability to build commercial complexes or residential units on a piece of land.

Air rights differ from other property rights such as surface rights or mineral rights. Surface rights allow the owner to utilize the surface of the land for purposes like agriculture or construction, whereas mineral rights grant the owner access to the underground resources such as oil, gas, and minerals.

Air rights specifically pertain to the space above the ground and do not involve the surface or the subsurface of a plot.

Three popular features specific to air rights include the construction of overpasses, bridges, and the development of skyscrapers. For instance, in Bangkok, air rights have facilitated the building of pedestrian bridges connecting commercial buildings over busy streets and the development of towering skyscrapers that define the city’s skyline.

Common features associated with air rights include the ability to lease air space, transfer of air rights, and air rights valuation. These elements are crucial in urban settings like Bangkok, where the leasing of air space for billboards is frequent, transfer of air rights can lead to the development of adjacent parcels, and valuation determines the price of these rights based on factors like location and potential use.

Unusual features of air rights encompass the creation of vertical gardens, outdoor advertising spaces, and drone corridors. In Bangkok, vertical gardens attached to high-rises utilize air rights for urban greening, billboards positioned high above streets exploit air space for advertising, and designated drone corridors above buildings are considered for future urban planning.

Unique to air rights are the potential for creating additional floors on existing buildings, rights to sunlight ensuring that new constructions do not block sunlight to existing structures, and the possibility of developing aerial transportation hubs. These features are particularly pertinent to Bangkok’s rapidly growing urban environment, where maximizing the use of vertical space is essential for accommodating the city’s expansion.

Air rights stand out from surface and mineral rights in their application and impact on urban development. While surface and mineral rights cater to horizontal expansion and the exploitation of underground resources, respectively, air rights facilitate vertical growth and the innovative use of airspace, marking a distinctive approach to managing urban spaces.

For further information on terms related to real estate, including air rights and their implications, please visit our glossary about Bangkok real estate.