We originally paid 15 million, and we have since expanded the size of the house, kitchen remodeling, extensive landscaping, and we've just completed refurbishing all the teakwood inside and outside the house. All these additions cost another 3~4 million. While there may be some home depreciation to take into account, the land value itself has skyrocketed because it is in the actual city, not the suburbs. The neighboring moobaan, built at the same time as our home, but with smaller identical looking houses, has even higher asking prices (per sqm), and is full of Chinese families.