Buying Lands in EEC area of Thailand

[onera1961]

As I see Thailand is gearing up for EEC development, is it prudent to buy lands in that area for investment? I have an apartment in Benidorm and a condo in Hawaii  and I am planning to liquidate and invest in Thailand in my daughter's name. What kind of lands is the most suitable for investment- a large piece of undeveloped lands or developed lands (water, electricity, roads, etc.) with residential plots? What would you prefer if you have access to 7/8 mil BHT? What are the things I should check before a purchase? My preference is multiple developed residential lands (less hassle I think but more expensive than undeveloped lands). I am nearing 60 and travel a lot. Want to make sure every thing is set up for my daughter (12 years) before I die. My kidney is already failing. Not yet on dialysis. 

Edited July 16, 2019 by onera1961

[FritsSikkink]

For 7/8 mil BHT you can buy next to nothing in that area.

[onera1961]

47 minutes ago, FritsSikkink said:

For 7/8 mil BHT you can buy next to nothing in that area.

I see lots of residential plots for one/1.5 million a piece advertised in Thai and they are too inside may be 2/5 KM from the main road (3 and 7) but already developed (concrete roads, electricity) but no houses around.  And large swath of undeveloped (dirt roads and no electricity but cheaper) lands for 5-7 millions, may be suitable for condo complex development. I am not a real estate investor. I am an equity investor. But I think if something happens to me, my daughter and GF in Thailand will have hard time selling US equity and repatriate the money. I have another grown up daughter in the USA who can inherit my equity investment if anything is left before I die. 

 

Edited July 16, 2019 by onera1961

[ThomasThBKK]

"bigger" cities that get access to the highway/rail, cities near the airports (utapao), Cities that are close and have holiday/beach getaways and are not called pattaya or jomtien.

 

I decided to invest in the islands south of the ECC instead near cambodia, assuming they benefit too. If not i will just beach bum around there.

Also we bought some in the north near Udon Thani, knowing a highway gets build next to the plots. 

Edited July 16, 2019 by ThomasThBKK

[Anythingleft?]

Not to be too pessimistic but, that seems awful cheap and I don't think you are looking at a lot of square feet for that price

The money being made is by the developers already selling the land at inflated prices.....

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[onera1961]

2 hours ago, Anythingleft? said:

Not to be too pessimistic but, that seems awful cheap and I don't think you are looking at a lot of square feet for that price

The ads for developed residential plots I was looking at is good for 3-bed room, 2-bath room house with little lands left (suitable for a Thai middle class family with a decent job). You can buy a bare bone house for 2.5/3.5 million around Pattaya. These types houses you can see all around Pattaya, Banglamung, Jomtien, Rayong, Sattahip, Sri Racha, Lat Kabang, etc. My GF bought a house two years ago for 2.4 million in Banglamung (11 KM from downtown Pattaya and 2KM from highway 3) and than spent another 500K to make it suai ????. 2.4 million includes 1.7 million for the land and 700K for the house. It is in a gated community with a communal swimming pool. I am checking out ads for plots only that are around 25/30 KM from Pattaya downtown but close to the main roads (3 and 7). They already have concrete roads and electricity but no houses around. May be it will take another 10-years for people to start moving there. The undeveloped lands (around 5/10 km from the main roads with dirt road access and no electricity) are not plotted and needs clearing of woods and leveling with soils which are large and suitable for condo complex development. This is not for me for vacation. I already vacation in Hawaii/Las Vegas/Benidorm. It will be a gift to my daughter in Thailand. I have another daughter in the USA and I gave her for college education and 40K USD down payment for her first house. So she does not expect anymore from me. 

Edited July 16, 2019 by onera1961

[ThomasThBKK]

Don't buy from developers, they are already overpriced.

Good deals are only be made buying from thai families, especially large plots give a good deal as most buyers don't have enough money to buy the whole thing. hard to find without local knowledge and not beeing there tho.

Buying 10 rais and then subdividing it into pieces gives you better resell value.

If buying land near highway - i would only doing it directly on a street due to commercial usage.

 

Alternatively, beachfront land...they don't make more of that, humans will always desire it (if we ignore some worst case climate change catastrophe).

The small islands are upcoming, people are tired of pattaya and co. Many thais will look into domestic traveling and/or want to build their own beachfront property in the future.

 

 

 

[onera1961]

How about buying three condos and renting two of them and living in one? Now I rent a condo year round for 10k in Jomtian though I live only for 6-months. The condo is one bed room (separate room) and fully furnished brand new (I am the first occupant) with two aircon (bed room and living room). They sell for 2.4/2.5 million. The developer is developing a second complex and will be available next year.  Can I buy condos in my minor daughter's name?

 

Edited July 17, 2019 by onera1961

[AgMech Cowboy]

Go to UOB Kay Hian, open an investment acct. and forget about using Thai land for investment. I regret buying land & the house here. Too hard to sell.

[thaiboss]

FIRST FOR  YOUR KIDNEY GO TO THE CHINESE HOSPITAL HUA CHIEW HERE IN BANGKOK  they can heal every thing with chinese herbs and accupunture...

 

then with 7 or 8 million you can buy only a house with his land but not on beach resort aera not enouth

you have to choice select your destination aera first , where in thailand you want to buy ?

 

I  know land  to buy for speculation in chiang rai  2 million baht near rai chern tawan development aera but do not expect something happen before next 10 years there 

[onera1961]

51 minutes ago, thaiboss said:

FIRST FOR  YOUR KIDNEY GO TO THE CHINESE HOSPITAL HUA CHIEW HERE IN BANGKOK  they can heal every thing with chinese herbs and accupunture...

haha 

 

51 minutes ago, thaiboss said:

then with 7 or 8 million you can buy only a house with his land but not on beach resort aera not enouth

Neither interested in beach resort or house with land. I can build a house for 3 million with swimming pool in Pattaya.

 

51 minutes ago, thaiboss said:

you have to choice select your destination aera first , where in thailand you want to buy ?

It already says in the title. 

 

51 minutes ago, thaiboss said:

I  know land  to buy for speculation in chiang rai  2 million baht near rai chern tawan development aera but do not expect something happen before next 10 years there 

MY target is 10 year but not interested in Chiang Rai or other poorest places in Thailand.

.

Edited July 19, 2019 by onera1961

[khunPer]

On 7/16/2019 at 2:33 AM, onera1961 said:

What kind of lands is the most suitable for investment- a large piece of undeveloped lands or developed lands (water, electricity, roads, etc.) with residential plots? What would you prefer if you have access to 7/8 mil BHT?

Thai buyers would look for flat land next to major roads with access to electricity and water; i.e. think business. For 7 to 8 million baht you might be able to find a few rai with prime location – so only for small business – but it might also take some time to gain a profit, as others might already have same thoughts, and prices might already be (too) high in the EEC.

 

In general in Thailand, it's the land that is worth something for long term speculation, not buildings or constructions on the land, so investing in plain empty land makes sense. Count on potential minimum double up in value over 10 years only, not less, as you then should consider other investments. Long-term stock market gives up at double-up over 10 years; i.e. average of 6-7% combined increase and dividend a year, which is doubled, or almost doubled, within a decade when dividends are reinvested. Stocks can be sold with a click of a mouse, and paid in full within a few bank-days. It might take long time to sell land, however always depending of location and price, location is the prime factor.

 

Invest only in land with Chanute title deed, if Nor Sor 3 title then have the land deed upgraded before completing the deal and settle the payment, apart from a minor deposit.

 

I would not look at condos – or town houses – too many on the market already, and second hand condos, and houses, are less attractive for Asian buyers than new constructions.

 

Farm land might still be a better investment when looking at potential increase – depending of area and price; i.e. location – but long-term speculation about future has always been difficult. Historical gains is no gurantee for future gains, so not much help that farmland har quadropled in price over the last decade. Farm land can often give a rent similar to a high interest long-term fixed deposit, and the land value will be likely only go up, as the World's demand for farmland will increase.

 

Buying domestic land with intention to sell to foreigners, location is "same-same but different", as next to main road might not be interesting at all, but rather a quiet area, and especially with a view; preferable sea-view, if not beachfront. But still access to electricity and water is a must, as well as neighborhood, including distance to convenient shopping, restaurants etc., and distance to major shopping mall, and hospital, and school etc. Affordable land might be more difficult to sell, and to gain a mark-up from, than land aiming on hi-end luxury, which are more independant of currency exchange rates, and general economy. 7-8 million baht might, depending af area, just be enough for a smaller hi-end plot.

????