Land Prices in Isaan

[Troy Tempest]

My long time girlfriend (11 years Plus) has been offered some farmland (7 Rai) for 2m Thb as a quick sale!

 

It is adjacent to her Dad's and Uncles' Farms and I know the area well having visited many times.

 

It is half way between Udon Thani and Sakon Nakhon.

 

Does this price seem right?.....It seems very cheap to me so I smell a RAT!

 

She is not asking me for any money before you start!

 

Just wondering what do you think?

 

 

 

 

[howerde]

Is this land owned by a family/extended family member?. and is this just passing the land to another family member for a fee (your girlfriend?) . if you are going to be paying at some point yes you smell a rat. of course if your girlfriend has a decent job and can quite easily afford  the money no issues, 

[CharlieH]

MOVED to Isaan forum for local knowledge and input.

[mackayae]

If it borders on Nam Un it is worth it. However if it is rice fields and not adjacent to a paved road I would say not.

[CharlieH]

That seem high to me, for farmland . @ 300k per rai  (approx)

Especially If its not bordered by a main route

[Troy Tempest]

Thanks for your replies!

 

It is next to a road and electricity supply.

 

It used to be a rubber farm, but has been cleared.

 

Apparently the owner has run into financial difficulty and wants a quick sale!

 

I would not be spending any of my money on that......It was previously on the market for 7m so it doesn't seem right!......Just wondering if anyone knows what the going rate is for that type of land up there?

[BritManToo]

4 minutes ago, Troy Tempest said:

Just wondering if anyone knows what the going rate is for that type of land up there?

Not a bargain, but not excessively priced IMHO.

Tell your gf to offer 1.5M.

[farmerjo]

If you go into the real estate section on forum there is a pinned topic.(forest encroachment)

Type in a few numbers to get close to location and it will come up with current prices.

Give or take a bit depending on roads,electric,etc.

[Hummin]

Land title? 
 

Land prices with road an electric ranges from 80k +- depending of how close to village and up to what someone is willing to pay. Village quarter rai I know an auntie sold for 300k with land title por bor tor 5

 

Chanote I have seen forrest wet land land from 120k and up next to district road 20 minute outside Chaiyaphum and not directly close to any major village. 
 

if chanote 300k acceptable and in some cases cheep. Again, its all about what people is willing to pay at the moment they are selling. 
 

If you been with her 11 years, and you trust her and her family (you should know by now) I would say they know the marked price and what is an accaptable price. If there is something I trust my gf and my family, is the prices on land. 

[Troy Tempest]

5 minutes ago, farmerjo said:

If you go into the real estate section on forum there is a pinned topic.(forest encroachment)

Type in a few numbers to get close to location and it will come up with current prices.

Give or take a bit depending on roads,electric,etc.

Many thanks!...I will take a look.

 

Her family are very well connected and have money and loads of land.

 

She has businesses on Samui so is just thinking about investment potential as she has no pension as such!

[EVENKEEL]

I haven't kept up with Sakon Nakhon land prices. We bought 6-7 rai out of Sakon headed south. 14 yrs ago I paid 460K with chanote title, it's rice paddy, small road is 200yds to main well maintained road. 

 

I wouldn't say 2 mil is cheap, depends on location. Just saying farmland doesn't mean much.

[Troy Tempest]

3 minutes ago, Hummin said:

Land title? 
 

Land prices with road an electric ranges from 80k +- depending of how close to village and up to what someone is willing to pay. Village quarter rai I know an auntie sold for 300k with land title por bor tor 5

 

Chanote I have seen forrest wet land land from 120k and up next to district road 20 minute outside Chaiyaphum and not directly close to any major village. 
 

if chanote 300k acceptable and in some cases cheep. Again, its all about what people is willing to pay at the moment they are selling. 
 

If you been with her 11 years, and you trust her and her family (you should know by now) I would say they know the marked price and what is an accaptable price. If there is something I trust my gf and my family, is the prices on land. 

Yes the land is Chanote! And I know her family very well!.....

 

I get on with them really well and they keep inviting me to visit.

 

We were last up there in March this year.

 

I help them with their farms sometimes picking mangoes and other stuff and always catch loads of fish from their ponds for the barbecue!

 

[spidermike007]

That seems very high for farm land. Is it adjacent to a big city? One of the issues with rice land is it is not easy to convert the land to a more profitable crop. Rice is a horrendous crop. 

 

Is it chanote title? In Chaiyaphum province land goes for 30,000 to 100,000 per rai, depending on location and title. 

[Hummin]

8 minutes ago, Troy Tempest said:

Yes the land is Chanote! And I know her family very well!.....

 

I get on with them really well and they keep inviting me to visit.

 

We were last up there in March this year.

 

I help them with their farms sometimes picking mangoes and other stuff and always catch loads of fish from their ponds for the barbecue!

 

Well, I would not hesitate to buy land with Chanote at that price if everything seems legit. Of course I would check out the land, the neighborhood check it with land office first. 

[spidermike007]

34 minutes ago, Troy Tempest said:

Thanks for your replies!

 

It is next to a road and electricity supply.

 

It used to be a rubber farm, but has been cleared.

 

Apparently the owner has run into financial difficulty and wants a quick sale!

 

I would not be spending any of my money on that......It was previously on the market for 7m so it doesn't seem right!......Just wondering if anyone knows what the going rate is for that type of land up there?

I had a car I was asking $200,000 for. When I dropped the price to $30k, it sold. What they were asking and what it is worth sometimes has no correlation. Do your research. Alot of Thais have their head in the clouds when it comes to the real value of land. 

[Troy Tempest]

3 minutes ago, Hummin said:

Well, I would not hesitate to buy land with Chanote at that price if everything seems legit. Of course I would check out the land, the neighborhood check it with land office first. 

I agree......She knows the land very well because she was born and lived less than 3K from there.

 

My major concern was that the price has been dropped from 7m to 2m....I know that when doing business in Thailand they like to haggle, but that is a massive drop!......Her Dad thinks it is a bargain!

 

[warrima]

3 minutes ago, Troy Tempest said:

My major concern was that the price has been dropped from 7m to 2m....I know that when doing business in Thailand they like to haggle, but that is a massive drop!......Her Dad thinks it is a bargain!

Was there any big infrastructure projects mooted for the area. My inlaws had land near the proposed Ban Phai – Nakhon Phanom Railway. Before the final route was announced land agents were floating around speculating and prices were crazy - like 10X. In the end it was no where near the train line. 

[Troy Tempest]

4 minutes ago, spidermike007 said:

I had a car I was asking $200,000 for. When I dropped the price to $30k, it sold. What they were asking and what it is worth sometimes has no correlation. Do your research. Alot of Thais have their head in the clouds when it comes to the real value of land. 

Thanks mate!...I am trying to do that...Part of which involves asking you lot on TVF or AseanNow as they want to be called these days!

 

BTW have you been to Samui again recently?......It is slowly coming back to life and not quite the Apocalypse you described previously!

 

I am loving it!....Hardly any TW@T Farangs wearing absolutely useless Toy Crash Helmets and falling off their motorbikes every 5 minutes and the beaches are practically empty!

 

 

 

[KhunLA]

Sounds high, assuming it would need to be backfilled to build on.  We just got our appraisal, for 1 rai, on the other side of Udon Thani, toward NBLP.  NaDi district, less than 1 km to local village, only 15 kms from UT Central Plaza, 8 kms to large Lotus Mall & 12 kms to airport, on road w/electric & water.  Cleared & ready to build on.

 

Surely worth more than farmland off Rt 22 out of town on the way to SN.  It would cost much more than another 300k to simply backfill each rai to build on.  That would put it way more expensive than we could possible sell our rai for, which I'm hoping for 600k, but no bites in 4 yrs.  Offer ฿1m, no more, and that's being generous.

 

It's farmland, and nothing else, since being 100 kms from downtown Udon Thani, and 75 kms from downtown Sakon Nakhon

[Troy Tempest]

3 minutes ago, warrima said:

Was there any big infrastructure projects mooted for the area. My inlaws had land near the proposed Ban Phai – Nakhon Phanom Railway. Before the final route was announced land agents were floating around speculating and prices were crazy - like 10X. In the end it was no where near the train line. 

No big infrastructure!......

 

This is Isaan....Middle of nowhere!

 

But, 2 hours from Udon Thai Airport and about 90 mins to Sakon Nakhon.

 

15 minutes to Main Road.

 

[Troy Tempest]

5 minutes ago, KhunLA said:

Sounds high, assuming it would need to be backfilled to build on.  We just got our appraisal, for 1 rai, on the other side of Udon Thani, toward NBLP.  NaDi district, less than 1 km to local village, only 15 kms from UT Central Plaza, 8 kms to large Lotus Mall & 12 kms to airport, on road w/electric & water.  Cleared & ready to build on.

 

Surely worth more than farmland off Rt 22 out of town on the way to SN.  It would cost much more than another 300k to simply backfill each rai to build on.  That would put it way more expensive than we could possible sell our rai for, which I'm hoping for 600k, but no bites in 4 yrs.  Offer ฿1m, no more, and that's being generous.

Thank you for your reply.

 

Excuse my ignorance, but what is "back fill"???

 

BTW have you considered lowering your price?

 

Times are Very Hard!.....For Poor People!

[KhunLA]

35 minutes ago, Troy Tempest said:

Thank you for your reply.

 

Excuse my ignorance, but what is "back fill"???

 

BTW have you considered lowering your price?

 

Times are Very Hard!.....For Poor People!

If rice land, or most farmland, then it will be graded below the level of the road.  To build on, you would prefer it just a tad above road level.  Backfill is just simply term for adding dirt to top it up and level it off, which, will add the cost of tractor to do so, beside cost of dirt / fill.   Depending who you buy dirt from, tractor may be included in th price.

 

That's usually cost per truck, and depending how weight laws are enforced, in the area, then full dump truck (large), or half full will be allowed to deliver.  Or full smaller trucks.  The cost adds up fast, depending how low the land lies.

 

Haven't a clue what the cost is now per truck, as been 15+ since ordering.

 

Wife is patient, as we sold 2 rai last year for 650k each.  As I posted on another thread, I personally won't pay more than appraised price, since buying as investment, (land office will tell you), but most seem to pay 3-5X the appraised price & up, for chanoted leve building lots.

 

She or me, won't go below 600k, so poor folk won't be buying.  Even though I consider ourselves to be motivated sellers.  It's the cheapest lot in the area.

[Boomer6969]

58 minutes ago, Troy Tempest said:

Yes the land is Chanote! And I know her family very well!.....

 

I get on with them really well and they keep inviting me to visit.

 

We were last up there in March this year.

 

I help them with their farms sometimes picking mangoes and other stuff and always catch loads of fish from their ponds for the barbecue!

 

So the suggestion to offer 1.5M is a good one. Do it, otherwise you'll look like an idiot. You'll buy the land for less than 2M, how much I can't tell. But you'll get better sex from your GF and bigger smiles fro  the villagers,

[KhunLA]

13 minutes ago, Boomer6969 said:

So the suggestion to offer 1.5M is a good one. Do it, otherwise you'll look like an idiot. You'll buy the land for less than 2M, how much I can't tell. But you'll get better sex from your GF and bigger smiles fro  the villagers,

1.5m buys a lot of sex, and will they be smiling at you, or laughing at you ????

 

If it doesn't need to be backfilled, then certainly not a bad price 1.5 - 2m.  If needing backfilled, the final price could easily be 2-5X as much as that 2m.  Get a price for backfilling 1 rai now, and double whatever is quoted, before even thinking about buying.

[CharlieH]

It mag well have been worth alot more in days gone by as a working rubber farm and going concern. However its now cleared, so its just farmland.

You have been with the family long enough to know them. I doubt they would knowingly stiff you !

So, go with your gut !

[1FinickyOne]

For farmland what you want is road access and [can be a minor road but should be a public road - and water... is there a well? 

 

my point of reference is fertile land meeting the above requirements in Central Thailand - 3 crops a year... 160,000 baht about a year ago... might be 200,000 now. 

 

Hate to suggest this but it could be the family sticking it to you... used to be 7MM but for you, act now, bargains galore, 2MM baht... I have been here a long time and never saw land valued at 7MM dropped to 2 MM... nowhere in the world for anything... 

[spidermike007]

1 hour ago, Troy Tempest said:

Thanks mate!...I am trying to do that...Part of which involves asking you lot on TVF or AseanNow as they want to be called these days!

 

BTW have you been to Samui again recently?......It is slowly coming back to life and not quite the Apocalypse you described previously!

 

I am loving it!....Hardly any TW@T Farangs wearing absolutely useless Toy Crash Helmets and falling off their motorbikes every 5 minutes and the beaches are practically empty!

 

 

 

Thanks. Heading there soon. Good to know. It is a beautiful island. Nice when it is not infested with tourists! 

[EVENKEEL]

1 hour ago, Troy Tempest said:

No big infrastructure!......

 

This is Isaan....Middle of nowhere!

 

But, 2 hours from Udon Thai Airport and about 90 mins to Sakon Nakhon.

 

15 minutes to Main Road.

 

The 7 rai I paid for is like 20 min to Makro and the Airport in Sakon, lies south. As I said before cost was 460K/ 14 yrs ago, no haggling so I probably paid too much. I hope 2 mil is fair, means land prices have gone crazy.

[EVENKEEL]

I just went on ddproperty and 2M for 7 rai could be.......could be a fair price.

[Troy Tempest]

1 hour ago, 1FinickyOne said:

For farmland what you want is road access and [can be a minor road but should be a public road - and water... is there a well? 

 

my point of reference is fertile land meeting the above requirements in Central Thailand - 3 crops a year... 160,000 baht about a year ago... might be 200,000 now. 

 

Hate to suggest this but it could be the family sticking it to you... used to be 7MM but for you, act now, bargains galore, 2MM baht... I have been here a long time and never saw land valued at 7MM dropped to 2 MM... nowhere in the world for anything... 

I agree 100%, but I know the family (after 11 years) and visited them many times!

 

They are wealthy in their own right!......And so is my girlfriend!

 

They do not need to "Stitch me UP" and I treat them as family which is reciprocated!...

 

And besides it is not me or any of my money involved!.....My GF simply asked me what I thought about it and so as well as other "Due Diligence" I thought I may ask you lot on TVF!