Do land prices appreciate or depreciate? Nonthaburi Region.

[leclec]

Looking at purchasing land at Nonthaburi region. Roughly 1-2 rai

 

My question is do guys forecast land prices to appreciate or depreciate in value in the next few years. I have enough money to purchase the land but not enough for the infrastructure that I want. Will require another 3-5 years before I can save enough cash to start building.

 

Should I purchase the land first or wait 3-5 years before purchasing the land and start building

 

Cheers.

[KhunLA]

Appreciate, as long as choosing wisely.  

 

'Infrastructure' statement gives me a bit of pause if value.  Not sure what you mean.   Waiting ... then land may appreciate out of your budget.

 

Infrastructure ? ... is it far from main road, with or without electric/water service.  Could add considerably to cost.

[ChaiyaTH]

A matter of time before prices come down, it is already happening in various places, Chiang Mai too. Worldwide in fact, we can expect prices to come down sooner or later, a financial crisis can not be avoided long anymore.

 

Everyone told me to rush a few years ago while I now get the same for 30% less already, or the same prices but much more land / extra living space and bedroom.

 

You would be more wise to invest the money in gold 3-5 years, and do everything at once.

[KhunLA]

Hasn't been my experience with 'land' prices.   Matter of fact, missed golden opportunity where we bought land and live now.

 

We paid 76k.

4 ish yrs later, bought the lot across from us for 250k

 

Lot 3 lots down sold a month of so later for 450k

 

Then next lot, a month later, sold for 650k.  We probably could have bough each of them, for <100k, when we bought.

 

... oops ????

 

Prior lot we bought, bit smarter.  1 parcel, 6 lots for 720k

 

Sold 3 for 500k each

2 for 650k

1 for 550k

edit: sold 10 yrs after purchase. Nice appreciation/profit made.

[Lacessit]

IME land always appreciates in value, there are very few places on the planet where they make more of it.

There may be some fluctuations, based on interest rate settings, but the trend is always up longer term.

[VinnieK]

Land prices never depreciate in Thailand.

Even in the middle of a depression.

The only time you will find it cheaper is when banks auction foreclosed properties.

[BE88]

1 hour ago, VinnieK said:

Land prices never depreciate in Thailand.

Even in the middle of a depression.

The only time you will find it cheaper is when banks auction foreclosed properties.

I agree, real and unofficial inflation over the next 5 years should also be taken into account.

[flexomike]

3 hours ago, leclec said:

Looking at purchasing land at Nonthaburi region. Roughly 1-2 rai

 

My question is do guys forecast land prices to appreciate or depreciate in value in the next few years. I have enough money to purchase the land but not enough for the infrastructure that I want. Will require another 3-5 years before I can save enough cash to start building.

 

Should I purchase the land first or wait 3-5 years before purchasing the land and start building

 

Cheers.

first question are you married to a Thai

[Kinnock]

I don't think land will depreciate (unless you over-pay), as it's a finite asset.  But with the restrictions on foreigners buying land, prices only tend to increase in line with inflation in Thailand, unless there are special external factors such as a new BTS line, or electricity and water arriving at rural land.

 

So if you don't see any likely external factors,  you may as well keep the money in an account that pays decent interest until you need to buy.

 

[CharlieKo]

From Thai PBS.

 

After a 12-month delay, the Thai Treasury Department will put into force a new national land appraisal price list for 2023-2026 on January 1st 2023. It will see the appraisal price for land in Bangkok rise by about 3% and in other provinces by an average of 8%.

[Sandboxer]

Arable decent quality farm land, or any land near major roads....always a good buy now and in the near future when presented the chance.

 

Just for example, I've been looking at highway-vicinity plots in central Buriram for a house build about 15km from the big city and already a 20, sometimes 30%-ish increase from a coupla years ago.

 

In Phuket where I'm based....absolutely bonkers how the prices have increased the last 7-10 years. Basically Hawaii/Oahu level.

[Peterw42]

16 hours ago, ChaiyaTH said:

A matter of time before prices come down, it is already happening in various places, Chiang Mai too. Worldwide in fact, we can expect prices to come down sooner or later, a financial crisis can not be avoided long anymore.

 

Everyone told me to rush a few years ago while I now get the same for 30% less already, or the same prices but much more land / extra living space and bedroom.

 

You would be more wise to invest the money in gold 3-5 years, and do everything at once.

Where, in the known universe, is property 30% less than it was a few years ago ????

[leclec]

On 8/20/2023 at 3:15 PM, KhunLA said:

Appreciate, as long as choosing wisely.  

 

'Infrastructure' statement gives me a bit of pause if value.  Not sure what you mean.   Waiting ... then land may appreciate out of your budget.

 

Infrastructure ? ... is it far from main road, with or without electric/water service.  Could add considerably to cost.

Basically intending to build a new house on that piece of land that is currently inhabited so it is with electric/water.

[leclec]

On 8/20/2023 at 3:25 PM, ChaiyaTH said:

A matter of time before prices come down, it is already happening in various places, Chiang Mai too. Worldwide in fact, we can expect prices to come down sooner or later, a financial crisis can not be avoided long anymore.

 

Everyone told me to rush a few years ago while I now get the same for 30% less already, or the same prices but much more land / extra living space and bedroom.

 

You would be more wise to invest the money in gold 3-5 years, and do everything at once.

Thanks for your insight, where I come from (Singapore) land is scarce and will always appreciate. However seeing that Thailand has a surplus of land, not sure if that will be the case as well.

[leclec]

On 8/20/2023 at 7:03 PM, flexomike said:

first question are you married to a Thai

Yes I am,