Buriram Farmland Prices

[expatman]

Wife wants to buy some land next to current plot. The land is basically paddy-field, no trees, located 5-6 kilometers outside Buriram town on a 1 lane gravel road with electricity and water, a few hundred meters off a main 2 lane paved road.

The initial suggested price was 300,000 - 400,000 for 1 rai, including chanote.

The seller now wants 550,000 Baht.

Comments on whether price is too high/low appreciated.

[darkside]

Wife wants to buy some land next to current plot. The land is basically paddy-field, no trees, located 5-6 kilometers outside Buriram town on a 1 lane gravel road with electricity and water, a few hundred meters off a main 2 lane paved road.

The initial suggested price was 300,000 - 400,000 for 1 rai, including chanote.

The seller now wants 550,000 Baht.

Comments on whether price is too high/low appreciated.

I think you may want to take a zero off the end of those figures, my wifes village is about 25km outside Buriram on the road to Satuk and paddy fields go for between 20,000 to 30,000 baht a rai.

[farangnoi]

Wife wants to buy some land next to current plot. The land is basically paddy-field, no trees, located 5-6 kilometers outside Buriram town on a 1 lane gravel road with electricity and water, a few hundred meters off a main 2 lane paved road.

The initial suggested price was 300,000 - 400,000 for 1 rai, including chanote.

The seller now wants 550,000 Baht.

Comments on whether price is too high/low appreciated.

I think you may want to take a zero off the end of those figures, my wifes village is about 25km outside Buriram on the road to Satuk and paddy fields go for between 20,000 to 30,000 baht a rai.

Same opinion for me, my wife and me bought 1 rai in the village,at the road (concrete), with water and electricity for less then that (450.000)

[oceanrover]

That does seem rather high. My wife purchased one rai for her parents in the village on the paved road with power and water for 200,000 BHT and that included 1.5 meters of fill to raise it up. Granted it is north of Ubon, but the prices seem to be similar to Buriram as long as you are well outside the city.

Mike in Seattle

[ray23]

Just a thought did they know a farrang was involved? Not a good idea if that was the case.

[Thaicoon]

Price gone up to 550,000, they have seen a ferrang, get someone else to ask, someone the seller does not know, i also am 4 Kms outside buriram, 5 months ago bought 2 rai building land, not rice paddy, for 220,000 baht, about 100 yards off the main Buriram - Surin road, electric water all on site.

Farm land is about max 30 to 40,000 per rai. on main highway it would be worth maybe 400,000, also further out of town you go cheaper the land.

Who ever is selling is seeing baht signs.

I am getting to Buriram on the 21st August, if you want to pop around my place i will show you our land and tell you what we have paid, this will give you a good idea, of what to buy and what to pay, as i am about the same distance outside the city.

Edited August 10, 2007 by Thaicoon

[Tilapia]

I think we have all been in this situation, and it all comes down to how bad you want it, that is what it's worth. In my case, I wanted to buy the land next to my farm, because of the klong there run thru it, price 50.000 baht/rai the land I already had, I've paid 30.000 baht/rai, one year earlier.

Regards

[llso]

I see these post about a rai in Buriram or some other place in Issan going for 2-300,000 THB. Since a rai is actually less than a half an acre. 2.5 rai =1 acre. that would mean the per acre price is 750,000 THB. That is about 23,000 USD per acre for farmland in Issan! Ridiculous to me, but then that's me.

[Joe Walshe]

We just finished paying 13,000 baht per rai for 200 rai with 2 year old eucalyptus trees on it near Chaiyaphum. we ahve been aproached by people from all over Esarn trying to sell us good land at good prices. It seems to me that it is a buyers market. Economy isn't doing great and farmers are suffering. Also, we had to exchange euros for Thai baht at very poor rate. If you are using foreign currency, I would wait to see if THB drops more in value.

[Thaicoon]

I see these post about a rai in Buriram or some other place in Issan going for 2-300,000 THB. Since a rai is actually less than a half an acre. 2.5 rai =1 acre. that would mean the per acre price is 750,000 THB. That is about 23,000 USD per acre for farmland in Issan! Ridiculous to me, but then that's me.

Correct, 1 acre 2.5 rai, its the old story as long as there are westerners wanting to buy, expect the price to be high, we bought most of our land 12 years ago, then about 10,000 a rai, at that time there were not many of us buying land in Buriram, people thought we were mad, but what i have done helped my thai family out no end, they now live quite well, also i was buying all the old Guiens and wheels up, to ship back to UK, the Thais used to laugh at me, Buying a Guien for 500 baht, and a wheel for 50 baht, look at the price of them now thats if you can get em.

[Gary A]

I see these post about a rai in Buriram or some other place in Issan going for 2-300,000 THB. Since a rai is actually less than a half an acre. 2.5 rai =1 acre. that would mean the per acre price is 750,000 THB. That is about 23,000 USD per acre for farmland in Issan! Ridiculous to me, but then that's me.

Correct, 1 acre 2.5 rai, its the old story as long as there are westerners wanting to buy, expect the price to be high, we bought most of our land 12 years ago, then about 10,000 a rai, at that time there were not many of us buying land in Buriram, people thought we were mad, but what i have done helped my thai family out no end, they now live quite well, also i was buying all the old Guiens and wheels up, to ship back to UK, the Thais used to laugh at me, Buying a Guien for 500 baht, and a wheel for 50 baht, look at the price of them now thats if you can get em.

My wife thought she had five rai bought for 100,000 baht. I went to have a look at it and the price suddenly went to 150,000 baht. I told my wife that no way would I pay a farang penalty. We walked away. A few weeks later they reconsidered and decided to accept the 100,000. I countered with a 50,000 offer. They were insulted by my offer. I told my wife to tell them I was insulted by them thinking they could rip me off.

[chownah]

One way to estimate the value of a piece of land is to think of why you are buying it.

If you want an investment then think of what the land can be used for. If its farming then its value is determine by the value of whatever crop can be grown...which is dependent on how much water is available and at what times of the year. Land whose only value is agricultural is really probably worth 50,000 baht per rai maximum (ballpark estimate) since if you invested the 50,000 baht in a bank CD account at 5% you would be getting 2,500 baht per year return for doing absolutely nothing and this is about the same as you can expect to get by farming it in most situations (ballpark)unless you have some special type of farming that you are expert in and you know it will pay more....which is unlikely.

If you buy as an investment in land then consider how much similar land is available and what is the likely increased demand for usage of this type of land. What I mean by this is if you are buying land to eventual resell as undeveloped land for residential use then consider how fast the village is growing and how many rai of land just like yours are available for these people to use to develop homes on and then consider why they should buy your land if alot of other land is available too. Unless there is alot of people who want to live in your area for some reason then its unlikely that prices will go up appreciably especially if you buy in at the top of the price scale.

If you want to buy land and then build on it and sell the buildings then that is really not investing in land but running a construction business which is another kettle of fish entirely.

Of course you might not buy the land as an investment but you might buy it for hobby purposes (hobby farming) or just to assure that you have peace and quiet for the rest of your life because you have no close neighbors. These last two reasons are why I bought land adjacent to our house in the north....a guarantee of no neighbors and I like to do small scale farming for fun and any profit is incidental. I paid 75,000 or 85,000 baht for our land in parcels of from 2 to 6 rai and now have a total of about 11 rai. I have irrigation water some of the time and the ground water is near the surface even in the dry season so there is good farm potential...but....I do not consider that it is a good investment from a business standpoint and if I was approaching farming from a business standpoint then I would be acting like a very bad business man because I almost assuredly will never make a profit from farming big enought to justify the cost of the land.

Chownah

[ray23]

You know real estate in some ways here is the same as at home yuo want a good deal, you need to find a motivated seller. Things keep going as they seem to be that might be a lot easier in the next year.

I really liked that one Gary seems fair to me.

[mailman]

Wife wants to buy some land next to current plot. The land is basically paddy-field, no trees, located 5-6 kilometers outside Buriram town on a 1 lane gravel road with electricity and water, a few hundred meters off a main 2 lane paved road.

The initial suggested price was 300,000 - 400,000 for 1 rai, including chanote.

The seller now wants 550,000 Baht.

Comments on whether price is too high/low appreciated.

Expatman, I was in pretty much the same kind of location as you outside of Buriram and the falang quoted price for the rice growing land last year was 60,000-80,000 baht per rai. I was told that we could probably get it down to 40,000 per rai, but passed on it. Still too expensive for me.

Now this was for about 190 rai of chanote paddy fields. Shouldn't there be some sort of quantity discount for purchasing of larger plots of land like this? I mean, if someone would ask 30,000 baht per rai for 12 rai, then would you expect it to be 25,000 for the 100 rai and maybe 20,000 for the 190 rai? Has anybody been able to do this or don't Thai's think or deal like this?

Edited August 10, 2007 by mailman

[joeuk1]

I hear all the time of land thats only worth 20k a rai , i just have never been lucky enough to find it . I am 30k a rai bid for 200 rai anything Buriram near main road that has electric .

Go make yourself some money boys .

JB

PM with photos i will be in buriram mid sept .

[Tilapia]

I see these post about a rai in Buriram or some other place in Issan going for 2-300,000 THB. Since a rai is actually less than a half an acre. 2.5 rai =1 acre. that would mean the per acre price is 750,000 THB. That is about 23,000 USD per acre for farmland in Issan! Ridiculous to me, but then that's me.

Correct, 1 acre 2.5 rai, its the old story as long as there are westerners wanting to buy, expect the price to be high, we bought most of our land 12 years ago, then about 10,000 a rai, at that time there were not many of us buying land in Buriram, people thought we were mad, but what i have done helped my thai family out no end, they now live quite well, also i was buying all the old Guiens and wheels up, to ship back to UK, the Thais used to laugh at me, Buying a Guien for 500 baht, and a wheel for 50 baht, look at the price of them now thats if you can get em.

My wife thought she had five rai bought for 100,000 baht. I went to have a look at it and the price suddenly went to 150,000 baht. I told my wife that no way would I pay a farang penalty. We walked away. A few weeks later they reconsidered and decided to accept the 100,000. I countered with a 50,000 offer. They were insulted by my offer. I told my wife to tell them I was insulted by them thinking they could rip me off.

Hi Gary.

I agree with your way, it works great if you have time to wait, but if you are in a hurry and dont want risking losing the deal to someone else, then the only thing to do is get out the "green" and suck it up.

Regards

[Manxy]

Hello to everyone in Buriram. I have been looking to buy 12 Rai of land not far outside of Buriram city.

In small village consists of one large rice field and another large field with a small lake.

The wifes father currently works the land for the current owner but can purchase for

approx £10.000.

Is this a fair price?? I am planning on building a small house in Buriram as i have

two children with my thai wife, so its really something for them.

I will be back in Buriram in about 6 month. Cheers.

[Manxy]

quiet here

[joeuk1]

quiet here

Manxy

There are no set rules to land prices its all about finding a seller that wants to sell at a fair price and the land being suitable for what you want . When you are next in Buriram if you make it known that you want a piece of land you will get dragged around all day looking at different plots of land that is for sale .

If it were me i would find a few plots of land that suited me and ask the owner if they would like to put a price on it .

JB

[joeuk1]

Hello to everyone in Buriram. I have been looking to buy 12 Rai of land not far outside of Buriram city.

In small village consists of one large rice field and another large field with a small lake.

The wifes father currently works the land for the current owner but can purchase for

approx £10.000.

Is this a fair price?? I am planning on building a small house in Buriram as i have

two children with my thai wife, so its really something for them.

I will be back in Buriram in about 6 month. Cheers.

Manxy

Just seen this post if its in a location that you and your wife like and will be happy and it has electric and you will get water then imho at 60k a rai its a good price .

JB

[fruity]

As JoeUk says 60k per rai is a fair price, especially, when it's near the wifes family. Buriram is somewhat pricier than many Issan provinces per rai. Near my home (18kms from city) There is land for sale @ 350k & 400k per rai on the highway, in my village 4 rai has just been sold for 500k & we are currently in negotiation to buy land near our place @ in excess of 100k per rai. Forget the 'farang' element, there is very little of the double pricing here, such as one finds in Pattaya etc, only in the minds of those obsessed with such things.

Like anything, land is worth just about as much as somebody will pay, circumstances alter cases & prices.

[Manxy]

Joeuk! and Fruity thanks for the info. The land has electricity and on road so it may be a good idea to buy, before the prices go up.

What do you find to do in Buriram all year!!!! I stayed in muang for a month, there is not much in town, just bamboo bar or the thai nightclub speed. Hopefully i can catch up with some of you as its nice to speak to another who actually understands english.

Im from the Isle of Man where in the UK are others from???.

Anyway thank you again for the help and take it easy.

[macb]

Well I would be looking at around 20/25.000 bht for a rice field :

It seems to me that they saw you coming, I get that all the time my reply is not today thank you or any other day:

Dont forget to ask about the land papers as well: Heres a quick explanation

[fruity]

Hi Manxy

Kinda guessed you were an IOM man by the handle:) I say buy, it certainly isn't dear & with electric / on a road; good price. Mac, to be offered land at 25k per rai in Buriram & not buy is madness! Unless it is landlocked in the middle of nowhere only accessible by helicopter with no chanod.

Manxy, if you are a party animal, Buriram probably isn't the place, however, there are loads of good places for a night out; never been in the notorious Bamboo bar myself?....Personally, I sometimes find there aren't enough hours in the day, we have lots of livestock here & are always busy with something or other.

Fruity

[joeuk1]

Hi Manxy

Kinda guessed you were an IOM man by the handle:) I say buy, it certainly isn't dear & with electric / on a road; good price. Mac, to be offered land at 25k per rai in Buriram & not buy is madness! Unless it is landlocked in the middle of nowhere only accessible by helicopter with no chanod.

Manxy, if you are a party animal, Buriram probably isn't the place, however, there are loads of good places for a night out; never been in the notorious Bamboo bar myself?....Personally, I sometimes find there aren't enough hours in the day, we have lots of livestock here & are always busy with something or other.

Fruity

Fruity

There is NO land for sale in Buriram or near Buriram that is roadside with electric @ 25k a rai it just does not exist . I have had Thais look for land for me and have posted on the different boards and offered finders fees for land at these numbers and have not managed to buy land at 25k yet .

JB

[Manxy]

Have to agree, no chance of buying a rai of land in Buriram on roadside for 25,000 baht. Its just never going to happen.

Take a look at land prices on the Kasicorn bank land/property section, you will be in for a big surprise.

I would say anywhere decent minimum price 50,000 per rai.

Even so i dont think many thai farmers in buriram would sell their future for so little money. Afterall you dont see too many people in muang starving.

PS Thanks mac for the document info.

[mailman]

It seems to me that posters are talking prices for two different kinds of land. Some are talking about farm land prices and others are talking land for building. It sounds like building land can be twice as much, depending on the location, access to water and power, etc.?

As far as Kasikorn Bank (not my favorite) or any bank that has a book of foreclosed properties, I was told to take the prices they listed with a grain of salt. Others have said to find out what was owed the bank and make an offer from there. Anybody have any actual experience buying land from banks and what can be expected as far as price?

[Tilapia]

It seems to me that posters are talking prices for two different kinds of land. Some are talking about farm land prices and others are talking land for building. It sounds like building land can be twice as much, depending on the location, access to water and power, etc.?

As far as Kasikorn Bank (not my favorite) or any bank that has a book of foreclosed properties, I was told to take the prices they listed with a grain of salt. Others have said to find out what was owed the bank and make an offer from there. Anybody have any actual experience buying land from banks and what can be expected as far as price?

There can be made some good deals, the way to get it cheapest is to bid on the land there is under the hammer for the 3rd time, then it "must" be sold or the bank will bid themself. Send somebody in your place, if a farang is bidding the price goes up, because the others think that there must be something special about that land since the farang wants it.

Regards

[nitehawk56]

My soon to be Thai wife, lives in SisaKet, and was checking on some land in her village, 1 rai 60,000 baht, 2 rai 110,000 baht, not farm land, future home site; has electric and water, wife does not want to live on same land with Mama and Papa, she also has an Aunt who wants to sell 23 rai, this is rice field land for 210,000 baht, now, what I would like to ask is can someone give me the correct measurement for 1 rai of land, some say a half acre, and some say one quartar acre, I would like to know for sure, 2 rai of land has lots of fruit trees on it, I'll be looking at it in Sept.

[expatman]

My soon to be Thai wife, lives in SisaKet, and was checking on some land in her village, 1 rai 60,000 baht, 2 rai 110,000 baht, not farm land, future home site; has electric and water, wife does not want to live on same land with Mama and Papa, she also has an Aunt who wants to sell 23 rai, this is rice field land for 210,000 baht, now, what I would like to ask is can someone give me the correct measurement for 1 rai of land, some say a half acre, and some say one quartar acre, I would like to know for sure, 2 rai of land has lots of fruit trees on it, I'll be looking at it in Sept.

1 rai = 400 square wah, 1 wah = 2 meters

so 1 rai = 16,000 square meters (40m x 40m if a square plot)

don't know how much that is in terms of acres or square feet, but you could figure it out