Land Value In Surat Thani

[ThaiPauly]

My Wife's Brother has constantly offered Her what seem to be apparantly good deals on land for either rubber, palm or housing over the last three years. Opportunities we have missed out on have turned out to be valuable land deals according to my Wife. But I always resisted as the prices were always in the millions.

They are a geniine famiy and I am pretty sure I am not being scammed, but having read the other thread about land in Chumpon I am wondering if the price is too high?

How does one value land down South?

It IS very flat and very square and a 5 minute drive down a track from the main road near the KFC and civilisation, our thoughts were to build a motel there with rooms rented out at 200-300 Baht a night, nit that we have given the idea that much thought as the offer only came to us yesterday. I dont want to be a rubber or palm oil farmer, so the land would not be used for that, otherwise I would consider something more remote and far chaeper.

The seller wants to sell quickly at 150,000 Baht a rai for 5 rai her brother (who I trust 100%) says this is a good deal as does my Wife who hails from that area. He says if we dont act quickly it will be gone by the weekend...but that sounds like a line I used to sell advertising space, you never know if its true or not...if its still there next week than its false and if its goe it was true and we have missed out!!!

Anyone any ideas?

Thanks

TP

[LaoPo]

My Wife's Brother has constantly offered Her what seem to be apparantly good deals on land for either rubber, palm or housing over the last three years. Opportunities we have missed out on have turned out to be valuable land deals according to my Wife. But I always resisted as the prices were always in the millions.

They are a geniine famiy and I am pretty sure I am not being scammed, but having read the other thread about land in Chumpon I am wondering if the price is too high?

How does one value land down South?

It IS very flat and very square and a 5 minute drive down a track from the main road near the KFC and civilisation, our thoughts were to build a motel there with rooms rented out at 200-300 Baht a night, nit that we have given the idea that much thought as the offer only came to us yesterday. I dont want to be a rubber or palm oil farmer, so the land would not be used for that, otherwise I would consider something more remote and far chaeper.

The seller wants to sell quickly at 150,000 Baht a rai for 5 rai her brother (who I trust 100%) says this is a good deal as does my Wife who hails from that area. He says if we dont act quickly it will be gone by the weekend...but that sounds like a line I used to sell advertising space, you never know if its true or not...if its still there next week than its false and if its goe it was true and we have missed out!!!

Anyone any ideas?

Thanks

TP

Baht 750,000 for 5 Rai...

Euro* 15,000 for 5 Rai too expensive ? Hmmm....

* US$ 21,000

* GBP 10,500

Building a Motel doesn't sound too bad. Where can one find 5 Rai for that price to build a Motel ?

LaoPo

[g00dgirl]

You say a "5 minute drive down a track", land on a road would be more convenient if you want to build on it, if it's a dirt track it might not be fun especially when it's raining, and if it's 5 minutes of no proper road it sounds expensive to build your own road all the way, don't count on anyone to build one for you.

Do you know if you can get water on the land?

Do you know if how much it will cost you to get electricity and phone lines to the land?

[donx]

Land that I would consider good for building a motel either has to be centrally located or on a main road. If the land you are talking about is neither then don't bother buying it to build a motel. There are already several low cost motels around that area.

It sounds to me that the price per rai is too low for the land to be in a central location or on a main road. Southern farm land sells for between 30,000 and 100,000 baht per rai. Land good for building a house is usually more than 150,000 baht per rai. For example, plots of land in rural villages of less than 100 talang wah go for at least 100,000 baht. I suspect this land is off the beaten path but easily accessible. Probably could be used for building houses but not near any others at the moment. I would definitely want to know its location before buying it.

Nevertheless, I think your wife and her brother are right. That land is likely to be a good value especially if held as an investment for a few years.

[Mobi]

I don't know the situation down South, but in certain parts of the country the land is only allowed to be used for agricultural purposes. This needs to be checked out.

It sounds like a lot of money to come up with by the weekend, and that will only be the start if you decide to build on it.

I know the land may be a good investment, but do you really want to get this heavily involved, so quickly in something which is a long,long way from where you now live?

My advice is if you don't need to do it - then don't - and certainly not in this much of a rush. It all needs to be thought through and investigated very carefully.

I'm sure there will be other plots of land that will become available later if you decide to get into the motel business.

[Khun Jean]

A better deal is always coming. There is so much land for sale that it would have te be an incredible good location to be in a hurry.

I think waiting after the weekend and if the location is nice and it has a chanote and it is easy to reach and it has the connection for water ,telephone and electricity nearby then an offer of around 100.000 per rai seems like a price at around market value. Anything else a price around 30-50.000 per rai sounds in the right range.

[Khun Jean]

Baht 750,000 for 5 Rai...

Euro* 15,000 for 5 Rai too expensive ? Hmmm....

* US$ 21,000

* GBP 10,500

Building a Motel doesn't sound too bad. Where can one find 5 Rai for that price to build a Motel ?

LaoPo

Seriously, about anywhere in Thailand not on the main road or close/in a city.

30 rai for 1.5 million about 30 km's from Hua-Hin. 2.5 million for 72 rai 20 Km west of Cha-am. Etc... Etc..

Just have a look at some reposessed properties by the banks.

A lot of not so prime land for sale. The best land is picked up by the bank's director or family and friends.

[ThaiPauly]

Thanks for all the replies so far.

I have discussed it again with my Wife and She thinks that just by buying we will get a good ROI in 2 years or so as land prices dont go down......thats her way of thinking...She will make more money by buying this than having money in the bank as the spot would be a good one for a house or motel. Not that I would be interested in building or really running one.

She thinks that by me posting on TV I don't trust her judgement as her brother has made a lot of money doing just this sort of thing.

Rock and a hard place is an expression that comes to mind !!!

TP

[lazeeboy]

Thanks for all the replies so far.

I have discussed it again with my Wife and She thinks that just by buying we will get a good ROI in 2 years or so as land prices dont go down......thats her way of thinking...She will make more money by buying this than having money in the bank as the spot would be a good one for a house or motel. Not that I would be interested in building or really running one.

She thinks that by me posting on TV I don't trust her judgement as her brother has made a lot of money doing just this sort of thing.

Rock and a hard place is an expression that comes to mind !!!

TP

sounds like your wife wants the land to me ,so well done on aquireing your new piece of property

[oxymoron]

Thanks for all the replies so far.

She thinks that by me posting on TV I don't trust her judgement as her brother has made a lot of money doing just this sort of thing.

Rock and a hard place is an expression that comes to mind !!!

TP

Yes she's right my TW knows that after 20 years if its to do with business in Los I still do not trust her judgement.

Of course her brother has made lots of money, promoting land deals like this.

Rock and Hard place ??? If she wants to invest in deals like this let her use her own money that she has worked hard for and paid tax on etc etc

[sbk]

///MOVED///

[sbk]

Where exactly in Surat is this land? Is the access road public or private? If private then the right of access to your land would have to be guaranteed, which could be the reason they are selling.

[ThaiPauly]

Its outta town, near the airport and very close to the out of town shopping mall where the KFC is, on the main road to Nakon Si Thamarat (spelling).

The land has a chanotte title and needs no filling, there is electricity and water at a house on an adjoining piece of land and the track has some substance to it.

I have some pics, but its just green grass, same as anything else you would see.

I dont really have a problem putting some land in my Wife's name, I want to provide for her when I am gone, sure she has the house here in CM, but she was going to have ownership rights to a 3m baht condo in BK that we got our deposit back on because the project was years behind schedule.

I wanted to buy somewhere on an island as an investment for here future, as all the money I have made in my life stays offshore and will go to my sons as will my property in the UK, but she is not interested in an island home , and that would be a lot more money, after 5 years I know she is not after me for what she can get,(I even sold her car and have 2 in my name now and she did not complain about that)the other upside for her is that she would probably move back to Surat if anything happened to me and this land is very close to where her family live. So if she sold up in CM she could build herself a nice house in the town she hails from.

I have never foolishly invested in poperty in LOS, and even if she just kept the land for another 10 or 20 years, if its where she wants to be when I am gone then I really dont have a problem with that.

Her brother does not make money putting deals to other people, as they are quite a large sucessful family, all owning their own businesses, he just puts forward to My Wife anything he hears about that he thinks is a good , sometimes if we dont take up the offers , as we have not so far, he buys, then sells a few years later at a profit.

I don't think there is no hidden agenda as far as I can see, but hey they all know farangs have money.

She expects my trust, and she has it...but not blind faith, (we have had a few businesses that have not worked out to well),her family has my trust at about 80%, thats about as high as I can go.

All I really want to know is if the price for this area is fair or not from another source other than her family

Many thanks

TP

We just have to go with our instincts.

[sbk]

The price is extremely fair, but only if the access to the main road is guaranteed

[donx]

The price is extremely fair, but only if the access to the main road is guaranteed

If, like you say, it is "on the main road", then I agree with sbk. Land with main road access is usually much more expensive. The reason is that such land can easily be used for commercial ventures such as gas stations and motels.

[ThaiPauly]

Its NOT on the main road. A five minute drive off it.

Thanks Donx and SBK...but I am still not sure

[donx]

Its NOT on the main road. A five minute drive off it.

Thanks Donx and SBK...but I am still not sure

I suppose you meant that the shopping center was on the main road to Nakhon Si Thamarrat. "A five minute drive off it", could mean so many different things - paved or dirt road. I think the shopping center you are referring to also has a Tesco Lotus. If so, then I know the basic area you are referring to. It has been an up-and-coming area with moo baans, spa, good restaurants and nice hotels being built. I haven't been there for two years though so I don't know much about how things are there now.

[Khun Jean]

I think it is hard to make a decision.

So many variables. I think you should at least take a look at the land and research the area around it. Might ask some questions for other land that is for sale, so you can compare the price.

It does not sound expensive and who knows. A lot of cities in Thailand are expanding rapidly.

If you can just keep it like an investment, without going overboard and start building right away, you might have a good deal.

For making a business there are so many other factors. Location is for business absolutely the most important part.

At first it does not really sound ideal for a business, not now, but it might be in a few years when houses and shops are being build in the vicinity.

Good luck with your decision.

[sbk]

I know it isn't on the main road but if right of access is not guaranteed then the land is not worth buying, the owner of the land that is used to access the road could easily block your access. I've seen it done before, and to Thai people not farang.

[h90]

if anyone know a cheap land, maybe 3-5 rai, not direct on the beach, but not tooooo far away, please contact me (must south)