Paying The Right Price?

[bolt]

Hi I need some info for a friend,

He has been offered 7 Rai of rice land for 300,000 is that the going rate in Buiram.

i know it depends on location, but a standard figure(ish)

[Nomad97]

Rough rule of thumb - 30K per rai. Your 7 rai sounds a tad over the average price. However, remember it is all about the three L's - location, location and location!

[Boo]

location is key but as an fyi, hubby recently bought 50+ rai nor sor sam gor of rice fields for 17.5k baht per rai. In boonies in Khon Kaen, no elec or water on land but large pond.

So that price does sound a tad high but what utilities are there & what land title is it?

[fruity]

How long is a piece of string????........I am in Buriram; theres land in my village @ 300k per rai; main road location. As has been said, it is all about location. If the land is where your friends girl wants to be, how can it be dear? Like everything in the world; circumstances alter cases, we just bought some next to our place @ 100k per rai & could take profit on it. So many things to be taken into account when it comes to land valuation.

[ronthompson]

Depends on what u plan to use the land for and how bad u want to buy it.

42,500 is high for rice land. The reasons for such a difference in price of rice land include how far is it from a road, will u be able to plant, fertilize and reap without waiting for your neighbor to do his field. What shape are the paddies and what about trees n/on the paddies.

If u plan on using it for another purpose, hobby farming and it suites your needs OK.

Is it land surrounding your home and u want it for a buffer, OK

Is it old family land that u want to buy back for the family its high but, OK

If its close to Burriam, the way the city is growing, OK

I would not buy it for farming because its too small, Do not plan on making money with rice but it is fun being a rice farmer.

That's my opinion I live between Huairat and Krasang

[Bicko]

All of the above is good advice. It is not possible to give an opinion without knowing the location, availability of services etc but here is our experience. My wife has been buying quite a lot of rice farming land over the past 12 months. She is paying Bt15,000 to Bt20,000 per rai. There are no services (Power, water etc) and just a dirt track access so that is the bottom end of the scale i guess. As Ron said if it's close to town, the way things are moving in Buri Ram expect to pay a lot more. Give us more info and we can be more precise.

[Issangeorge]

I was just offered some rice land in Kalasin for 42,000 baht a rai. I offered them 40,000 and they turned me down. I don't really care if I buy it or not, but I understand they need the money and I doubt there is anyone else willing to buy it, so I would not be surprised if they come back to me and say they will take 40,000 baht, but as far as I'm concerned that was a one time offer and if they come back I will offer less. The land I was looking at is only 50 metres from a paved road, quite close to my village, has a red chanote, and is on the irrigation canal, so as rice land would fetch top price, but as far as I'm concerned red chanote rice land should sell between 30,000 to 40,000 baht. Of course the main factor that affects the value is how much you want the land and how much do they want to sell, and of course is there anybody else who wants to buy it.

[bolt]

Thanks for your replies I will forward them to my friend who is too shy to ask

[chuck6660]

18 months ago my wife and I purchased 7 rai of land in Koh Meung outside Buriram. We payed 250,000 baht for the land, an asphalt road runs along the front of the land. When we bought the land it had chili's growing on it, but a local farmer planted rice on the land last winter, my wife's father collects 1/2 the profit from the farmer and checks on the land. I doubt if we will build on the land as we also have a 1 rai lot in Buriram City and a house in BKK. Like Ron Thompson mentioned "I will be a small time Issan rice farmer."

[Thaicoon]

Location, Location, Location, we have over 100 rai around Buriram, some of our land is 4 clicks out in the village, just off main road to Surin, 1 rai is going for 300k+ in the village, there is a plot for sale next to some land we own, 2 rai, the bank are selling, 510,000 baht, and as everyone knows the bank sometimes does a good deal on repossesed land etc, my wife has put in an offer for this.

5 Years ago we gave 750,000 baht for 6 Rai, with 2 small bungalows, landscaped with fruit trees and all sorts of tropical plants, it was owned by a horticuture teacher in Buriram, this property is in our village,the prices todays market, that was a good buy, at the time i was playing hel_l with the wife.

The further you are out the cheaper the land is, also think about services on site, if building, this will save money in the long run.

[stoneman]

Hi I need some info for a friend,

He has been offered 7 Rai of rice land for 300,000 is that the going rate in Buiram.

i know it depends on location, but a standard figure(ish)

We bought 20 rai of which 13 rai was rice paddies...We leased it out one year and when I got our share of the rice and sold it, I immediately figured out that there would never be a return on my investment by taking half the rice each year....I bulldozed the rice paddies(much to the chagrin of the village elders - never said anything to me, but gave my wife a lot of grief) We completely turned the soil over to a depth of almost 3 feet and built elevated rows and planted rubber trees. Now all the villagers are talking about how smart we are and how in 2 more years, those 1,500 rubber trees and 51 avocado trees will be giving us a MUCH better return on our investment...

This turning over of the old rice paddy soil has made a really big difference in the trees...Our trees are much bigger and stronger than the rubber trees on the adjoining property and they were planted within a week of our trees..

[Gary A]

Land is worth whatever someone is willing to pay for it. Between our village and a much bigger village the land ranges from 100,000 to 500,000 per rai. My wife's sister just bought one rai of VERY low rice paddy for 100,000. She plans to put a pond on it to build up the area where she wants the house. WAY over priced as far as I was concerned. There is electricity along a good paved road BUT she will need to buy a transformer before she can use it. As far as a pond, our house is on two rai and I think it is too small for a pond.

[ronthompson]

Our home is on a piece of land of 1 rai in size, a guess, which use to be rice land. A lot of fill latter the property is at least a meter higher than the surrounding land a wall is on the boundary and while the house takes up 1/4 of the rai I planted 6 rows of assorted trees. lemon(lime really) mango and various other fruit type tree. I planted each tree with at least i bag of good soil and installed plastic pipe so each tree could receive water, each tree also receives fertilizer twice a month.

the trees are staring their third year soon and I have been a bit disappointed that the growth rate has not been faster. The fill has been here for five years and use as a pasture prior to my tree planting.

While I was reading STONE MAN'S post I really did envy his rubber tree project. I did not realize rubber trees would grow in this area, Huairat. I guess it just goes to show some of us don't make very good farmers.

Fun trying and I would not sell my littletree farm for any price. That really isn't true I could be had.

[bergen]

51 avocado trees ..............

Hi Stoneman -

my wife is interested in planting avocado trees. Can you advice me where to buy?

Thanks and regards

[Thaicoon]

Hi I need some info for a friend,

He has been offered 7 Rai of rice land for 300,000 is that the going rate in Buiram.

i know it depends on location, but a standard figure(ish)

We bought 20 rai of which 13 rai was rice paddies...We leased it out one year and when I got our share of the rice and sold it, I immediately figured out that there would never be a return on my investment by taking half the rice each year....I bulldozed the rice paddies(much to the chagrin of the village elders - never said anything to me, but gave my wife a lot of grief) We completely turned the soil over to a depth of almost 3 feet and built elevated rows and planted rubber trees. Now all the villagers are talking about how smart we are and how in 2 more years, those 1,500 rubber trees and 51 avocado trees will be giving us a MUCH better return on our investment...

This turning over of the old rice paddy soil has made a really big difference in the trees...Our trees are much bigger and stronger than the rubber trees on the adjoining property and they were planted within a week of our trees..

I am the same, got lot of land in rice paddys, as you say return not big money, i go a 60 - 40 share with the family, 40% for myself, for not doing nothing and it keeps them busy, so cannot complain, going to plant 10 rai of euca trees next year, and maybe rubber, i try to plant Eucas every year, this way we have a rotation in crop, year to year, where we are in Buriram, Rubber does not seem to do so well, but other areas it thrives, we have 23 rai not far from Prackonchi, so may try to grow in this area.

About the investment issue in land, we have invested in our land not for ourselves but our two daughters, they will be the two that will benefit long term.