Land Prices In Chiang Rai

[skysurfn3d]

Hello,

We are thinking about purchasing some land in the Chiang Rai area. Thanks to another post, we have some potentional locations to think about from the foreclosed properties from Siam Commerical Bank.

Background: Our idea is to buy the land now, wait 15-20 years to build when I am retired, but will visit the land 1x per year when we normally come to Thailand to vacation and see family. We are looking for 2-5 Rai not in town, rather 10-15 minutes outside of town.

My Question: For the long timers (10+ years) living in Chiang Rai, what are your thoughts on land value in the general area? Has the prices stayed about equal over the past few years? Do you see in general prices going up or staying relatively equal? If they have gone up, at approximately what rate do you think?

All ideas in relation to land prices are appreciated.

[chownah]

What land prices will do depends entirely on exactly where you buy. If you are 10 to 15 minutes out of town I guess that would put you in a small village. I live further out and in my neighborhood prices have been flat for as long as I have been here....6 years....with the exception of one parcel which the owner asked my wife if we were interested in buying and that she would lower the price from what she asked before.....my take on this is that she is thinking she needs some money for something in the near future so she is starting to put out feelers.....so....you see that land prices here depend on people's individual desire to sell and buy....there is no overall market from which to extract some average price.

What will the future bring...hard to say. There is a movement for the kids in my neighborhood to get college educations and find jobs in the city. Alot of the land is being held by parents who have a strong cultural urge to have land to give to their children...children who by and large have no interest in the land....at least not to farm it. It seems to me that there may be a change in the cultural expectations in the rural north and a college education will be seen as the best thing to give your kids instead of land. If this happens then the price of land would probably drop....but this is just some musings on my part so don't take it too seriously....on the other hand, agricultural crop prices have been going up and there is a good reason to think that they will stay up indefinitely if global prosperity continues to rise (think China here)....if this trend continues then land values could very well go up along with farm commodity prices....again this is just my musings so don't take it too seriously.........who knows?...up?...down?....flat?....the key is probably location.

chownah

Edited February 17, 2008 by chownah

[lannaman]

Because of the proximity of Northern Thailand to the booming economy in China, and the probability that Bangkok will be under water in future years with the rise in sea levels, the price of land can only rise. This will be especially true for any land close to the city.

[brahmburgers]

For Thai people: land prices rise dramatically, the closer to the city, the closer to a major hwy - plus low flat land has higher values compared to hills (it's a rice growing culture, so paddy land has a higher value).

Two identical houses: one on the super hwy might be worth 6 million. the other 3 blocks further from the hwy could be 1.5 million. Go figure.

It may seem weird for most farang - who want to be away from noisy fume-laden hwy's and inner cities, and would likely prefer a hill than a low lying paddy - possibly in need of fill.

I know of 25 rai with title east of C.Rai for a very low price (around bt.2 million), has excellent views and electric and water. The reason it's such a low price is for the 3 reasons mentioned above.

I know of other parcels, all types and price ranges. Anyone interested is welcome to contact me.

[chang35baht]

[soap]

[

I know of 25 rai with title east of C.Rai for a very low price (around bt.2 million), has excellent views and electric and water. The reason it's such a low price is for the 3 reasons mentioned above.

I know of other parcels, all types and price ranges. Anyone interested is welcome to contact me.

brahmburgers

you never miss a chance to advertise your wares.

you compained about one of my posts a couple of months ago not being in the classified,

you flaunt the rules when it suits you,

if there is any room left in the classified between all your other wares you advertise

put it in there

[AnotherATM]

Our idea is to buy the land now, wait 15-20 years to build

What are your thoughts on land value in the general area?

I would suggest you build as quickly as possible. The days of cheap housing in Thailand are fast disappearing. Remember that once Thai builders know there is a Farang involved they will be asking 5-6 times as much as they would do from a Thai customer, so I suggest you get someone you can trust to oversee the build and not show your face; possibly a discreet family member. I was being quoted upwards of 1.2 million to get my house built (labour only) whereas my wife was getting quotes of 200k-300k for the same job before they knew it was a Farang home, then they either refused the job or suddenly remebered many other things that they's previously forgotten.

Over the last 5 years Bangkok property developers have been buying up land like the rest of the country was sinking, thus forcing prices up at an alarming rate. Also, Chiang Rai province is becoming a retreat for celebrities and that effects the prices.

I paid 900k for my 20 rai about 30Km from Chiang Rai before I discovered that a Thai person was offered it for 45k only the month before. A similar plot not so far away has just sold for 2.2 million to one of those Bangkok outfits.

I hope this helps.

[klikster]

I paid 900k for my 20 rai about 30Km from Chiang Rai before I discovered that a Thai person was offered it for 45k only the month before. A similar plot not so far away has just sold for 2.2 million to one of those Bangkok outfits.

I hope this helps.

You are saying that land 30k from Chiang Rai was offered (to a Thai) at Bt 2,250/rai?

Um .. er ..

[svenivan]

I suggest you get someone you can trust to oversee the build and not show your face; possibly a discreet family member.

A good friend here in CR did that. They bought land, went back to England, then sent detailed plans for the house to family and of course money.

After 6 months when they came back to CR there was a house on their land but not the house they had sent the plans for.

The plans had disapeared quite quick and then the family built a house they thought were nice.

So, I think it is a good idea to be here when the house is built.