Land Price

[thailand_tom]

land prices in thailand are over priced..i can buy land in the usa alot cheaper and if i want to go in certain states maybe 400 dollars an acre..most is used for rice farming..and if you figure what a rai of land would produce..it would take you a lifetime to get your money back.

[jumnien]

Not all land is arable in the US, hence its worthlessness. Nor is land especially in demand in the US.

[billd766]

The USA is many times larger than Thailand and has a population about 4 or 5 times as large.

The problem is that nowhere in the world is any country gaining more land but they are mostly gaining in population so all land world wide will become more expensive.

You can move land around but you cannot physically grow any more.

The advantage of land is that if you own it, it is an asset which can be used or rented if you have no current use for it. With some good luck and no debts behind you it is also possible to grow food to supplement your income or even be your income.

Land prices in Bangkok for example are absolutely horrendous and mostl all you can do with it is share it with other people in a condo which costs a lot to run.

[dave111223]

Yes it does seem overpriced.

For example my parents just purchased 7 acres (17.5 Rai), 30 minutes drive from Cincinnati for $150,000 (in an upperclass type residential area)

17.5 Rai = 7000 SqWah

$150,000 / 7000 SqWah = $21.42 per SqWah

Thats less than 700Baht per SqWah!

Even in a semi-decent residential area in a smaller Thai city (for example Rayong) you'd be hard pressed to find land less than 10,000 Baht per SqWah!!

And prices in Bangkok are probably 4 times that amount.....

So how the heck is land in Thailand worth 10-100 times more than land in the US?

[craighj]

The USA is many times larger than Thailand and has a population about 4 or 5 times as large.

The problem is that nowhere in the world is any country gaining more land but they are mostly gaining in population so all land world wide will become more expensive.

You can move land around but you cannot physically grow any more.

The advantage of land is that if you own it, it is an asset which can be used or rented if you have no current use for it. With some good luck and no debts behind you it is also possible to grow food to supplement your income or even be your income.

Land prices in Bangkok for example are absolutely horrendous and mostl all you can do with it is share it with other people in a condo which costs a lot to run.

While most of what you have said is quite correct, you should go and have a look at Singapore and Hong Kong. Both have increased their land masses significantly over the last 20 years. You can actually reclaim land from the sea.

Craig

[Pierrot]

The USA is many times larger than Thailand and has a population about 4 or 5 times as large.

The problem is that nowhere in the world is any country gaining more land but they are mostly gaining in population so all land world wide will become more expensive.

You can move land around but you cannot physically grow any more.

The advantage of land is that if you own it, it is an asset which can be used or rented if you have no current use for it. With some good luck and no debts behind you it is also possible to grow food to supplement your income or even be your income.

Land prices in Bangkok for example are absolutely horrendous and mostl all you can do with it is share it with other people in a condo which costs a lot to run.

While most of what you have said is quite correct, you should go and have a look at Singapore and Hong Kong. Both have increased their land masses significantly over the last 20 years. You can actually reclaim land from the sea.

Craig

I don't think HK is a good example. Most of the territory is under developped but they keep on reclaiming land to expand the central/business districts where the developpers can make big money.

I usually joke my bathroom in Bangkok is bigger than my flat in HK, but when you leave there, it's not so funny ...

[a2396]

land prices in thailand are over priced..i can buy land in the usa alot cheaper and if i want to go in certain states maybe 400 dollars an acre..most is used for rice farming..and if you figure what a rai of land would produce..it would take you a lifetime to get your money back.

Why woould you be considering this anyway. You can't own it. Haven't you read the "horror stories" in other postings about silly Farangs buying such things soley in another persons name?

[Boater]

400$USD an Acre!,

Please send me the contact details,

[way2muchcoffee]

$400 per acre does seem awfully cheap. Perhaps in the middle of North Dakota somewhere?

[astral]

If land is cheaper in the USA then I suggest you invest your money over there.

Comparing prices with another country is a pointless exercise.

Prices are driven by market factors.

An item, whether land or anything else, is driven by what people are prepared to pay for it.

For example.

Petrol/gasoline is UK 8p (US 16ct) a litre in Saudi Arabia, which gives some idea of how much it really costs.

Compare that to the price you pay next time you to the petrol station.

[wangsuda]

And lets hope non Thai citizens can never own land in Thailand as it will only benefit the few and put prices up for the many.

And let's hope other countries that have Thai nationals living in them respond in kind. And retroactively to about 20 years.

[dave111223]

For example.

Petrol/gasoline is UK 8p (US 16ct) a litre in Saudi Arabia, which gives some idea of how much it really costs.

Compare that to the price you pay next time you to the petrol station.

Not really a good example seeing as oil is pumped right on their doorstep.

Obviously the price is whatever people are willing to pay, but the question is more why are they willing to pay it.

[thailand_tom]

Yes it does seem overpriced.

For example my parents just purchased 7 acres (17.5 Rai), 30 minutes drive from Cincinnati for $150,000 (in an upperclass type residential area)

17.5 Rai = 7000 SqWah

$150,000 / 7000 SqWah = $21.42 per SqWah

Thats less than 700Baht per SqWah!

Even in a semi-decent residential area in a smaller Thai city (for example Rayong) you'd be hard pressed to find land less than 10,000 Baht per SqWah!!

And prices in Bangkok are probably 4 times that amount.....

So how the heck is land in Thailand worth 10-100 times more than land in the US?

this is what i am talking about..i do not get it at all..i can also buy parcels in connecticut just outside of upscale towns cheaper then i could in thailand. are people selling these parcels in thailand for this amount..or is it just a price and they are holding on to it for years..because no one is buying it.

[tominchaam]

To compare land prices like OP does not really make sense. I am surprised so many farangs tend to compare everything with their home country as most often it has very little to do with the local situation in Thailand. If land prices in Thailand are over priced it is not likely to have anything to do with the US.

[Heng]

are people selling these parcels in thailand for this amount..or is it just a price and they are holding on to it for years..because no one is buying it.

You can go to just about any land department office and the daily and monthly transfer totals (in value, taxes paid, etc.) are typically posted on the wall. I'd imagine though that there are plenty of folks on this board who think it's a hoax/charade put on to trick them somehow.

[Beardog]

Yes it does seem overpriced.

For example my parents just purchased 7 acres (17.5 Rai), 30 minutes drive from Cincinnati for $150,000 (in an upperclass type residential area)

17.5 Rai = 7000 SqWah

$150,000 / 7000 SqWah = $21.42 per SqWah

Thats less than 700Baht per SqWah!

Even in a semi-decent residential area in a smaller Thai city (for example Rayong) you'd be hard pressed to find land less than 10,000 Baht per SqWah!!

And prices in Bangkok are probably 4 times that amount.....

So how the heck is land in Thailand worth 10-100 times more than land in the US?

It's all supply & demand. Most of the land is already snatched up & marketed high & no one usually budges(much)

When you go to the land office & pay your Chinote taxes on transfer, they bang you for 20-25% extra(land assessment.)

The land you can pick up dirt cheap in the sticks or for a high price in Pattaya -Bang Sare , due to demand- Even though cause of Bush's global screwup sales are soft for land but there is only scant awesome property left. The land has trippled where i live In Bang Sare even though the assessment of the properties here are up 20%.

Even in Bang Sare you can get cheap property- but it is a drinage field(FLOOD ZONE) or is within 100' of a railroad & is owned by the railroad. If you are unfortunate to figure that small detail out before you buy, you lose the measured land when the chinote is transfered. You can also get a chinote 4-5 & 6 cheap & they are as good as toilet paper since it is a Thailand promise of your chinote to be issued at some time.

The point that blows the U.S. out of the water is you can build your house from 300,000 -5 million baht or whatever the numbers you build at for a fraction the price of California, Florida or Appleton Wiconsin.

a 1 million baht house here built compares to the same s

[Beardog]

Yes it does seem overpriced.

For example my parents just purchased 7 acres (17.5 Rai), 30 minutes drive from Cincinnati for $150,000 (in an upperclass type residential area)

17.5 Rai = 7000 SqWah

$150,000 / 7000 SqWah = $21.42 per SqWah

Thats less than 700Baht per SqWah!

Even in a semi-decent residential area in a smaller Thai city (for example Rayong) you'd be hard pressed to find land less than 10,000 Baht per SqWah!!

And prices in Bangkok are probably 4 times that amount.....

So how the heck is land in Thailand worth 10-100 times more than land in the US?

It's all supply & demand. Most of the land is already snatched up & marketed high & no one usually budges(much)

When you go to the land office & pay your Chinote taxes on transfer, they bang you for 20-25% extra(land assessment.)

The land you can pick up dirt cheap in the sticks or for a high price in Pattaya -Bang Sare , due to demand- Even though cause of Bush's global screwup sales are soft for land but there is only scant awesome property left. The land has trippled where i live In Bang Sare even though the assessment of the properties here are up 20%.

Even in Bang Sare you can get cheap property- but it is a drinage field(FLOOD ZONE) or is within 100' of a railroad & is owned by the railroad. If you are unfortunate to figure that small detail out before you buy, you lose the measured land when the chinote is transfered. You can also get a chinote 4-5 & 6 cheap & they are as good as toilet paper since it is a Thailand promise of your chinote to be issued at some time.

The point that blows the U.S. out of the water is you can build your house from 300,000 -5 million baht or whatever the numbers you build at for a fraction the price of California, Florida or Appleton Wisconsin.

a 1 million baht house here built compares to the same sq. ft house in Maui Hawaii for 300,000$- $500,000.

The quality is way better in the U.S. There is no doubt about that fact. The benefit is the cheap labor to make the house.

Just make dam_n sure your doing things on the site to make sure they are delivering what you ordered & are doing the job somewhat satisfactory. Usually you only build a house here once, cause it is a trip to the jerkit circus...........

Still the good the bad & the ugly of it once you got some Rai & put a pad on it -way cheaper than the states.

Plus too if you think with the small head & lose your house to a scam artist, it is minuscule to the loses of What it can be at home.

[Beardog]

Yes it does seem overpriced.

For example my parents just purchased 7 acres (17.5 Rai), 30 minutes drive from Cincinnati for $150,000 (in an upperclass type residential area)

17.5 Rai = 7000 SqWah

$150,000 / 7000 SqWah = $21.42 per SqWah

Thats less than 700Baht per SqWah!

Even in a semi-decent residential area in a smaller Thai city (for example Rayong) you'd be hard pressed to find land less than 10,000 Baht per SqWah!!

And prices in Bangkok are probably 4 times that amount.....

So how the heck is land in Thailand worth 10-100 times more than land in the US?

It's all supply & demand. Most of the land is already snatched up & marketed high & no one usually budges(much)

When you go to the land office & pay your Chinote taxes on transfer, they bang you for 20-25% extra(land assessment.)

The land you can pick up dirt cheap in the sticks or for a high price in Pattaya -Bang Sare , due to demand- Even though cause of Bush's global screwup sales are soft for land but there is only scant awesome property left. The land has trippled where i live In Bang Sare even though the assessment of the properties here are up 20%.

Even in Bang Sare you can get cheap property- but it is a drinage field(FLOOD ZONE) or is within 100' of a railroad & is owned by the railroad. If you are unfortunate to figure that small detail out before you buy, you lose the measured land when the chinote is transfered. You can also get a chinote 4-5 & 6 cheap & they are as good as toilet paper since it is a Thailand promise of your chinote to be issued at some time.

The point that blows the U.S. out of the water is you can build your house from 300,000 -5 million baht or whatever the numbers you build at for a fraction the price of California, Florida or Appleton Wisconsin.

a 1 million baht house here built compares to the same sq. ft house in Maui Hawaii for 300,000$- $500,000.

The quality is way better in the U.S. There is no doubt about that fact. The benefit is the cheap labor to make the house.

Just make dam_n sure your doing things on the site to make sure they are delivering what you ordered & are doing the job somewhat satisfactory. Usually you only build a house here once, cause it is a trip to the jerkit circus...........

Still the good the bad & the ugly of it once you got some Rai & put a pad on it -way cheaper than the states.

Plus too if you think with the small head & lose your house to a scam artist, it is minuscule to the loses of What it can be at home.

[Nepal4me]

Yes it does seem overpriced.

For example my parents just purchased 7 acres (17.5 Rai), 30 minutes drive from Cincinnati for $150,000 (in an upperclass type residential area)

17.5 Rai = 7000 SqWah

$150,000 / 7000 SqWah = $21.42 per SqWah

Thats less than 700Baht per SqWah!

Even in a semi-decent residential area in a smaller Thai city (for example Rayong) you'd be hard pressed to find land less than 10,000 Baht per SqWah!!

And prices in Bangkok are probably 4 times that amount.....

So how the heck is land in Thailand worth 10-100 times more than land in the US?

Wonder how many people can actually relate to this. Price per SqWah???

Pricing per sq rai would be a lot more relevant. Belive it or not, 95+% of people don't know what a Wah is, even here in Thailand.

[bkkblueeyes]

Yes it does seem overpriced.

For example my parents just purchased 7 acres (17.5 Rai), 30 minutes drive from Cincinnati for $150,000 (in an upperclass type residential area)

17.5 Rai = 7000 SqWah

$150,000 / 7000 SqWah = $21.42 per SqWah

Thats less than 700Baht per SqWah!

Even in a semi-decent residential area in a smaller Thai city (for example Rayong) you'd be hard pressed to find land less than 10,000 Baht per SqWah!!

And prices in Bangkok are probably 4 times that amount.....

So how the heck is land in Thailand worth 10-100 times more than land in the US?

Wonder how many people can actually relate to this. Price per SqWah???

Pricing per sq rai would be a lot more relevant. Belive it or not, 95+% of people don't know what a Wah is, even here in Thailand.

I have no idea what a wah is.

I use the word when I see a nice car or a good view.

When I see a pritty girl I say ooo wah

[flying]

land prices in thailand are over priced..i can buy land in the usa alot cheaper and if i want to go in certain states maybe 400 dollars an acre..most is used for rice farming..and if you figure what a rai of land would produce..it would take you a lifetime to get your money back.

It is a Wee Bit more than 400/acre here in Hawaii.

Which by the way I always felt was very similar to Thailand.

My Thai wife likes it here too but due to the high prices we do look forward to cashing out & moving back full time someday

Edited May 10, 2008 by flying

[dave111223]

Yes it does seem overpriced.

For example my parents just purchased 7 acres (17.5 Rai), 30 minutes drive from Cincinnati for $150,000 (in an upperclass type residential area)

17.5 Rai = 7000 SqWah

$150,000 / 7000 SqWah = $21.42 per SqWah

Thats less than 700Baht per SqWah!

Even in a semi-decent residential area in a smaller Thai city (for example Rayong) you'd be hard pressed to find land less than 10,000 Baht per SqWah!!

And prices in Bangkok are probably 4 times that amount.....

So how the heck is land in Thailand worth 10-100 times more than land in the US?

Wonder how many people can actually relate to this. Price per SqWah???

Pricing per sq rai would be a lot more relevant. Belive it or not, 95+% of people don't know what a Wah is, even here in Thailand.

When purchasing non-rural land in Thailand it is often priced in Sq. Wah. (1 Wah = 2 Meters; 1 Sq. Wah = 4 Sq. Meters)

But my above calculation can be easily converted to about: 275,000 baht per Rai.

(P.S. I would think that the same people who don't know what a Wah is probably would not know what a Rai is anyway, seeing as they are both Thai measurements)

Edited May 11, 2008 by dave111223

[Pepe']

are people selling these parcels in thailand for this amount..or is it just a price and they are holding on to it for years..because no one is buying it.

You can go to just about any land department office and the daily and monthly transfer totals (in value, taxes paid, etc.) are typically posted on the wall. I'd imagine though that there are plenty of folks on this board who think it's a hoax/charade put on to trick them somehow.

$$$$$$$$$$$$$$

I think it's a hoax/charade put on to trick me somehow...

[Heng]

[Ray1167]

GREED is a factor. i myself know perfectly well what a sq wah / sq rai etc is worth in the area i am focusing on. ( The maths are simple enough when you begin taking an interest in it... )

One opportunistic Thai grandmother must have seen me coming and wanted 1.6 million baht for one square rai of dirt ! Not fenced in , no water supply. That's more than 500 percent over the correct market value. I laughed as i put down the phone. I guess she see's the spreading of the farang invasion and takes a chance , thinking we don't know any better . People are becoming greedy .

[Kaojai]

Yes it does seem overpriced.

So how the heck is land in Thailand worth 10-100 times more than land in the US?

Real estate is generally priced at or about the level that people will pay for it, not by comparing it with something located half-way around the world.

For awhile people in the US were paying prices between 10% and 25% more than they are willing to do today in places like Florida and Nevada. Rather a lot of people have mortgages which are now greater than the amount they would get if they tried to sell. There's no material difference in the land or house or condo now compared to 6 months ago, but if they can be sold at all, it's for considerably less for no other reason than that's what people are currently willing to pay.

Thais tend not to drop selling prices even during periods like the 1997 crisis. They'd prefer to hold unused land or an empty building and wait for a time when someone will pay what they want.

Edited May 11, 2008 by Kaojai

[Heng]

People are becoming greedy .

People have always been greedy, more likely you either just arrived to the neighborhood or just now asked them the right question.

[tattoodrob]

location ....location...location.

you will find land cheaper in thailand than in usa if you go into the sticks in the back of beyond......but if your comparing bangkok,pattaya or other popular destinations then of course its more expensive than some unwanted plot outside a us town.maybe you should compare like with like.......a plot on the beach or a plot in central new york city.....probably then you will find usa a lot more expensive!!!

[Rinrada]

Yes it does seem overpriced.

For example my parents just purchased 7 acres (17.5 Rai), 30 minutes drive from Cincinnati for $150,000 (in an upperclass type residential area)

17.5 Rai = 7000 SqWah

$150,000 / 7000 SqWah = $21.42 per SqWah

Thats less than 700Baht per SqWah!

Even in a semi-decent residential area in a smaller Thai city (for example Rayong) you'd be hard pressed to find land less than 10,000 Baht per SqWah!!

And prices in Bangkok are probably 4 times that amount.....

So how the heck is land in Thailand worth 10-100 times more than land in the US?

Wonder how many people can actually relate to this. Price per SqWah???

Pricing per sq rai would be a lot more relevant. Belive it or not, 95+% of people don't know what a Wah is, even here in Thailand.

When purchasing non-rural land in Thailand it is often priced in Sq. Wah. (1 Wah = 2 Meters; 1 Sq. Wah = 4 Sq. Meters)

But my above calculation can be easily converted to about: 275,000 baht per Rai.

(P.S. I would think that the same people who don't know what a Wah is probably would not know what a Rai is anyway, seeing as they are both Thai measurements)

Agree...al relevant...location and NEED ....

Thats less than 700Baht per SqWah!

Got a nice little piece of 12 Rai...ie. 4800 wah that I will be looking at on next joli just outside of CR which my estate guys mum want to flog with full chan (suspect paddy) but at 70 bt. a Wah ...whos complaining....

might even buy it me self.... ....its al just a game.....init

[scotbeve]

And lets hope non Thai citizens can never own land in Thailand as it will only benefit the few and put prices up for the many.

The rules on gaining citizenship should be easier for wives/husbands - fathers/mothers.

Not to digress, but has anyone thought of the incredibly low property taxes imposed in Thailand? And the levels in which these taxes are levied? Where does the tax go ( ) Eg: rice paddies = 10 baht/rai / year - that's just fine. But say, an owner with a massive orange orchard pays approx. 15 baht / rai / year. I can think of a few more rules to be added to just these 2 examples... BTW - I'm basing the tax on what I knew of the rates about 7 years ago.