Residential Property Prices In Srakaew

[vuka]

I am considering giving some help with a property purchase in a village near Wang Nam Yen, about 30 km south of Sa Kaeo. I do not want to indicate my thoughts at present, so I prefer not to ask in person, and would like some idea before I am in Thailand again in April. I have not found appropriate websites on property prices in general, except for Bangkok and holiday/retirement bungalows.

Any indications of the range of prices in the area would be appreciated, and also the level of minimum deposits. Also is renting to buy later a possible option in Thailand?

[lopburi3]

Believe to be helpful people will want to know a little more than that. Like type of property, use, electric/road/water requirements, location, size etc.

Assume you are aware a foreigner can not own anything other than selected condo property in their name?

There is no organized used property system in the country side (and very little in cities) so deposits, escrow and such are not part of the system - believe you make an agreement and pay the money - normally at the transfer of title in land office in most cases.

Edited February 6, 2005 by lopburi3

[vuka]

Believe to be helpful people will want to know a little more than that.  Like type of property, use, electric/road/water requirements, location, size etc. 

Assume you are aware a foreigner can not own anything other than selected condo property in their name?

There is no organized used property system in the country side (and very little in cities) so deposits, escrow and such are not part of the system - believe you make an agreement and pay the money - normally at the transfer of title in land office in most cases.

<{POST_SNAPBACK}>

Thanks for your advice.

Purchase would be by a Thai, to whom I'd be giving some help. Dealing would be done by a local Thai family.

A figure for any recent residential property transfer would give an indication of the overall range of prices, but say a 4 room (probably detached) property with services. I'd put up a photo of a suitable example, but it was taken at night, and does not show the overall appearance. I'll have to try again next time I'm there.

Or I could come out about my wishes direct with those concerned!

[peter991]

Can't help you much jmeccleston, because I am as much in the dark about house prices as you.

My only suggestion is to check this website: http://www.kasikornbank.com/PropertyForSal...,0-EN-1,00.html

It lists all properties for sale, sorted by type, province, khet/district and price range. Most properties have pictures too.

You will notice many of the properties are houses repossessed by the Bank.

Just make sure you are not seen to be involved in the financing of the property as as soon as the locals hear a farang is paying, the price will sky-rocket.

Cheers

Peter

[thaihome]

I am considering giving some help with a property purchase in a village near Wang Nam Yen, about 30 km south of Sa Kaeo. I do not want to indicate my thoughts at present, so I prefer not to ask in person, and would like some idea before I am in Thailand again in April. I have not found appropriate websites on property prices in general, except for Bangkok and holiday/retirement bungalows.

Any indications of the range of prices in the area would be appreciated, and also the level of minimum deposits. Also is renting to buy later a possible option in Thailand?

<{POST_SNAPBACK}>

I think you will find that Wang Nam Yen is a small, small town located on hiway 317, about an hour from Sa Kaeo. It is not what I would call a village, but probably more like a district town. If you have ever been to way upcountry rural Thailand, you will know what I mean (and this is way upcountry) when I say it is not a village.

I have driven up hiway 317 to Sa Kaeo a number of times and can't remember the town specifically, I looked on a map to see where it is, and it is just another wide spot in what is otherwise a rather narrow, winding 2 lane hiway.

In my experience with rural properties, they are more driven by the desperation of the seller to raise cash then anything else. There certainly are no web sites with any information on property in this area.

TH

[vuka]

I am considering giving some help with a property purchase in a village near Wang Nam Yen, about 30 km south of Sa Kaeo. I do not want to indicate my thoughts at present, so I prefer not to ask in person, and would like some idea before I am in Thailand again in April. I have not found appropriate websites on property prices in general, except for Bangkok and holiday/retirement bungalows.

Any indications of the range of prices in the area would be appreciated, and also the level of minimum deposits. Also is renting to buy later a possible option in Thailand?

<{POST_SNAPBACK}>

I think you will find that Wang Nam Yen is a small, small town located on hiway 317, about an hour from Sa Kaeo. It is not what I would call a village, but probably more like a district town. If you have ever been to way upcountry rural Thailand, you will know what I mean (and this is way upcountry) when I say it is not a village.

I have driven up hiway 317 to Sa Kaeo a number of times and can't remember the town specifically, I looked on a map to see where it is, and it is just another wide spot in what is otherwise a rather narrow, winding 2 lane hiway.

In my experience with rural properties, they are more driven by the desperation of the seller to raise cash then anything else. There certainly are no web sites with any information on property in this area.

TH

<{POST_SNAPBACK}>

Edited February 7, 2005 by jmeccleston

[vuka]

Thanks for the help. I think I just submitted a copy of the whole topic by mistake! The location is a village to the west of the town of Wang Nam Yen, and I was there recently for 3-4 days. There are passable cheap chalets there, and the local night life is ok.

I found 2 properties on the website suggested, and it seems the idea will be doable, especially the quote of 300000 for what looks quite respectable in what appears to be another village, as I cannot find it (Aumphur Saohai) on my map or the Thai websites I found. It compares with double the price in the border town of Aranyapraphet. So within 2 years, which is the timescale I have in mind, it could be done, unless they find oil there in the meantime!

[charles]

I'm not an expert on rural property transactions, but my wife does come from Sa Kaew province herself, about 30 km south of Wang Nam Yen.

Firstly, it should not be suprising that prices in Aranya Prathet, given its border/major trading point location, are twice as expensive as the area you are talking about. Actually, I'd have thought it would be more. Wang Nam Yen and the surrounding area is certainly a remote, lesser developed part of Thailand. And I don't think there is any reason for that to change relative to other parts of Thailand either. However, the land is pretty good there, can plant plenty of things successfully including rubber and palm oil. Quite a few dairy/beef farms too. I don't think there is an amphur (district) called Saohai in Sa Kaew province - although there is in Saraburi province! Maybe Saohai is the name of a village or sub-district (tambon)?

I'd think it would be unusual to trade property there, unless it was a commercial-type building right on the main road. Most people would build property themselves on their own land. You almost seem to be talking about it like you were buying a place in the UK or wherever.

Anyway, if you wanted to assess the value of the property you're interested in, a good starting point would be finding out how much it would cost to build such a place new. Land costs are certainly low in villages/rural areas.

Finally, perhaps the biggest thing to pay attention to when purchasing would be the type of land title (as well as verifying that the seller really owned it and hadn't already used it as collatoral in a loan agreement of course). I don't have any specific knowledge in this area, but certainly in this part of Thailand it is an important issue. Certainly, not much in the way of 'chanotes' (full official title deeds), and some land may be restricted in terms of use or ownership transfer.

Unless you are Roman Abramovich and can afford to spend money care-free, I'd suggest you do a ###### of a lot of research. And for this, you'll certainly need to speak/read Thai or have someone you can trust who does.

[vuka]

"if you wanted to assess the value of the property you're interested in, a good starting point would be finding out how much it would cost to build such a place new. Land costs are certainly low in villages/rural areas."

I've not sorted out yet how to reply to a quote easily on this site. It's obviously a bit different from Mac Mail or OE!

I should have given more thought to the quote about self build, especially as a Zimbabwean friend has been doing just that! so I may have to come clean and say I want to help with the objective, and ask for local knowledge of costs. I'm tending to overlook in thinking about costs that in Thailand as in Zimbabwe, the climate is a little bit different to Albion!! Which of course has an effect. Another advantage of warm weather. Correction - hot!

Thanks for the comments on legal traps. Also the thread on transferring money has been useful, but I'd probably have to transfer in stages as banks in Thailand want to know what the transfer is for. I've only transferred a few £100s before, but this could be up to £5000 (the contribution, not the total cost) over 2-3 years.