Land Price In Nakon Si Thamarat

[dartvidar]

Hi, is it some one who lives in the south Thailand who knows little bit about property prices around Nakon Si Thamarat?

When I read on this forum, do I see people have bought lot of cheep land around in Thailand. I have been looking at different lands around Nakon Si Thamarat. I have currently been looking at a land 7 Rai rice field close to 4 lane main road for 1.2 Mill Baht, do this sound like a realistic price. All the lands I hear about sounds very expensive, often 200-300 000 Baht pr Rai and higher. This is in a province 60 Km from Nakon Si Thamarat so its not exact a prime location. For me it looks like people pricing their land to high, they have probably heard about the high prices in Phuket and Kho Samui.

[Mosha]

Many things to consider. Land title, is the land in production, how desperate they are to sell. I have seen Sor por kor land 17 Rai wth 10-12 year old rubber trees go for 1.4 million Baht, he wanted 1.9Million. I know this for fact as he is my wife's ex brother-in-law.

[traveldog]

Agree with Mosha....title has a lot to do with price...is it Chanote? Also utilities, how close? Desparate sellers? I have looked at producing and soon to producing rubber farms in NST, chanote, utilities, good roads for similar price as yours and some less....remember to stay way in the background, i.e. "hide the farang" so the price doesn't get a premium...anyway it will be your wifes so best to let her/family do the looking at first is my best experience....as long as the family is on your side-ha ha! Good luck, and take your time!

[Tod Daniels]

I think Maizefarmer and other 'in the know' posters said it best when people ask about land prices anywhere in rural (Nakhon Nowhere) Thailand. It is akin to asking "how long is a piece of string?" There is no cut and dried price nor a land price book to refer to.

So many factors come into play that it isn't even funny. What is growing or has been grown on the land, how easily accessible is it to an improved road (one you can travel on all year long), how accessible is it to a reliable water supply, how close is available power, was any neighboring land sold recently, if so what was it sold for, etc.

The BIG caveat is what is the status of the land, who holds the chanote, are there any outstanding loans (be it regular financing or ‘baan-nok’ money lenders). If they are selling, why are they, what is their motivation for selling? Obviously if the land made money, most people wouldn't sell, unless forced by outside circumstances to do so.

It certainly is one of the most "buyer beware" purchases a foreigner could ever contemplate doing in thailand (especially given land ownership laws). This is often made more complicated by a foreigner’s inability to speak/understand thai. That puts them in a position to rely on their wife or their wife's extended family to get the real details. As has been pointed out; IF they are on your side or their own (often a difficult call at best) can come into play too. Believe me many people have bought land only to find out down the road, it was land owned by the family already.

Please realize I am far from the most ‘thai-friendly’ posters on this forum (and in fact am mostly a member of the ‘thai-bashing’ faction ). However, with that being said; I offer the above info in as honest and heartfelt manner I can.

Before you part with your hard earned baht, take as much time and care doing due diligence as you can possibly afford to do.

[Mosha]

One we get annually for some Tor Bor 5 land. We AKA my wife bought 25 Rai over 6 years ago. The seller has about 25 Rai nearby. He has told the local Admin (Or bor Tor) we also bought that. So every year we get a letter to pay the rent. It's stupidly cheap. If it happens in 2010 I'm going to tell my wife to make sure it's for his land. Then tell them I'll come back, and leave it. Ther blokes got 10 year old palm on. As my wife as already told them, we would be very happy if that was our land.

[dartvidar]

I just wanted to know if some people had bought, or know anyone who had bought land in this area. So I can get some prices to compare with. The people need money, but not badly. They own the land but they will sell it to invest in school for daughter.

We ty to offer lower amount but they will not go under 1.2 mill. I have heard about so many lands for sale, and the prices are crazy. And every body say the lands have good location. But when I look at it, I can not under stand how it can be a good location.

it's my wifes family who checking for me, but I know every body in that province have a list over what familys have farang and not.

[soundman]

To find a rough average for land with a particular title in a particular area, the land department (grom tee din) is a good place to start.

Just walk in, and ask what the duty value for a particular lot would be becuase you are considering buying it. The value they give you will be some sort of average (I have absolutely no idea how they do their calcualtion) for that area.

So, for example, if the land department tells you the duty value is 150k per rai & the seller is asking for 300k per rai - you will know the seller is asking double the average price for that area.

[finner]

Excellent advice Soundman. This figure is also important when it comes to paying transfer tax too. Using your numbers, you would have to pay tax on a minimum of 150K/rai even if you actually pay 100k/rai or 300K/rai but don't declare this to the Ti Din, a very common tax avoidance practice. Land transfer tax is low right now to help the economy but is scheduled to increase back to the original percentage in April. Don't know what the rates actually are but I just paid B120,000 for a B3.5M purchase.

Another check to make is whether the sellers have owned the land more than 2 years, if not, there is a business tax levied. This tax is also scheduled to increase in April.

[PalmWoody]

I just wanted to know if some people had bought, or know anyone who had bought land in this area. So I can get some prices to compare with. The people need money, but not badly. They own the land but they will sell it to invest in school for daughter.

We ty to offer lower amount but they will not go under 1.2 mill. I have heard about so many lands for sale, and the prices are crazy. And every body say the lands have good location. But when I look at it, I can not under stand how it can be a good location.

it's my wifes family who checking for me, but I know every body in that province have a list over what familys have farang and not.

It really depends if it is close to the main road, than the prices are high, but not at the main road the prices are about 100,000 baht a rai in nakkhon.

[Mosha]

My wife divided her Chanote land last year, which involved a valuation. We live alongside a quiet tarmac road, and it came out at 60K/Rai. Down the road a kilometer away, the road meets a slightly busier road and the value down there is around 100K.

[slapout]

Fang area, land dept valuation for paddy land seems to be 100,000/rai if land borders main highway, 1 kilometer away 50,000/rai down to 35,000/rai if the main roads are within hearing distance of horns, trucks etc.