House Prices On Samui

[H2oDunc]

Greetings all. I was having a drive around the back waters the other day and noticed lots of houses for sale. Took a few pictures of them then got the missus to call and ask how much with no mention of a Farang in any of the conversation. Strictly a Thai buyer. I was surprised at the results. Take this house. In the middle of nowhere really near Lippa Noi about 5 minutes from the Raja ferry terminal. A typical Thai design house sat on 1 rai. It looks as if it has been empty for a while. Thai bathroom and kitchen. 2 Bedrooms. Take a guess as to the price. I was, as said surprised. Some pictures here. Its run down and has nothing in it.

[screamingeagle]

4 million????????

[Gatorade]

How much land? Chanote? Mains Water and Electricity?

At a guess I'd say it's worth somewhere around 2.5 Million Baht max.

Personally wouldn't touch it, it's hardly pleasing to the eye.

[maccaroni man]

i had a friend buy land out there 10 yrs ago and he paid way too much but recently his neighbor sold a plot for more than 3m so as you know the word spreads quickly so i would not be surprised it they were asking 6 million for inho an 800k property

[H2oDunc]

Not even close. As said this is for a Thai buyer remember No Farang involved With electric, a well and chanote sat on 1 rai keep em coming and its hanging as well remember

[David006]

Suggest the price is in the land..house looks to be worth about 600k to build...

...guess about 3mil asking...?

[MSingh]

Suggest the price is in the land..house looks to be worth about 600k to build...

...guess about 3mil asking...?

Sat on a Rai in the middle of nowhere'sville Lipa Noi, you'd hope that would be the MAXIMUM ( 3m >> $100,000 USD but i still wouldn't ) they were asking for but we're talking Samui & the greediest people i've ever come accross collectively on the Planet & judging by the Duncmeister's Posts i'm gonna go for a whopping, ridiculous, ill informed, brainless, no justification 7m - 8m plus THEIR Lawyers fee's ??

[PoorSucker]

It's hard times right now must raise the price.

9,5 Mbaht

[Boater]

no sea view, crap build quilty, not the best location, the value would be around 2.1 - 3 Million THB MAX , but as you said Thai they probably want 6.5 - 7 Million

[Samui Coconut]

1.8 Mio

[carmine]

Knowing the greed of these people, despite the fact that the house looks like a poorly built dump, i'll have a guess at 10 million. i know it sounds lucicrous but so many things here are.

[xen]

This is not a de-facto auction is it and the highest quess becomes the lucky winner of a house and land package .

[Gatorade]

It's so obviously built to a very low budget I would revise downwards to less than a Million Baht.

Although I agree with the other posters that Samui greed is probably putting the price beyond reality.

[samuijimmy]

It's so obviously built to a very low budget I would revise downwards to less than a Million Baht.

Although I agree with the other posters that Samui greed is probably putting the price beyond reality.

I'm with you on that, Gator! Less than a million for a Thai. Probably 3 mil if for farang!

There is a much worse looking house near me, its been for sale for over two years....3 million The timber beams are hollow in side... just hand to stick a finger against the wood ..... oppps!!! .... "oh we fix" she said... yeah right!

Just bye the bye I know of a house on KP about 1/2 (Haad Salad area) ....(never lived in but good condition, but needs a bit of finishing....kitchen etc. I think the owner would take about 800,000 baht. or reasonable offer.... It has a bit of a sea view.... if anyone interested PM me!

[Boater]

H2O Dunc, are you going to reveal the price now

[H2oDunc]

OK I will put you all out of your misery.

Now again this is a Thai selling to a Thai price

When the missus rang to ask the Thai guy said he wanted

8.5 MILLION baht for the house :cheesy:

UNREAL the house is falling apart, is typical Thai with no aircon or anything yet he still thinks it is worth 8.5 million baht and thats without a Farang being involved.

There is greedy and there is greedy Even the missus said he was crazy

No doubt next year it will be 10 million

[chiang mai]

For one Rai on Samui that sounds about right, sadly - the house value is around 750k and the rest is the land.

[carmine]

For one Rai on Samui that sounds about right, sadly - the house value is around 750k and the rest is the land.

It's not right, and as the saying goes it's worth what someone will pay for it, and that means it ain't worth two bob.

Sadly the locals are so wrapped up in greed, so delusional here, they don't seem to understand that it's no longer a great place to invest in. Private investors are looking elsewhere. The housing market is zero with no signs whatsoever of picking up in the near or distant future. T I T

[Boater]

For one Rai on Samui that sounds about right, sadly - the house value is around 750k and the rest is the land.

that area for land with no seaview ect ( not sure of the exact loaction ) but maybe only 1.5 - 3 million a rai MAX

[chiang mai]

Has anyone checked out Phuket property prices lately, come to that, hows about UK property prices? I don't like or agree with the valuation of the OP's quoted property but if you put it into perspective, 1 Rai of land on Samui, including a house, circa GBP £170k seems like fair value by comparison - for the same money however you could always by a two up two down in Bridgend or similar (UK). Pregnant Pause

Yes OK, Baht 8 mill in Issan will buy you lots of land and structures, ditto in Chiang Mai and elsewhere in Thailand, but isn't it all about location, methinks so.

[carmine]

Has anyone checked out Phuket property prices lately, come to that, hows about UK property prices? I don't like or agree with the valuation of the OP's quoted property but if you put it into perspective, 1 Rai of land on Samui, including a house, circa GBP £170k seems like fair value by comparison - for the same money however you could always by a two up two down in Bridgend or similar (UK). Pregnant Pause

Yes OK, Baht 8 mill in Issan will buy you lots of land and structures, ditto in Chiang Mai and elsewhere in Thailand, but isn't it all about location, methinks so.

Hear what you are saying but basically its a case here that no one wants to buy, or rather very few, and in my book that means it really does'nt have a value as such. Value is all about the demand and there isn't any. Times will ofcourse change but i doubt for quite some time.

Edited August 26, 2010 by carmine

[ESB7]

Has anyone checked out Phuket property prices lately, come to that, hows about UK property prices? I don't like or agree with the valuation of the OP's quoted property but if you put it into perspective, 1 Rai of land on Samui, including a house, circa GBP £170k seems like fair value by comparison - for the same money however you could always by a two up two down in Bridgend or similar (UK). Pregnant Pause

Yes OK, Baht 8 mill in Issan will buy you lots of land and structures, ditto in Chiang Mai and elsewhere in Thailand, but isn't it all about location, methinks so.

Exactly, so with this location in mind should not cost anywhere near the asking price, 20-25%% of asking price is OK...

[chiang mai]

Has anyone checked out Phuket property prices lately, come to that, hows about UK property prices? I don't like or agree with the valuation of the OP's quoted property but if you put it into perspective, 1 Rai of land on Samui, including a house, circa GBP £170k seems like fair value by comparison - for the same money however you could always by a two up two down in Bridgend or similar (UK). Pregnant Pause

Yes OK, Baht 8 mill in Issan will buy you lots of land and structures, ditto in Chiang Mai and elsewhere in Thailand, but isn't it all about location, methinks so.

Exactly, so with this location in mind should not cost anywhere near the asking price, 20-25%% of asking price is OK...

If you say so, but let's make sure there's no misunderstanding here, the land on offer is on Samui in Thailand and not Solihull UK and it's one Rai (just under half an acre) and not one postage stamp!

[H2oDunc]

Chiang Mai. Hi Have you looked at land prices on Samui or are you just going by hearsay stories ? I have some beautiful sea view land in the same area with concrete road and access to electric and telephone / internet etc for 3.5 million a Rai so your estimate of 8 mill being average is way off. And as said this is the Thai price. I also have a friend with a very nice house 3 bed Farang style with pool for 6.5

There are some bargains to be had at the moment but also some right rip off's

I should phone up and find out what the Farang price is

[chiang mai]

Chiang Mai. Hi Have you looked at land prices on Samui or are you just going by hearsay stories ? I have some beautiful sea view land in the same area with concrete road and access to electric and telephone / internet etc for 3.5 million a Rai so your estimate of 8 mill being average is way off. And as said this is the Thai price. I also have a friend with a very nice house 3 bed Farang style with pool for 6.5

There are some bargains to be had at the moment but also some right rip off's

I should phone up and find out what the Farang price is

Well not first hand that's for sure since I live on Phuket and I haven't been to Samui for a few years. So I suppose in part that I am making the presumption that the property scene on Samui is similar to that of Phuket - I also have a long standing and close friend who lives on Samui who works in the regional property field and he broadly confirms my view. Now, having said those things, I don't doubt that it is possible to find good value on Samui although doing so is the exception rather than the rule and the fact that you live there helps enormously. But this thread is about the cost or worth of a specific property and whether it's worth 8 million or not, honestly I don't know the answer. But what I do know is that 1 Rai on Samui is worth much closer to the number 8 than the number 2 that some poster have stated - 6.5, 8 or 7 are all in the same balpark as far as I'm concerned.

[carmine]

Chiang Mai. Hi Have you looked at land prices on Samui or are you just going by hearsay stories ? I have some beautiful sea view land in the same area with concrete road and access to electric and telephone / internet etc for 3.5 million a Rai so your estimate of 8 mill being average is way off. And as said this is the Thai price. I also have a friend with a very nice house 3 bed Farang style with pool for 6.5

There are some bargains to be had at the moment but also some right rip off's

I should phone up and find out what the Farang price is

Well not first hand that's for sure since I live on Phuket and I haven't been to Samui for a few years. So I suppose in part that I am making the presumption that the property scene on Samui is similar to that of Phuket - I also have a long standing and close friend who lives on Samui who works in the regional property field and he broadly confirms my view. Now, having said those things, I don't doubt that it is possible to find good value on Samui although doing so is the exception rather than the rule and the fact that you live there helps enormously. But this thread is about the cost or worth of a specific property and whether it's worth 8 million or not, honestly I don't know the answer. But what I do know is that 1 Rai on Samui is worth much closer to the number 8 than the number 2 that some poster have stated - 6.5, 8 or 7 are all in the same balpark as far as I'm concerned.

If no one wants to buy then please explain why its worth that price....because some real estate agent says so? ITS WORTHLESS UNTIL THERE IS A BUYER AND THERE ARN'T ANY.

[chiang mai]

Chiang Mai. Hi Have you looked at land prices on Samui or are you just going by hearsay stories ? I have some beautiful sea view land in the same area with concrete road and access to electric and telephone / internet etc for 3.5 million a Rai so your estimate of 8 mill being average is way off. And as said this is the Thai price. I also have a friend with a very nice house 3 bed Farang style with pool for 6.5

There are some bargains to be had at the moment but also some right rip off's

I should phone up and find out what the Farang price is

Well not first hand that's for sure since I live on Phuket and I haven't been to Samui for a few years. So I suppose in part that I am making the presumption that the property scene on Samui is similar to that of Phuket - I also have a long standing and close friend who lives on Samui who works in the regional property field and he broadly confirms my view. Now, having said those things, I don't doubt that it is possible to find good value on Samui although doing so is the exception rather than the rule and the fact that you live there helps enormously. But this thread is about the cost or worth of a specific property and whether it's worth 8 million or not, honestly I don't know the answer. But what I do know is that 1 Rai on Samui is worth much closer to the number 8 than the number 2 that some poster have stated - 6.5, 8 or 7 are all in the same balpark as far as I'm concerned.

If no one wants to buy then please explain why its worth that price....because some real estate agent says so? ITS WORTHLESS UNTIL THERE IS A BUYER AND THERE ARN'T ANY.

Value and worth are two different things, worth is how much someone is prepared to pay and somewhere in the world there's a buyer who things this price is just right, almost certainly, it may take time but he'll likely get his price eventually.

[alfieconn]

Chiang Mai. Hi Have you looked at land prices on Samui or are you just going by hearsay stories ? I have some beautiful sea view land in the same area with concrete road and access to electric and telephone / internet etc for 3.5 million a Rai so your estimate of 8 mill being average is way off. And as said this is the Thai price. I also have a friend with a very nice house 3 bed Farang style with pool for 6.5

There are some bargains to be had at the moment but also some right rip off's

I should phone up and find out what the Farang price is

Well not first hand that's for sure since I live on Phuket and I haven't been to Samui for a few years. So I suppose in part that I am making the presumption that the property scene on Samui is similar to that of Phuket - I also have a long standing and close friend who lives on Samui who works in the regional property field and he broadly confirms my view. Now, having said those things, I don't doubt that it is possible to find good value on Samui although doing so is the exception rather than the rule and the fact that you live there helps enormously. But this thread is about the cost or worth of a specific property and whether it's worth 8 million or not, honestly I don't know the answer. But what I do know is that 1 Rai on Samui is worth much closer to the number 8 than the number 2 that some poster have stated - 6.5, 8 or 7 are all in the same balpark as far as I'm concerned.

Where do you get the idea that land prices are so high in Samui ? or perhaps you need to change your name to Mystic Meg .

[taninthai]

Chiang Mai. Hi Have you looked at land prices on Samui or are you just going by hearsay stories ? I have some beautiful sea view land in the same area with concrete road and access to electric and telephone / internet etc for 3.5 million a Rai so your estimate of 8 mill being average is way off. And as said this is the Thai price. I also have a friend with a very nice house 3 bed Farang style with pool for 6.5

There are some bargains to be had at the moment but also some right rip off's

I should phone up and find out what the Farang price is

Well not first hand that's for sure since I live on Phuket and I haven't been to Samui for a few years. So I suppose in part that I am making the presumption that the property scene on Samui is similar to that of Phuket - I also have a long standing and close friend who lives on Samui who works in the regional property field and he broadly confirms my view. Now, having said those things, I don't doubt that it is possible to find good value on Samui although doing so is the exception rather than the rule and the fact that you live there helps enormously. But this thread is about the cost or worth of a specific property and whether it's worth 8 million or not, honestly I don't know the answer. But what I do know is that 1 Rai on Samui is worth much closer to the number 8 than the number 2 that some poster have stated - 6.5, 8 or 7 are all in the same balpark as far as I'm concerned.

If no one wants to buy then please explain why its worth that price....because some real estate agent says so? ITS WORTHLESS UNTIL THERE IS A BUYER AND THERE ARN'T ANY.

Value and worth are two different things, worth is how much someone is prepared to pay and somewhere in the world there's a buyer who things this price is just right, almost certainly, it may take time but he'll likely get his price eventually.

how will he eventually get his price if there are other properties available better condition with swimmung pool at cheaper price.....................

of coarse your friend who works property will agree with price you find most people involved in property in thailand talk a lot of rubbish

i had some developer tell me he sold 8 units at the peak off the red shirt riots on phuket does not mean i believe him strange as everyu one else says the market is stagnant..

[chiang mai]

If people don't know they exist, don't understand all the options, make an emotional purchase in short time scales (holiday for example), he will get his price or near to. I mean to say, it's not as though there's a Rightmove or Find A Property database on Samui that people can go to, prospective buyers know what they know which in the case of Samui/Phuket is very little.