Tung Saliam

[chiang mai]

Does anyone have any idea as to the per Rai cost of land in rural Tung Saliam? We are contemplating 23 Rai for 3.6mill., THB156K per rai sounds reasonable to me chanotte, walled, mix of paddy and flat industrial with useless structures on it.

[chiang mai]

Bump, nobody from Sukhothai around?

[amsterdammer]

The golden rule is that the price of any asset is the price that the purchaser is willing to pay, even more so in rural Thailand. Comparisons to neighboring land, or even land that your best friends aunties cousins work colleague once heard about are not viable.

From 2010, this older classified appears to be offering 36 Rai in Thung Saliam at 15,000 per rai. http://www.ddproperty.com/en/property/land-in-thung-saliam-sukhothai-71538

Usual factors such as good road access, the availability of electricity + water, and even more prominent now, the susceptibility to flooding, affect the potential sale price. Not to mention how prices often sky rocket if it becomes known that a rich farang is in town and ready to splash the cash.

Of course, the all-important paperwork (land title and chanote) need to be in order before taking any serious decisions.

Good luck with it, however you choose to progress…..

[chiang mai]

The golden rule is that the price of any asset is the price that the purchaser is willing to pay, even more so in rural Thailand. Comparisons to neighboring land, or even land that your best friends aunties cousins work colleague once heard about are not viable.

From 2010, this older classified appears to be offering 36 Rai in Thung Saliam at 15,000 per rai. http://www.ddpropert...sukhothai-71538

Usual factors such as good road access, the availability of electricity + water, and even more prominent now, the susceptibility to flooding, affect the potential sale price. Not to mention how prices often sky rocket if it becomes known that a rich farang is in town and ready to splash the cash.

Of course, the all-important paperwork (land title and chanote) need to be in order before taking any serious decisions.

Good luck with it, however you choose to progress…..

Thanks for that and my apologies for not seeing your repsonse. As it turns out we went down there to look at the land, it's 27 rai comprising a 4 rai lake, seventeen rai rice paddy and the remainder is flat land with a warehouse type structure on it, electric to the centre of the land and mostly all walled - one dirt road at one end and access to a concrete road at the other, it would be ideal for someone who wants to start a business, say fish farm.

As for prices, the above was asking 150k per rai or 4 mill in total, we saw examples of owners wanting stupid numbers for rice paddy, one wanted a staggering 2.9 mill for one rai! Another house owner wanted 3.5mill for a 1 mill house on 1.5 rai, another wanted 1.5 mill for something that would have to be torn down, on a quarter rai. There's no doubt that prices there have gone crazy and everyone's trying to get in on the act, makes it all very difficult to know what fair value might be at any point in time but for me, I'm going to stay on the sidel;ines until the bubble bursts.

BTW my wife just looked at the land advertised in the link you spotted, the land has no title whatsoever, it's land that a family has been paying tax on but there is no documentation whatsoever. The 27 Rai I described earlier is not Chanotte as it turns out but is Nor Sor Sam Gor which is close enough for horseshoes.

Edited October 20, 2012 by chiang mai

[Delight]

My golden rule is that if you are buying in an unfamiliar market place then use an agent..

He is only rewarded when the deal is done . Make it a flat fee-not a percentage.

You of course can have more than one agent. You only pay the fee once.

Play one against the others.

Has this tactic every been employed in Thailand for the purchase of land?

Edited October 20, 2012 by Delight

[chiang mai]

My golden rule is that if you are buying in an unfamiliar market place then use an agent..

He is only rewarded when the deal is done . Make it a flat fee-not a percentage.

You of course can have more than one agent. You only pay the fee once.

Play one against the others.

Has this tactic every been employed in Thailand for the purchase of land?

My sister in law is an agent, by means of this post and other measures I was trying to verify that what she said is correct.

[Khun Jean]

Rice paddy is worth max 50k. A lake can be valuable when you need it otherwise it is worth 0.

In Thailand there is no bubble. Prices grow steady with inflation, not more value only higher amounts of paper money.

Nothing bubbly about that. Exchange rates does not really help us foreigners also, makes it feel double expensive compared to a few years ago (euro-50, pound-70).

That some are asking for insane prices does also not mean signs of a bubble it just means the ones asking are insane.

I have seen land for sale 70 rai for 1.6 million. Also rural, was sold quickly. Seen 20 rai for 2 million. Was on the market for 5 years, 5 years ago insane, now 'normal'?. I just think someone overpaid by a factor of 2 at least.

There is no shortage of rural land, it is in over abundance. Close to a village or city prices of course go up.

Few years ago we bought 7 rai for 800k, now worth about 1.5M as the small village is growing slowly towards it. Wait another ten years and the village will be a small city and overtake the boundary of the land. Probably worth a lot more then, but you never know, it is all a gamble.

This is however in an area that has tourist potential, real rural will stay rural for many years to come.

No moral to the story, just accept that prices are very irregular. Stay at a place long enough to get a feel what is worth what. Without that background it is impossible to tell.

[chiang mai]

Rice paddy is worth max 50k. A lake can be valuable when you need it otherwise it is worth 0.

In Thailand there is no bubble. Prices grow steady with inflation, not more value only higher amounts of paper money.

Nothing bubbly about that. Exchange rates does not really help us foreigners also, makes it feel double expensive compared to a few years ago (euro-50, pound-70).

That some are asking for insane prices does also not mean signs of a bubble it just means the ones asking are insane.

I have seen land for sale 70 rai for 1.6 million. Also rural, was sold quickly. Seen 20 rai for 2 million. Was on the market for 5 years, 5 years ago insane, now 'normal'?. I just think someone overpaid by a factor of 2 at least.

There is no shortage of rural land, it is in over abundance. Close to a village or city prices of course go up.

Few years ago we bought 7 rai for 800k, now worth about 1.5M as the small village is growing slowly towards it. Wait another ten years and the village will be a small city and overtake the boundary of the land. Probably worth a lot more then, but you never know, it is all a gamble.

This is however in an area that has tourist potential, real rural will stay rural for many years to come.

No moral to the story, just accept that prices are very irregular. Stay at a place long enough to get a feel what is worth what. Without that background it is impossible to tell.

I can't disagree, the best return on paddy is around 4k per Rai so until the price of rice changes it's never going to be worth much more than 50k, that wont stop some from asking 2.9 mill howver and doubtl;ess somebody will come along who is prepared to pay that! The only part I don't understand is why there's such a shortage of land for sale in that area, are people sitting on it in hopes the value will rise or is it that they don't need to sell because they can get loans from the banks, methinks it's the latter.

[Khun Jean]

Now there is a bubble.

The more people loan from the banks the more land will be sold because the bank is demanding money.

Of course a 'loan shark' will be used first making the problem even bigger.

Must have that shiny new toy......