People Asking Crazy Prices For Land

[TommyUK1960]

My girlfriend wants to buy some land.

So we had a drive to Udon Thani.

Just off the number 2 road going south we see 2 Rai of land behind a industrial unit.

My girl inquires on the phone, "How much?"

The lady said "28 million baht". The land was just basic land not ready for building.

I just said to my girl I think a lot of land owners up here are on Yabba.

If She had 28 million we could get nice sea front land for that.

Whats going on in Thailand? People are asking stupid prices but I don't think they really want to sell.

Edited January 14, 2013 by TommyUK1960

[utalkin2me]

Opening price in a negotiation is almost meaningless essentially. It should be, for your sake, anyway. Offer below what you are willing to pay and work from there, assuming you have all the other details worked out, like how not to lose every last baht of what you "buy".

I actually see this all the time and it frustrates me a little, my bad I guess. Don't get offended by asking price, nor by offers (if selling). It doesn't make any negotiating sense.

[evanson]

LOL! There's been two rai up for sale for 17 million in Rawai on Phuket. Hill land behind the Mangosteen. It still hasn't sold.

The majority of Thais just pick a number. At 28 million in Udon as an opening, I wouldn't waste my breath even attempting to negotiate. It'll sit there for years.

They also are still ignorant of the fact that no one's buying and hasn't for years. Just a bunch of carpetbaggers and sod all else. Save your money or join the cb's.

Edited January 14, 2013 by evanson

[arthurwait]

In Esarn ? I think she's got it at least a couple of zeros wrong there.

Well Taksin did tell them they would all be rich in 6 months.

[transam]

In Esarn ? I think she's got it at least a couple of zeros wrong there.

Well Taksin did tell them they would all be rich in 6 months.

Farangs, lets be careful out there eh, trust KNOW ONE.

[TommoPhysicist]

Thais often get zeros wrong when translating.

Did you get your gf to write the numbers down on paper ......... it really, really helps.

She could have easily mis-translated an answer that was originally 28,000 or 280,000

[RKASA]

Most likely 2.8m near highway or maybe 280k if out of town a long way. Then again in the flood plain too with a the need to bring in fill dirt, but if you are looking for dry land - build-able or an already built home - I know of a 2 ria plot with a good well, large single story house, and out buildings, fenced and walls etc 2m baht turn key livable - good location with many foreigner owned homes and properties within a shout.

[transam]

Thais often get zeros wrong when translating.

Did you get your gf to write the numbers down on paper ......... it really, really helps.

She could have easily mis-translated an answer that was originally 28,000 or 280,000

Or on an earner. Not being negative but l know a guy who was duped big time.

[aarn]

Shoot for the stars, accept the moon, real estate speculation is worldwide. AA

[Mosha]

Prices are like how long is a piece of string. If they are desperate to sell, the price is low.

[jamescollister]

LOL! There's been two rai up for sale for 17 million in Rawai on Phuket. Hill land behind the Mangosteen. It still hasn't sold.

The majority of Thais just pick a number. At 28 million in Udon as an opening, I wouldn't waste my breath even attempting to negotiate. It'll sit there for years.

They also are still ignorant of the fact that no one's buying and hasn't for years. Just a bunch of carpetbaggers and sod all else. Save your money or join the cb's.

Not in parts of Issan it's not, lands being snapped up fast and land zoned for industry even faster. Lots a businesses relocating for fear of more flooding in the south. New highways going in everywhere, before they are finished construction of buildings has begun.

Been here 10 years and live at the end of know where and can't believe the pace of change. Maybe a bubble that will bust, but it may also be a C change from farming to industrial. Jim

[TommyUK1960]

Thais often get zeros wrong when translating.

Did you get your gf to write the numbers down on paper ......... it really, really helps.

She could have easily mis-translated an answer that was originally 28,000 or 280,000

It was my girlfriend talking to the lady in Thai.

So no mistake as to the price.

I am not intrested in buying anything in Thailand and will keep my money out of the country.

[jamescollister]

This was posted on the Issan forum

Udon enjoying a property boom prior to AEC kickoff

Somluck Srimalee

The Nation

UDON THANI: -- Listed property firms are itching to roll out residential projects in Udon Thani before the Asean Economic Community gets going in 2015, as the northeastern province is the gateway to Vientiane, the capital of Laos.

"Udon Thani has all the facilities to support people's lifestyles. Most retail businesses have opened a branch in this province," Naporn Sunthornchancharoen, senior executive vice president of Land & Houses, said last week.

"There's also infrastructure such as roads and a ring road linking Udon to Vientiane.

"It is suitable for Thai and foreign investors to use as their hub to invest in Laos when the AEC blooms in 2015."

According to a survey by The Nation, Land & Houses, Sansiri, Supalai, LPN Development and Pruksa Real Estate bought land in Udon after they saw strong demand from both local and foreign investors. Most buyers have a business in Vientiane but prefer to live in Udon because it has better facilities and is only two hours away by car.

Srettha Thavisin, president of Sansiri, said the company sees potential in Udon for both high-rise condominiums and low-rise projects, mainly single family homes and townhouses. The company has bought land to serve demand from both local customers and foreigners who operate a business in this province or are venturing into Vientiane.

Demand is focused on homes costing less than Bt5 million per unit, said Opas Sripayak, managing director of LPN Development. The company is considering condos priced at not more than Bt2 million per unit in this province.

Land & Houses became interested in Udon when it noticed the demand from both local investors and those from other provinces who set up in Udon to export or trade with Vientiane.

Land prices in the central business district of Udon have shown signs of doubling, said Porntip Thanasriwanitchai, president of the Udon Thani Property Club.

Leading property firms from Bangkok have started to look for land in the CBD. For example, Land & Houses has succeeded in securing property to develop a residential project this or next year, while Supalai also has to find a site to develop residences in this province.

The cost to buy centrally located land has surged at least 100 per cent from Bt100,000 per square wa to Bt150,000-Bt200,000, she added.

The Udon Thani Provincial Lands Office has raised assessed values by an average of 61 per cent.

For example, land on Posri Road in Udon Thani city shows an official reference price of Bt150,000 per square wah or Bt60 million per rai.

But the market price averages Bt200,000 per square wah, Porntip said.

Udon Thani's property market averages Bt8 billion a year, of which a third is developed by 22 local builders, a third by landowners who hire local contractors and a third by local homebuilders offering designs to landowners wanting to build a home.

Housing demand from natives of Udon also comes from those who marry foreigners and those who work overseas and send money back to their family.

They gravitate towards single family homes priced Bt2 million-Bt3 million with an average of 120 square metres of space and two to three bedrooms, she said.

-- The Nation 2013-01-14

[TommyUK1960]

This was posted on the Issan forum

Udon enjoying a property boom prior to AEC kickoff

Somluck Srimalee

The Nation

UDON THANI: -- Listed property firms are itching to roll out residential projects in Udon Thani before the Asean Economic Community gets going in 2015, as the northeastern province is the gateway to Vientiane, the capital of Laos.

"Udon Thani has all the facilities to support people's lifestyles. Most retail businesses have opened a branch in this province," Naporn Sunthornchancharoen, senior executive vice president of Land & Houses, said last week.

"There's also infrastructure such as roads and a ring road linking Udon to Vientiane.

"It is suitable for Thai and foreign investors to use as their hub to invest in Laos when the AEC blooms in 2015."

According to a survey by The Nation, Land & Houses, Sansiri, Supalai, LPN Development and Pruksa Real Estate bought land in Udon after they saw strong demand from both local and foreign investors. Most buyers have a business in Vientiane but prefer to live in Udon because it has better facilities and is only two hours away by car.

Srettha Thavisin, president of Sansiri, said the company sees potential in Udon for both high-rise condominiums and low-rise projects, mainly single family homes and townhouses. The company has bought land to serve demand from both local customers and foreigners who operate a business in this province or are venturing into Vientiane.

Demand is focused on homes costing less than Bt5 million per unit, said Opas Sripayak, managing director of LPN Development. The company is considering condos priced at not more than Bt2 million per unit in this province.

Land & Houses became interested in Udon when it noticed the demand from both local investors and those from other provinces who set up in Udon to export or trade with Vientiane.

Land prices in the central business district of Udon have shown signs of doubling, said Porntip Thanasriwanitchai, president of the Udon Thani Property Club.

Leading property firms from Bangkok have started to look for land in the CBD. For example, Land & Houses has succeeded in securing property to develop a residential project this or next year, while Supalai also has to find a site to develop residences in this province.

The cost to buy centrally located land has surged at least 100 per cent from Bt100,000 per square wa to Bt150,000-Bt200,000, she added.

The Udon Thani Provincial Lands Office has raised assessed values by an average of 61 per cent.

For example, land on Posri Road in Udon Thani city shows an official reference price of Bt150,000 per square wah or Bt60 million per rai.

But the market price averages Bt200,000 per square wah, Porntip said.

Udon Thani's property market averages Bt8 billion a year, of which a third is developed by 22 local builders, a third by landowners who hire local contractors and a third by local homebuilders offering designs to landowners wanting to build a home.

Housing demand from natives of Udon also comes from those who marry foreigners and those who work overseas and send money back to their family.

They gravitate towards single family homes priced Bt2 million-Bt3 million with an average of 120 square metres of space and two to three bedrooms, she said.

-- The Nation 2013-01-14

Don't these idiots realize that they are pricing them selves out the market.

When they 2015 Aisian thing comes to be there are better and more affordable places than Udon Thani.

As regards farlang marrying Thai woman that is on the decrease as the demographics of tourism to Thailand is changing.

The sex tourist with cash is on the decline as the new mass tourist are Russian and they don't want Thai woman (Got there own sexy girls)

The bubble is going to be far greater than 1997.

I am not a lover of Thailand and this may work to my advantage as I am Talking my girl into leaving.

[Khun Jean]

Prices reflect the willingness to sell.

Most landowners have no debts or recurring costs. The need to sell is not there.

The need to keep it in the family is higher.

If the land is not sold for a high price then keep it so their children can sell it for a high price, or their grandchildren.

If the choice is to keep the land or accept fiat money that devalues all the time, the choice for most is easy.

Edited January 14, 2013 by Khun Jean

[transam]

This was posted on the Issan forum

Udon enjoying a property boom prior to AEC kickoff

Somluck Srimalee

The Nation

UDON THANI: -- Listed property firms are itching to roll out residential projects in Udon Thani before the Asean Economic Community gets going in 2015, as the northeastern province is the gateway to Vientiane, the capital of Laos.

"Udon Thani has all the facilities to support people's lifestyles. Most retail businesses have opened a branch in this province," Naporn Sunthornchancharoen, senior executive vice president of Land & Houses, said last week.

"There's also infrastructure such as roads and a ring road linking Udon to Vientiane.

"It is suitable for Thai and foreign investors to use as their hub to invest in Laos when the AEC blooms in 2015."

According to a survey by The Nation, Land & Houses, Sansiri, Supalai, LPN Development and Pruksa Real Estate bought land in Udon after they saw strong demand from both local and foreign investors. Most buyers have a business in Vientiane but prefer to live in Udon because it has better facilities and is only two hours away by car.

Srettha Thavisin, president of Sansiri, said the company sees potential in Udon for both high-rise condominiums and low-rise projects, mainly single family homes and townhouses. The company has bought land to serve demand from both local customers and foreigners who operate a business in this province or are venturing into Vientiane.

Demand is focused on homes costing less than Bt5 million per unit, said Opas Sripayak, managing director of LPN Development. The company is considering condos priced at not more than Bt2 million per unit in this province.

Land & Houses became interested in Udon when it noticed the demand from both local investors and those from other provinces who set up in Udon to export or trade with Vientiane.

Land prices in the central business district of Udon have shown signs of doubling, said Porntip Thanasriwanitchai, president of the Udon Thani Property Club.

Leading property firms from Bangkok have started to look for land in the CBD. For example, Land & Houses has succeeded in securing property to develop a residential project this or next year, while Supalai also has to find a site to develop residences in this province.

The cost to buy centrally located land has surged at least 100 per cent from Bt100,000 per square wa to Bt150,000-Bt200,000, she added.

The Udon Thani Provincial Lands Office has raised assessed values by an average of 61 per cent.

For example, land on Posri Road in Udon Thani city shows an official reference price of Bt150,000 per square wah or Bt60 million per rai.

But the market price averages Bt200,000 per square wah, Porntip said.

Udon Thani's property market averages Bt8 billion a year, of which a third is developed by 22 local builders, a third by landowners who hire local contractors and a third by local homebuilders offering designs to landowners wanting to build a home.

Housing demand from natives of Udon also comes from those who marry foreigners and those who work overseas and send money back to their family.

They gravitate towards single family homes priced Bt2 million-Bt3 million with an average of 120 square metres of space and two to three bedrooms, she said.

-- The Nation 2013-01-14

Don't these idiots realize that they are pricing them selves out the market.

When they 2015 Aisian thing comes to be there are better and more affordable places than Udon Thani.

As regards farlang marrying Thai woman that is on the decrease as the demographics of tourism to Thailand is changing.

The sex tourist with cash is on the decline as the new mass tourist are Russian and they don't want Thai woman (Got there own sexy girls)

The bubble is going to be far greater than 1997.

I am not a lover of Thailand and this may work to my advantage as I am Talking my girl into leaving.

So where will you take her that will fore fill what she likes ?.

[TommoPhysicist]

Thais often get zeros wrong when translating.

Did you get your gf to write the numbers down on paper ......... it really, really helps.

She could have easily mis-translated an answer that was originally 28,000 or 280,000

It was my girlfriend talking to the lady in Thai.

So no mistake as to the price.

I am not intrested in buying anything in Thailand and will keep my money out of the country.

That wasn't what I suggested.

I suggested you gf's English was not good enough to translate Thai numbers into English numbers correctly.

And you didn't answer, did she speak the price or write it down for you?

Edited January 14, 2013 by TommoPhysicist

[jamescollister]

This was posted on the Issan forum

Udon enjoying a property boom prior to AEC kickoff

Somluck Srimalee

The Nation

UDON THANI: -- Listed property firms are itching to roll out residential projects in Udon Thani before the Asean Economic Community gets going in 2015, as the northeastern province is the gateway to Vientiane, the capital of Laos.

"Udon Thani has all the facilities to support people's lifestyles. Most retail businesses have opened a branch in this province," Naporn Sunthornchancharoen, senior executive vice president of Land & Houses, said last week.

"There's also infrastructure such as roads and a ring road linking Udon to Vientiane.

"It is suitable for Thai and foreign investors to use as their hub to invest in Laos when the AEC blooms in 2015."

According to a survey by The Nation, Land & Houses, Sansiri, Supalai, LPN Development and Pruksa Real Estate bought land in Udon after they saw strong demand from both local and foreign investors. Most buyers have a business in Vientiane but prefer to live in Udon because it has better facilities and is only two hours away by car.

Srettha Thavisin, president of Sansiri, said the company sees potential in Udon for both high-rise condominiums and low-rise projects, mainly single family homes and townhouses. The company has bought land to serve demand from both local customers and foreigners who operate a business in this province or are venturing into Vientiane.

Demand is focused on homes costing less than Bt5 million per unit, said Opas Sripayak, managing director of LPN Development. The company is considering condos priced at not more than Bt2 million per unit in this province.

Land & Houses became interested in Udon when it noticed the demand from both local investors and those from other provinces who set up in Udon to export or trade with Vientiane.

Land prices in the central business district of Udon have shown signs of doubling, said Porntip Thanasriwanitchai, president of the Udon Thani Property Club.

Leading property firms from Bangkok have started to look for land in the CBD. For example, Land & Houses has succeeded in securing property to develop a residential project this or next year, while Supalai also has to find a site to develop residences in this province.

The cost to buy centrally located land has surged at least 100 per cent from Bt100,000 per square wa to Bt150,000-Bt200,000, she added.

The Udon Thani Provincial Lands Office has raised assessed values by an average of 61 per cent.

For example, land on Posri Road in Udon Thani city shows an official reference price of Bt150,000 per square wah or Bt60 million per rai.

But the market price averages Bt200,000 per square wah, Porntip said.

Udon Thani's property market averages Bt8 billion a year, of which a third is developed by 22 local builders, a third by landowners who hire local contractors and a third by local homebuilders offering designs to landowners wanting to build a home.

Housing demand from natives of Udon also comes from those who marry foreigners and those who work overseas and send money back to their family.

They gravitate towards single family homes priced Bt2 million-Bt3 million with an average of 120 square metres of space and two to three bedrooms, she said.

-- The Nation 2013-01-14

Don't these idiots realize that they are pricing them selves out the market.

When they 2015 Aisian thing comes to be there are better and more affordable places than Udon Thani.

As regards farlang marrying Thai woman that is on the decrease as the demographics of tourism to Thailand is changing.

The sex tourist with cash is on the decline as the new mass tourist are Russian and they don't want Thai woman (Got there own sexy girls)

The bubble is going to be far greater than 1997.

I am not a lover of Thailand and this may work to my advantage as I am Talking my girl into leaving.

Which market are they pricing themselves out of, think even at the high land prices now they are still very competitive with the USA or EU and many other parts of the world.

It's a global economy, if you can build cars cheaper here than in the UK etc then those big companies will come. It's not like no one can read or write, there is no war really, small civil disturbance at times. No different to the west [riots in the UK and France ] and unlike most of the west not taxed to breaking point and the country is not broke.Jim

[arthurwait]

This was posted on the Issan forum

Udon enjoying a property boom prior to AEC kickoff

Somluck Srimalee

The Nation

UDON THANI: -- Listed property firms are itching to roll out residential projects in Udon Thani before the Asean Economic Community gets going in 2015, as the northeastern province is the gateway to Vientiane, the capital of Laos.

"Udon Thani has all the facilities to support people's lifestyles. Most retail businesses have opened a branch in this province," Naporn Sunthornchancharoen, senior executive vice president of Land & Houses, said last week.

"There's also infrastructure such as roads and a ring road linking Udon to Vientiane.

"It is suitable for Thai and foreign investors to use as their hub to invest in Laos when the AEC blooms in 2015."

According to a survey by The Nation, Land & Houses, Sansiri, Supalai, LPN Development and Pruksa Real Estate bought land in Udon after they saw strong demand from both local and foreign investors. Most buyers have a business in Vientiane but prefer to live in Udon because it has better facilities and is only two hours away by car.

Srettha Thavisin, president of Sansiri, said the company sees potential in Udon for both high-rise condominiums and low-rise projects, mainly single family homes and townhouses. The company has bought land to serve demand from both local customers and foreigners who operate a business in this province or are venturing into Vientiane.

Demand is focused on homes costing less than Bt5 million per unit, said Opas Sripayak, managing director of LPN Development. The company is considering condos priced at not more than Bt2 million per unit in this province.

Land & Houses became interested in Udon when it noticed the demand from both local investors and those from other provinces who set up in Udon to export or trade with Vientiane.

Land prices in the central business district of Udon have shown signs of doubling, said Porntip Thanasriwanitchai, president of the Udon Thani Property Club.

Leading property firms from Bangkok have started to look for land in the CBD. For example, Land & Houses has succeeded in securing property to develop a residential project this or next year, while Supalai also has to find a site to develop residences in this province.

The cost to buy centrally located land has surged at least 100 per cent from Bt100,000 per square wa to Bt150,000-Bt200,000, she added.

The Udon Thani Provincial Lands Office has raised assessed values by an average of 61 per cent.

For example, land on Posri Road in Udon Thani city shows an official reference price of Bt150,000 per square wah or Bt60 million per rai.

But the market price averages Bt200,000 per square wah, Porntip said.

Udon Thani's property market averages Bt8 billion a year, of which a third is developed by 22 local builders, a third by landowners who hire local contractors and a third by local homebuilders offering designs to landowners wanting to build a home.

Housing demand from natives of Udon also comes from those who marry foreigners and those who work overseas and send money back to their family.

They gravitate towards single family homes priced Bt2 million-Bt3 million with an average of 120 square metres of space and two to three bedrooms, she said.

-- The Nation 2013-01-14

I can't decide whether this is more like a football agent telling the press that there is interest in his client when there isn't as he wants a commission or the millenium bug.

[Pib]

Yes, a lot of Thai's will put a For Sale sign on their land/house but they have already decided they will only sell if they can get a really high price. Otherwise, they are content to just hold onto the land to sell in the future or just pass it along to the children.

[jamescollister]

I take take very little notice of what real estate agents and or Government people talking up things, but see the prices being paid out here. People are spending big time, companies just come and offer money to good to refuse.

An example, a bank bought land 2 years ago to put up a massive rice collection point. Understand they had identified 3 sites. Prime site, useless low production rice land, but on the highway, multiple owners. Offer 1 mill Baht per rai, 48 hours to get together and sign, or they go to site 2.

Don't think it took more than 10 minutes and the owners had signed. Small change for big business, but big bucks for a poor rice farmer.

Poor rice farmer will buy a car and be rich for a few years, then he will get a job working at the rice factory, on what was once his land. Jim

[merijn]

LOL! There's been two rai up for sale for 17 million in Rawai on Phuket. Hill land behind the Mangosteen. It still hasn't sold.

The majority of Thais just pick a number. At 28 million in Udon as an opening, I wouldn't waste my breath even attempting to negotiate. It'll sit there for years.

They also are still ignorant of the fact that no one's buying and hasn't for years. Just a bunch of carpetbaggers and sod all else. Save your money or join the cb's.

I think the reason that this land is not sold is not the price but the uncertainty about the land papers.

As you know their are a lot of land probes going on as many hill side plots are on illegal claimed land. (forestry land which can't be sold)

Would you pay that money without knowing if you can own the land in the first place.

[davejones]

Prices reflect the willingness to sell.

Most landowners have no debts or recurring costs. The need to sell is not there.

The need to keep it in the family is higher.

If the land is not sold for a high price then keep it so their children can sell it for a high price, or their grandchildren.

If the choice is to keep the land or accept fiat money that devalues all the time, the choice for most is easy.

Same with my gf's family. They have land which they will sell if they can get a great price. If not, they'll just give to the children. They aren't fussed if the sell or not. They'll only sell for the right price.

[davejones]

Thais often get zeros wrong when translating.

Did you get your gf to write the numbers down on paper ......... it really, really helps.

She could have easily mis-translated an answer that was originally 28,000 or 280,000

It was my girlfriend talking to the lady in Thai.

So no mistake as to the price.

I am not intrested in buying anything in Thailand and will keep my money out of the country.

That wasn't what I suggested.

I suggested you gf's English was not good enough to translate Thai numbers into English numbers correctly.

And you didn't answer, did she speak the price or write it down for you?

When someone say 28 million, there are no zeros to get wrong. 28 is 28.

[transam]

I know someone asking 10 m for house and land. Not worth it. Been offered 6m . I would of bit their hand off but the Thai wife wants ..................................

[davejones]

Yes, a lot of Thai's will put a For Sale sign on their land/house but they have already decided they will only sell if they can get a really high price. Otherwise, they are content to just hold onto the land to sell in the future or just pass it along to the children.

Same in all countries. Everyone would sell their land/house for an inflated price. If someone offered double for my London condo, I'd be happy to sell. But I have no intention of selling for the current market price. Nothing Thai about wanting a good price.

[TommyUK1960]

I know someone asking 10 m for house and land. Not worth it. Been offered 6m . I would of bit their hand off but the Thai wife wants ..................................

Yes; My girlfriend hates the Thai wify. Its guaranteed the price is going to be crazy;

[Pib]

Yes, a lot of Thai's will put a For Sale sign on their land/house but they have already decided they will only sell if they can get a really high price. Otherwise, they are content to just hold onto the land to sell in the future or just pass it along to the children.

Same in all countries. Everyone would sell their land/house for an inflated price. If someone offered double for my London condo, I'd be happy to sell. But I have no intention of selling for the current market price. Nothing Thai about wanting a good price.

Agree..but I think many Thai's have taken it to the next level.

[Lazy Sod]

Land is being snapped up around Khon Kaen very fast, my wife found 3 rai available and negotiated 500,000 with the seller last week, then she flew up from BKK to pay the deposit only to find the guy had sold it the day before for 530,000. We drove around looking for alternatives and I noticed other people (mostly rich looking Thai-Chinese) were also surveying some of the same plots. It's crazy around there at the moment, like a gold rush. Farmers can't quite believe the prices they are being offered, but at the same time they are not stupid and know the current prices so they won't sell cheap. Wife ended up buying almost 3 rai 15 mins drive to KK on a good road near to the main highway with electricity, water, telephone at 500,000 per rai. Tried to negotiate to 450,000 but it was clear they had no intention of dropping - they know they can sell it for this price and our experience on the previous plot confirmed this.

[Phronesis]

Been here 10 years and live at the end of know where and can't believe the pace of change. Maybe a bubble that will bust, but it may also be a C change from farming to industrial. Jim

Yes I am sure that the recent wage increase will put a rocket under Thai industry...