People Asking Crazy Prices For Land

[jamescollister]

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...

If I could hire people at 300 Baht a day I would be a happy and richer man. A good rubber tapper can make 30,000 a month. I am 7 tappers down, can't find workers. It's not computer science or stock trading, it's tapping rubber trees. Jim

[Khun Jean]

"Floods", "Tsunamis", "Bangkok sinking", "Economic disasters", "Food shortages", "Sky falling"

These are some of the reasons why 'rich' Bangkokians are buying higher elevation and agricultural land.

The peasant can then rent it back and see how long his 500.000 per Rai lasts.

My MIL has some rice fields in her old village, she rents it out, but it will never be sold unless the price is so good that other land can be bought in its place right away. The family will never be without land. I hope the next generation understands this too.

[Pib]

The family will never be without land. I hope the next generation understands this too.

And here's another family's story. According to my mother-in-law, her next door neighbor (a lady named Lek I talk to occasionally) use to own a lot of land and was considered rich in her village...and the mother-in-law even use to work for Lek when they were in their 20's because Lek hired quite a few people to work her land....Lek was doing very well due to the land she owned. But some 50 years later that has all changed....Lek slowly sold off the land in order to give money to her kids who were growing-up...the kids pissed away a lot of the money....now Lek's family is one of the poorest in the village...no more land to sell...just a termite-infested, falling down house is left...Lek and several of the adult children who still live there barely make a living doing odd jobs. Lek is still a great lady but her previous land wealth was squandered by the kids.

[Lancelot]

Whats the old saying "Them thats asks, gets..."

But it was very likely a miscommunication- 28 million is a bit steep...

[TommyUK1960]

The family will never be without land. I hope the next generation understands this too.

And here's another family's story. According to my mother-in-law, her next door neighbor (a lady named Lek I talk to occasionally) use to own a lot of land and was considered rich in her village...and the mother-in-law even use to work for Lek when they were in their 20's because Lek hired quite a few people to work her land....Lek was doing very well due to the land she owned. But some 50 years later that has all changed....Lek slowly sold off the land in order to give money to her kids who were growing-up...the kids pissed away a lot of the money....now Lek's family is one of the poorest in the village...no more land to sell...just a termite-infested, falling down house is left...Lek and several of the adult children who still live there barely make a living doing odd jobs. Lek is still a great lady but her previous land wealth was squandered by the kids.

Kids; Don't you just love them.

Kids Squaundering the familys wealth goes on all over the world. nothing new.

Whats the old saying "Them thats asks, gets..."

But it was very likely a miscommunication- 28 million is a bit steep...

Yes, very steep. Its lucky she was talking to my girlfriend because I would of insulted the lady very badly.

[evanson]

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

The usual bs we've come to expect from those in the property biz, and as to ASEAN, don't make me laugh. From a mindset which says 'the IMF is not my father' to ongoing dispute with the ICJ over a temple and cherry picking every 'FTA' that comes along.

Those who believe there will be any radical change/co-operation with neighbouring countries under this empty acronym are seriously deluded.

[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

The usual bs we've come to expect from those in the property biz, and as to ASEAN, don't make me laugh. From a mindset which says 'the IMF is not my father' to ongoing dispute with the ICJ over a temple and cherry picking every 'FTA' that comes along.

Those who believe there will be any radical change/co-operation with neighbouring countries under this empty acronym are seriously deluded.

Don't know, but when it comes to making money seems border disputes and disagreements disappear. Up my way, border crossing into Lao, lots of different number plates on trucks. A bit of political brinkmanship doesn't seem to slow the trade and or money making. Jim

[ubonrthai]

A piece of empty land not far from me in Ubon just sold. It's about 1km from Chayangkhun Rd. It's only .3 rai and was sold for 2.5 million baht. There's nothing but one tree on it. Seems a bit steep here as well, but that's just one property.

[transam]

A piece of empty land not far from me in Ubon just sold. It's about 1km from Chayangkhun Rd. It's only .3 rai and was sold for 2.5 million baht. There's nothing but one tree on it. Seems a bit steep here as well, but that's just one property.

WOW. Is that 3 Rai or .3 of a Rai.?

[ubonrthai]

.3125ไร or 125ตรังวา or 1.25งาน or .124 acres assuming my little converter is correct.

Edited January 18, 2013 by ubonrthai

[belg]

2 million for the actual land, the rest in her pocket

[BEVUP]

The family will never be without land. I hope the next generation understands this too.

And here's another family's story. According to my mother-in-law, her next door neighbor (a lady named Lek I talk to occasionally) use to own a lot of land and was considered rich in her village...and the mother-in-law even use to work for Lek when they were in their 20's because Lek hired quite a few people to work her land....Lek was doing very well due to the land she owned. But some 50 years later that has all changed....Lek slowly sold off the land in order to give money to her kids who were growing-up...the kids pissed away a lot of the money....now Lek's family is one of the poorest in the village...no more land to sell...just a termite-infested, falling down house is left...Lek and several of the adult children who still live there barely make a living doing odd jobs. Lek is still a great lady but her previous land wealth was squandered by the kids.

such a good & true storie

Thais (or is it eastern & western countries) tend to have no hesitation in selling or hocking for family members

Im an aussie & if i think i had an aussie wife she would kill before that happened & me to personally

Its the same way with wifes family

End up with nothing & not through gambling or drinking

As mentioned above only have the old shack on a rai

So what do they do

Hock it for a ute for the son (30) to work from at the market LUDECREST

Then they start attacking every other family members property

[stoli]

Every home in the area of Pebble Beach Golf Course in California has a "For Sale" sign in its garage. Whenever a big tournament in going to be played there, and the corporate jets bring in their clients, all of those homes put up their "for sale" signs with ridiculous asking prices just to see if some one with lots of money will bite. They do this year after year.

[hyperboyz9]

If you want to buy the land with your gf. The first or second time, let your gf goes to observe with her friend,frist due to sometimes, the landlord get crazy when they see foriegners. 28 m. baht is more expensive than some part of Bangkok..

[TommyUK1960]

If you want to buy the land with your gf. The first or second time, let your gf goes to observe with her friend,frist due to sometimes, the landlord get crazy when they see foriegners. 28 m. baht is more expensive than some part of Bangkok..

Its my girlfriends money and she wants to buy land as the return in the bank is very disappointing.

She goes and looks on her own and makes all the phone calls.

Me; I won't bring any of my money into Thailand, Keep it in the UK.

Up date on story;

She is buying 1 Rai off her friend in Sa kaeo (I think Buriham area)

300,000 and the location is good, the soil is good for growing stuff in what will be the garden. drainage is not a problem.

So the plan is with her money to build a small 2 bed house to farlang standard and grow our own food in the garden.

She will be running her internet business also.

[ubonrthai]

That would be here.

[jamescollister]

If you want to buy the land with your gf. The first or second time, let your gf goes to observe with her friend,frist due to sometimes, the landlord get crazy when they see foriegners. 28 m. baht is more expensive than some part of Bangkok..

Its my girlfriends money and she wants to buy land as the return in the bank is very disappointing.

She goes and looks on her own and makes all the phone calls.

Me; I won't bring any of my money into Thailand, Keep it in the UK.

Up date on story;

She is buying 1 Rai off her friend in Sa kaeo (I think Buriham area)

300,000 and the location is good, the soil is good for growing stuff in what will be the garden. drainage is not a problem.

So the plan is with her money to build a small 2 bed house to farlang standard and grow our own food in the garden.

She will be running her internet business also.

All seems simple until it is not, internet shops and homes may not be allowed if it is farm land.

Thais think they can do what they want on land and they have been able to get away with it for years, until someone bigger comes along.

Be legal and be safe, as some people leaned in my nearest town just recently . Tesco/ Lotus came to town. Shops had been built at the roadside. The road was to be widened, 7 or 14 days notice and the bulldozer cleared the lot.

We had 25 rai of land taken, wife's grandfather gave it to her, low title use it or lose it type. Border army came, we had not used it and they took it.

Check title and usage, most laws here on land reflect French law, if it's for farming it's for farming not houses or internet shops. Jim

[TommyUK1960]

If you want to buy the land with your gf. The first or second time, let your gf goes to observe with her friend,frist due to sometimes, the landlord get crazy when they see foriegners. 28 m. baht is more expensive than some part of Bangkok..

Its my girlfriends money and she wants to buy land as the return in the bank is very disappointing.

She goes and looks on her own and makes all the phone calls.

Me; I won't bring any of my money into Thailand, Keep it in the UK.

Up date on story;

She is buying 1 Rai off her friend in Sa kaeo (I think Buriham area)

300,000 and the location is good, the soil is good for growing stuff in what will be the garden. drainage is not a problem.

So the plan is with her money to build a small 2 bed house to farlang standard and grow our own food in the garden.

She will be running her internet business also.

All seems simple until it is not, internet shops and homes may not be allowed if it is farm land.

Thais think they can do what they want on land and they have been able to get away with it for years, until someone bigger comes along.

Be legal and be safe, as some people leaned in my nearest town just recently . Tesco/ Lotus came to town. Shops had been built at the roadside. The road was to be widened, 7 or 14 days notice and the bulldozer cleared the lot.

We had 25 rai of land taken, wife's grandfather gave it to her, low title use it or lose it type. Border army came, we had not used it and they took it.

Check title and usage, most laws here on land reflect French law, if it's for farming it's for farming not houses or internet shops. Jim

Great advice. Thanks

Some Thais think they can do anything and do just that.

If it is state or highway land Thai authorities can do what they like.

My girl says the genral guide is the land between electric poles and road is Highway. People do use this land.

As for land that is chanute I believe you keep everything inside the boundaries.

She will get legal advice before proceeding.

[LongTimeLurker]

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.

28 is 28, 280 is 280, 2,800 is 2,800, 280,000 is 280,000, 2,800,00 is 2,800,000 and 28,000,000 is 28,000,000.

That's a LOT of zeros to get wrong especially when Thais don't use zeros but use pahn, meun and larn. I always find Asians are at least a factor of 10 out in their English numbers, even educated engineers, never mind rice farmers.

[LongTimeLurker]

The family will never be without land. I hope the next generation understands this too.

And here's another family's story. According to my mother-in-law, her next door neighbor (a lady named Lek I talk to occasionally) use to own a lot of land and was considered rich in her village...and the mother-in-law even use to work for Lek when they were in their 20's because Lek hired quite a few people to work her land....Lek was doing very well due to the land she owned. But some 50 years later that has all changed....Lek slowly sold off the land in order to give money to her kids who were growing-up...the kids pissed away a lot of the money....now Lek's family is one of the poorest in the village...no more land to sell...just a termite-infested, falling down house is left...Lek and several of the adult children who still live there barely make a living doing odd jobs. Lek is still a great lady but her previous land wealth was squandered by the kids.

Similar story from my Indian friend who is considered a wealthy landowner in his village (relatively speaking)

One third has to go to dowry for the daughter, and one third each to the 2 sons. So immediately the wealth is divided and the kids can only accumulate more wealth by working harder and getting more land.

If they maintain the same land it gets divided to their kids, or they sell it and take the cash and ther's no more land for inheritence.

So there's no more wealth in the family/

[Langsuan Man]

There is no downside for Thais keeping land in the family. Property taxes that are so low that most places don't even bother sending out tax bills. So the Thais keep the land and the state makes all the improvements to the surroundings and the Thai benefits due the increase in property values

Succesive governments have attempted to tax unused land to force people to either use it or at least pay to keep it but so far the powers to be won't let that happen

As Will Rodgers said: Buy land, they arn't making any more of it

[Pib]

Yea, when the land pie gets divided out to a bunch of kids the pieces may not be big enough to where the kids want to hold onto small pieces of land (or they have the urge for a new car) and they end of selling. So, the family that use to have a nice sized piece of land when Mom & Dad were alive end up selling off all the land.