Khao Yai - Korat

[Blackandwhite]

I have noted that there are lots of 5star resort popping up in Khao Yai, is it to late to buy into this area as an investment for land purchase ??? If so where, anyone done it doing it ??? The area seams to be attracting lots of very rich Thais paying in excess of 8500 baht a night for pool villas, also these are available on purchase with the guarantee of rental each years to pay toward any mortgage or as an investment. Thoughts ??

[givenall]

_{they are all overpriced and will take years to be competed. in our last trip to look around, find out may new ones are just waiting and large complexes have only on or two houses being build and that is after 3 years from their opening and look like ghost towns}

_{I have decided to stay clear from them}

Edited February 24, 2013 by givenall

[diddums]

To late to buy at the right price now...way too expensive.

The greed about town has turned to mountains.

5 million per rai is not uncommon and that is not on the main road.

The only ones that can afford it now are developers and what comes with that high price is intensive development.

No more big blocks with space, it is all 200wah blocks or condos now to be affordable to the masses.

[Dancealot]

So the Tuscany pat of Thailand is being raped by the developers..? It's a lovely area i feel sad to read it is being 'dug up'.

[jbrain]

To late to buy at the right price now...way too expensive.

The greed about town has turned to mountains.

5 million per rai is not uncommon and that is not on the main road.

The only ones that can afford it now are developers and what comes with that high price is intensive development.

No more big blocks with space, it is all 200wah blocks or condos now to be affordable to the masses.

But if developers can afford those plots, they will need to sell them with a profit to the same people who can't afford them now

[diddums]

To late to buy at the right price now...way too expensive.

The greed about town has turned to mountains.

5 million per rai is not uncommon and that is not on the main road.

The only ones that can afford it now are developers and what comes with that high price is intensive development.

No more big blocks with space, it is all 200wah blocks or condos now to be affordable to the masses.

But if developers can afford those plots, they will need to sell them with a profit to the same people who can't afford them now

No...they cut them up much smaller, or did before...now the price has stepped up to the next level so the only way to cash in to the affordable price is to go up...and build condos so that they can sell multiple levels above the same single rai of land.

The market is for thai/bangkok holiday homes and 5 mill for land and then 5 mill for a house...or say 3 even, so 8mill for a holiday house is out of most bangkokians reach....so build up and sell condos for 2 mill etc.

There is one block that was for sale 4 years ago for 160 mill as a foreclosure from the bank. The developers are now selling homes on it for 50 mill plus. This is in an estate of 160 rai.

The number of condos going up in the last 18 months is ridiculous.

Edited February 24, 2013 by diddums

[rgs2001uk]

these are available on purchase with the guarantee of rental each years to pay toward any mortgage or as an investment. Thoughts ??

It wasnt so long ago I used to drive to Pattaya and see the same BS, 12% ROI guaranteed, I wonder how many suckers fell for that one?

If it sounds too good to be true it probably is.

Go to the other side of the 304 if you want land.

[Blackandwhite]

The rental payback is only a small offering as a yield, it helps a little but does not make unless cash purchase

[kaxper]

just dont buy anything you can't picture yourself living in when you reach old age. pick a nice area, good facilities, and good neighbors. i mean, khao yai is a nice place and will grow over time in value, but the rush to build now is also driven by new zoning laws that will prohibit further building of high rises and resorts in the near future.

[diddums]

just dont buy anything you can't picture yourself living in when you reach old age. pick a nice area, good facilities, and good neighbors. i mean, khao yai is a nice place and will grow over time in value, but the rush to build now is also driven by new zoning laws that will prohibit further building of high rises and resorts in the near future.

What do you know about that rezoning issue ?

[MichaelJohn]

We bought 2+ Rai in 2008, genuinely thinking we'd live there in a few years time. It has changed so much - the peaceful place has now become "commercialised trash" (the words of someone living there). So, we sold in 2011 making a 73% return.

I think it's overpriced and set for a price "re-allignment" but who knows?

There's plenty of other nice, up and coming places to invest that have not yet peaked.

[cardholder]

So the Tuscany pat of Thailand is being raped by the developers..? It's a lovely area i feel sad to read it is being 'dug up'.

Reminds me of Portugal/Spain in the 1980's/90's.

[diddums]

We bought 2+ Rai in 2008, genuinely thinking we'd live there in a few years time. It has changed so much - the peaceful place has now become "commercialised trash" (the words of someone living there). So, we sold in 2011 making a 73% return.

I think it's overpriced and set for a price "re-allignment" but who knows?

There's plenty of other nice, up and coming places to invest that have not yet peaked.

We bought 2+ Rai in 2008, genuinely thinking we'd live there in a few years time. It has changed so much - the peaceful place has now become "commercialised trash" (the words of someone living there). So, we sold in 2011 making a 73% return.

I think it's overpriced and set for a price "re-allignment" but who knows?

There's plenty of other nice, up and coming places to invest that have not yet peaked.

You must have bought it really high..or sold it really low if you only made 73%.

[Morden]

Anyone thinking of buying in that area or Pak Chong should know about the various title titles. Much of what is on offer is way below chanoet standard and at least one home was demolished.

[BEVUP]

what about thoughts of a 4 km radius in Korat from GPO

[kaxper]

just dont buy anything you can't picture yourself living in when you reach old age. pick a nice area, good facilities, and good neighbors. i mean, khao yai is a nice place and will grow over time in value, but the rush to build now is also driven by new zoning laws that will prohibit further building of high rises and resorts in the near future.

What do you know about that rezoning issue ?

on zoning, only from what i read, plus from a friend who decided to pull out from a land deal after consulting with a lawyer on the rezoning issue. so looks like fairly serious ...

on the issue of commercialization, some of it is fine, i mean, i don't mind have a good place to eat and hang, bring the kids to play, else it will be dead boring. just hope it will be limited to that area around palio. ... else keep heading NE to wang nam khiao !

[Morden]

Resorts have been demolished in Wang Nam Khiao because they were either in the National Park or on land designated for agriculture only. Personally, I wouldn't buy land either there or around Pak Chong.

[diddums]

Resorts have been demolished in Wang Nam Khiao because they were either in the National Park or on land designated for agriculture only. Personally, I wouldn't buy land either there or around Pak Chong.

You can buy it anywhere....just make sure it has good title.......ns3 +

[diddums]

By the way.....its busy now.....but the Greenery has an expansion plan currently under way.

It involves at least triple the condos they are currently building, a full size water park and a mall.

Yes, a frickin mall.

Good thing to see fail was macdonalds along that same road.

[kaxper]

sigh .... progress

[rgs2001uk]

Resorts have been demolished in Wang Nam Khiao because they were either in the National Park or on land designated for agriculture only. Personally, I wouldn't buy land either there or around Pak Chong.

For Wang Nam Khiao, read this thread,

http://www.thaivisa.com/forum/topic/578907-plea-for-an-isaan-village/