How Much Do Farang Spend On A Baan บ้าน?

[Tippaporn]

One of these days I'll be purchasing property and building a home sweet home in LOS. So I'm curious as to what other farang who have built/bought spent for their creature comforts. Granted there are important variables - location, property and home size, plosh vs. basic, etc. When the time comes for me then ideally I'd want a condo in Bangkok and a house near Loei. I'm not thinking of a mansion in the sky as those have never appealed to me. Four to five bedrooms and some room for a pool table. I'd prefer a larger plot of land to a larger house any day.

Edited May 21, 2006 by Tippaporn

[meom]

2.5 mil excluding the land which she owned already.

It's down south and a bit too quiet for me so probably look for a condo in BKK when I retire. Don't know yet if it's better to rent or buy. At the moment I would say rent.

[jdinasia]

Personal opinion ...

and just that .... an opinion.

Most of the places that Farang are buying are rapidly becoming unlivable ... Pattaya with the crime,traffic,infrstructure issues <hel_l you can't even get city water often!> BKK with the traffic/pollution/out of control land prices etc! Chiang Mai's air quality and traffic etc.

There are great places to be here in Thailand and some of them are just getting better ... just not around those places ...

This year I am looking both South and North for some places... outside of Krabi and outside of Chiang Rai ...

[Sing_Sling]

Personal opinion ...

and just that .... an opinion.

Most of the places that Farang are buying are rapidly becoming unlivable ... Pattaya with the crime,traffic,infrstructure issues <hel_l you can't even get city water often!> BKK with the traffic/pollution/out of control land prices etc! Chiang Mai's air quality and traffic etc.

There are great places to be here in Thailand and some of them are just getting better ... just not around those places ...

This year I am looking both South and North for some places... outside of Krabi and outside of Chiang Rai ...

Pssssssssst - please don't mention Krabi too often or we'll have loads of foreigners trapsing around our place, setting up pubs with lovely english breakfasts, go-go bars and the rest of it. (Well, it's only a week-end house and we use it only once a month, but it's happily 'serene')

Edited May 22, 2006 by Sing_Sling

[ilyushin]

House in Bangkok was Baht 3 million 7 years ago.. Other places I bought befoore were cheaper at Baht 1-2million.

[Tippaporn]

House in Bangkok was Baht 3 million 7 years ago.. Other places I bought befoore were cheaper at Baht 1-2million.

Do you think there have been any dramatic increases in real estate prices over the last 7 years? Just curious. Hopefully not. Real estate prices are going out of this world in the States.

[jdinasia]

Prices in BKK are going WAY up ... and they are going up elsewhere too

[Tippaporn]

Hopefully land and housing prices won't get too outrageous. I have seen developments not far from Secon Square in Bangkok with prices ranging from 12M up to 30M. These houses were on properties that were slightly bigger than the houses themselves.

I was shocked to see houses in that area in the 30M, or approx. USD750,000, price range. You can still buy a dam.n fine house in the States for that kind of dosh and these houses didn't look worth as much as the U.S. equivalents. Kind of confused me. Unless the land value in that locale is extremely pricy.

[jdinasia]

over 40M+ on the soi I lived on .... and behind Seri Ctr over 80+M

Land speculators are already at work out there ... the proposed lightrail stops around there will make it crazy soon I fear. When I lived out there (2 years total) it jumped alot ... the traffic on Sri Nakarin is getting worse ... it's proximity to the new airport and all the rest is just gonna make it BOOM

Edited May 22, 2006 by jdinasia

[Tippaporn]

80M???? That's ridiculous. It's not an area that appeals to me anyway, though I do frequent it. So I would assume that the 30M houses I was looking at were largely due to the land prices?

"... the traffic on Sri Nakarin is getting worse ..." Sri Nakarin is about as congested as it gets. Been down that stretch from Sukhumvit in Samut Prakarn all the way up to Rama IX during rush hour too many times. But yes, I believe it can get worse.

Edited May 22, 2006 by Tippaporn

[ilyushin]

House in Bangkok was Baht 3 million 7 years ago.. Other places I bought befoore were cheaper at Baht 1-2million.

Do you think there have been any dramatic increases in real estate prices over the last 7 years? Just curious. Hopefully not. Real estate prices are going out of this world in the States.

The land and house prices have increased 200-400% in 7 years depending on the type of house and amount of land in my area. They just opened Grand Canal ( Don Muang) and the property prices are crazy.

[Rinrada]

...and yet you can still buy a condo in/near Bangkok with shared pool for Bt.500k....but not for long.

Up north (C.M) I know of one small development where land is still reasonable @ bt 50-100k/rai and a nice wee new bungalow can be built had on it for Bt 350,000...but frills/pool/bbq are extra ....and not in a MOO Bann....bloody cow sheds ...also views of the mountains... not a back yard.....

On the other hand I also know of a developement which is not a million miles from my place ....includes a 1000 rai golf course for only.....1,200,000,000 bt.....and got luvely views

[GuestHouse]

We bought land in an area where there are extremely few other farangs, we bought through the bank's distressed sales (debt release schemes).

The next time I went into the bank ( a week or so later) all the property had gone up 50%, when I asked if prices where going up the guy in the bank told me that foreign money was moving into the area... I haven't come across any other foreigners buying in lately and the land prices have stabalized.

I think it has to be said though, there exists a Farang Effect and it is significant.

[GuestHouse]

We bought land in an area where there are extremely few other farangs, we bought through the bank's distressed sales (debt release schemes).

The next time I went into the bank ( a week or so later) all the property had gone up 50%, when I asked if prices where going up the guy in the bank told me that foreign money was moving into the area... I haven't come across any other foreigners buying in lately and the land prices have stabalized.

I think it has to be said though, there exists a Farang Effect and it is significant.

[Sir Burr]

Bought a small 28 sq.mtr condo in Patong, Phuket for 265,000 Bt in 1990. Sold it in 1992 for 450,000 Bt.

Bought a single storey 100 sq.mtr. town-house in Kata, Phuket for 550,000 Bt in 1992. Sold it in 1998 for 890,000 Bt.

Bought 1.6 rai of land in Chalong, Phuket for 1.5 million per rai in 1999 and then built my house on it. Went over budget and and the whole package came to about 8.5 million Bt.

Now valued at somewhere between 15 to 18 million Bt.

Land prices going crazy in Phuket due to the numerous developers (Thai and farang).

The land in my small soi is now going for 4.5 million Bt per rai. 300% in six years.

[tigerbeer]

land prices in chiang mai are escalating as hel_l too!. 20% increase in land price since we signed our contract and 6 months later. gonna rent it out!. just wondering what kind of prices are we seeing in ko samui? average per rai undeveloped out of town areas.

[binnsy]

...and yet you can still buy a condo in/near Bangkok with shared pool for Bt.500k....but not for long.

Up north (C.M) I know of one small development where land is still reasonable @ bt 50-100k/rai and a nice wee new bungalow can be built had on it for Bt 350,000...but frills/pool/bbq are extra ....and not in a MOO Bann....bloody cow sheds ...also views of the mountains... not a back yard.....

On the other hand I also know of a developement which is not a million miles from my place ....includes a 1000 rai golf course for only.....1,200,000,000 bt.....and got luvely views

If still available mail me the contact if you dont mind as i want a place up in Chiangmai.

regards

[tornado40]

land prices in chiang mai are escalating as hel_l too!. 20% increase in land price since we signed our contract and 6 months later. gonna rent it out!. just wondering what kind of prices are we seeing in ko samui? average per rai undeveloped out of town areas.

Bought the house in 2003 in Bophut for 1.75m in 2003 - now looking at nearly 4m if was to sell. I wonder if this increase will continue?

[Gary A]

Since there are just two of us we really don't need a lot of room. I was lucky because my wife already had a western style two bedroom house on two rai of land. Two rai is plenty of room for a garden, a swimming pool and a workshop/garage. I jokingly asked her if she would like to have a new bigger house and she surprised me by saying it would just make more work for her. PHEW!

To answer your question; If you already had the land you can still have a quite nice house built up here for about two million baht. A Thai friend of mine just built a small house, two bedroom for 400,000 baht. It is a little smaller than ours. The cost of land runs from reasonable to pretty crazy. Since there are VERY few farangs up here no one can blame us for rising land prices. If you budget three million baht total you would be considered as being a rich farang.

One of these days I'll be purchasing property and building a home sweet home in LOS. So I'm curious as to what other farang who have built/bought spent for their creature comforts. Granted there are important variables - location, property and home size, plosh vs. basic, etc. When the time comes for me then ideally I'd want a condo in Bangkok and a house near Loei. I'm not thinking of a mansion in the sky as those have never appealed to me. Four to five bedrooms and some room for a pool table. I'd prefer a larger plot of land to a larger house any day.

[Rinrada]

...and yet you can still buy a condo in/near Bangkok with shared pool for Bt.500k....but not for long.

Up north (C.M) I know of one small development where land is still reasonable @ bt 50-100k/rai and a nice wee new bungalow can be built had on it for Bt 350,000...but frills/pool/bbq are extra ....and not in a MOO Bann....bloody cow sheds ...also views of the mountains... not a back yard.....

On the other hand I also know of a developement which is not a million miles from my place ....includes a 1000 rai golf course for only.....1,200,000,000 bt.....and got luvely views

If still available mail me the contact if you dont mind as i want a place up in Chiangmai.

regards

Binnsy...Sorry I missed your posting.

Also I am back in the UK but will visit again in Sept/Oct and can give you an update around then if you are still interested.

Can I assume that you are not interested in the golf club..etc... ...cheers

[Spaniel]

Our new 3 bedroom house on 78 tw in Kannayao, Bangkok cost 4.5 million in 2002. Located in a gated community with a pool and a couple of small park areas.

[sbk]

One of these days I'll be purchasing property and building a home sweet home in LOS. So I'm curious as to what other farang who have built/bought spent for their creature comforts. Granted there are important variables - location, property and home size, plosh vs. basic, etc. When the time comes for me then ideally I'd want a condo in Bangkok and a house near Loei. I'm not thinking of a mansion in the sky as those have never appealed to me. Four to five bedrooms and some room for a pool table. I'd prefer a larger plot of land to a larger house any day.

We built our house 17 years ago for 125,000 baht. The beach front land belongs to the family so that was free.

Guess that doesn't help you much tho, does it?

sorry, couldn't resist!

[soic]

I have my little place in Buri-Ram province... So far we've got a little over 1.5 mill bht in it. My carport will be finished in a few days, that's about another 50,000 to 60,000, it will look like the house. The 1.5 is land, house, contractor, teak wood, gates, walls, furniture... the whole works. We've done it a piece at a time... It's small, but we love it.

[sbk]

Very nice! Is it on stilts?

[geoffphuket]

House in Bangkok was Baht 3 million 7 years ago.. Other places I bought befoore were cheaper at Baht 1-2million.

Do you think there have been any dramatic increases in real estate prices over the last 7 years? Just curious. Hopefully not. Real estate prices are going out of this world in the States.

The average house price on Phuket has doubled in the last 2 years, and there's no hint of a slow down yet. Of course the bubble will burst when supply exceeds demand... and with the number of new housing projects being started, that can't be too far away.

[Heng]

The price of real estate will go down (I'm not talking these little upswings and downswings people call bubbles and crashes) when they start making more land or people start dying faster than they are being born.

[Charma]

The price of real estate will go down (I'm not talking these little upswings and downswings people call bubbles and crashes) when they start making more land or people start dying faster than they are being born.

Simply put, but very true.

[thaigene2]

The price of real estate will go down (I'm not talking these little upswings and downswings people call bubbles and crashes) when they start making more land or people start dying faster than they are being born.

Simply put, but very true.

That's what we like about you Heng..the glass is always half full!

Actually, the price of land will stop rising when the few people who could afford it no longer can afford it because they don't have a job and they've spent all their savings buying flatscreen TV's, MMS mobile phones and Gameboys..But when that happens the 2nd hand market in Sony products will boom! Of course by then there wil be no buyers for that stuff either..

As for the foreigners who were buying holiday homes..well in a recession the holiday pad is the first place to go on the block!

When will this happen? I don't know..but it will happen. Meantime, I'll just keep sipping away at the glass to keep it at the halfway mark..

[sbk]

OK, cheers for the real estate discussion but I think this thread was about how much people paid for their houses, not the future of the real estate market.

So, soic, I never did get an answer, is your house on stilts?

[Heng]

The price of real estate will go down (I'm not talking these little upswings and downswings people call bubbles and crashes) when they start making more land or people start dying faster than they are being born.

Simply put, but very true.

That's what we like about you Heng..the glass is always half full!

Actually, the price of land will stop rising when the few people who could afford it no longer can afford it because they don't have a job and they've spent all their savings buying flatscreen TV's, MMS mobile phones and Gameboys..But when that happens the 2nd hand market in Sony products will boom! Of course by then there wil be no buyers for that stuff either..

As for the foreigners who were buying holiday homes..well in a recession the holiday pad is the first place to go on the block!

When will this happen? I don't know..but it will happen. Meantime, I'll just keep sipping away at the glass to keep it at the halfway mark..

No worries Gene, as for your theory though... I think a fellow classmate tried to suggest a similar one for his economics masters thesis back in school. I think he's still 'back in school' trying to graduate.

Okay SBK, sorry for the off-topicness. In our neighborhood, the average falang home owner (although we have a fairly even mix of nationalities, locals included) is spending between 3-5 million. Around 40 falang-Thai couples, no single folks, mostly an older falang demographic, younger local gal demographic (about 30 households), some of the local guy foreign gal demographic (just a handful... maybe only 2-3 households), a few same sex couples, not too many have pets.