Over price property

[NamKAheng]

I was looking at real estate on Phuket and many of them are well over price. I mean 1 million dollars for 17 rai of land without acess to water, electricity and road.

On top of that you can't own the land and you have to jump how many hoops before you can even start building.

Some of the house I seen don't even have all the legal papers and still ask 2 or 3 millions dollars.

[Langsuan Man]

And your point is ?

[Showbags]

He wishes he had more money...

[falkan]

a couple of months i ago sold 2 rai for 12 million, and invested in some new land in phang nga, prices are not going down cheap charlie sorry!

[Gonsalviz]

Thais will sit on that price until it sells.

[happynthailand]

welcome to Thailand

[fatdrunkandstupid]

Land is an asset. The textbook method of valuing an asset is to look how much yield it provides.

Unfortunately, in Phuket there is a complete disconnect between price and yield.

This is because the bulk of buyers of land in Phuket are not investors that are concerned with yield, they are money launders.

[johnnyk]

The price is exactly what someone is prepared to pay. P.T. Barnum's spirit lives on.

[CNXBKKMAN]

An odd shaped 70 wah plot of land tucked away down a very narrow soi within the old city moat area just sold for about 4.5 million baht. USD 140,000? Probably only good for buliding a house due to the difficult location. 17 rai in Phuket for USD 1,000,000 now seems like a more reasonable deal. There must be lots of possibilities with 17 rai in Phuket.

[CNXBKKMAN]

Btw 70 wah land is in chiang mai city , apologies for missing that bit out.

[givenall]

welcome to Thailand

you're lucky it's like this so you don't buy or waste your money

[bunnydrops]

[The price is exactly what someone is prepared to pay. P.T. Barnum's spirit lives on.]

Like he said. I bought a rai (rural) for 60,000 baht about 6 months ago from a neighbor. Just last week at a wedding she mentioned she wanted to sell the leftover rai. A man from Bangkok jumped on it 300,000 baht