Hua Hin land prices... Shaking my head here.

[thelongshoot]

I have been looking to buy some land in Hua Hin recently and I have decided not to bother.  Its mental what people are asking for humble plots of land.  I am looking to buy one or two rai, depending on price and I cant believe the prices out there.  Just down the road from me in Borfai soi 6, tucked right out of the way and so far out of the town center that it is literally 200 yards from the Petchaburi border is one rai of land that I wanted to buy as I figured it cant be crazy money.  I just called, and It turns out they want 4.5 million for one rai.  A ferang and his Thai wife own the land, they probably brought it 10 years ago for 300,000.  Why should I pay 15 times what he paid for it?

 

Opposite my house, right out in the sticks and again at least 15 minutes from town on a quiet traffic day is 1 rai divided into 4 plots.  They want 1.5 million per plot.

 

Its the same all over Hua Hin as far as I can see and far worse when you get close to the center.  I dont know who is paying these sort of prices but can i remind you all that this is a third world country we live in, and the land is supposed to be cheap?  Hua Hin really isnt anything special.  The beaches are crap, the shopping centers are average and the bars are totally and utterly sh1te so why pay this sort of money to live here?  Jesus you can buy roughly the equivalent of 1 rai for $100,000 or 3.2 million Baht within a 20 minute drive of Miami Beach so why pay way more than that to live next to a field full of buffalo, opposite a pack of scabby barking soi dogs and 30 seconds walk from a Thai house full of of waste recycling stacked several feet high in bundles?

 

I just wanted to rant, I guess.  Rant over.

 

Is there anywhere in Hua Hin where the land prices are more acceptable, lets say around 1 million baht per rai?  Or are those days now gone?  1.5 million Baht even.... Anywhere?  There must be?

 

 

[roly]

If Hua Hin is so bad then why do you want to buy land here? Unless it's to buy and then sell on for a massive profit, though that's what you were complaining about other people doing.

Don't forget the prices are probably higher here because of hua hin's status as a royal town which probably pushes up the prices somewhat.

Hua Hin is still expanding as far as I can tell judging by all the new condos and hotels going up, so high prices are just a factor of supply and demand (and greedy people trying to sell what they bought for 15 times the price!)...someone must be paying big bucks or the owners would never get a sale and prices would have to come down.

[JesseFrank]

Just down the road from me in Borfai soi 6, tucked right out of the way and so far out of the town center that it is literally 200 yards from the Petchaburi border is one rai of land that I wanted to buy as I figured it cant be crazy money

 

In reality you wanted to buy that plot because it was in a perfect quiet location that suited you well, and thought that the owner was a dumber who had no idea about the value of his land.

 

You were mistaken as probably many have inquired for the price before you.

[Skint]

There is plenty land selling for under 1 mill a rai just have to get out on your bike and go look

[thelongshoot]

If Hua Hin is so bad then why do you want to buy land here? Unless it's to buy and then sell on for a massive profit, though that's what you were complaining about other people doing.

Don't forget the prices are probably higher here because of hua hin's status as a royal town which probably pushes up the prices somewhat.

Hua Hin is still expanding as far as I can tell judging by all the new condos and hotels going up, so high prices are just a factor of supply and demand (and greedy people trying to sell what they bought for 15 times the price!)...someone must be paying big bucks or the owners would never get a sale and prices would have to come down.

 

You are right - I was ranting previously, Hua hin isnt so bad.  The point I was trying to make, albeit fudged by my rant, was that Hua Hin in my opinion is not as desirable as the land prices suggest.  Is it fair to say this is a third world country?  If so, then why are the land prices similar to desirable locations in the US, Australia, UK?  I genuinely dont get it.  The beaches are not that great - to say they are crap is not fair so I take that back, but they definatley are not very pretty.  I am right about the shopping centers, which are mediocre at best and there are few decent places to nip out and have a beer.  It suits me here for various reasons but that is a different point entirely.

 

My point is the prices are very high for what is a fairly average resort styled town.

[thelongshoot]

 

Just down the road from me in Borfai soi 6, tucked right out of the way and so far out of the town center that it is literally 200 yards from the Petchaburi border is one rai of land that I wanted to buy as I figured it cant be crazy money

 

In reality you wanted to buy that plot because it was in a perfect quiet location that suited you well, and thought that the owner was a dumber who had no idea about the value of his land.

 

You were mistaken as probably many have inquired for the price before you.

 

 

What?  I did not say it was perfect.  I was saying the land is so far from the center of Hua Hin that it is almost classed as Petchaburi.  The land furthest away from the center is usual they cheapest.  So why is this random plot far away from town commanding huge prices.

 

I did not for one second think the owner was a dumber (whatever that is, I guess you mean dumb, or dumb ass).  I just figured that I would call and ask for a price as I assumed it wouldnt be expensive, given that it is so far from town with nothing of interest in the area.

 

What if many have enquired before me?  What difference does it make... he hasnt bloody sold it yet so whats the point?  Value is based not on the amount of inquiries or even how much of a 'dumber' the owner is.  

 

Im not looking for an argument - and my original post was a bit of a rant so excuse me for that - but I genuinely dont understand why people are paying these prices.  Thats all I am saying, as simple as that.

[losworld]

This can be said for much of Thailand with Isaan included.  Absolutely ridiculous prices atop a bubble that will soon burst.  Someone gets it in their head to ask a ridiculous amount then sit on it forever.

[JesseFrank]

 

If Hua Hin is so bad then why do you want to buy land here? Unless it's to buy and then sell on for a massive profit, though that's what you were complaining about other people doing.

Don't forget the prices are probably higher here because of hua hin's status as a royal town which probably pushes up the prices somewhat.

Hua Hin is still expanding as far as I can tell judging by all the new condos and hotels going up, so high prices are just a factor of supply and demand (and greedy people trying to sell what they bought for 15 times the price!)...someone must be paying big bucks or the owners would never get a sale and prices would have to come down.

 

You are right - I was ranting previously, Hua hin isnt so bad.  The point I was trying to make, albeit fudged by my rant, was that Hua Hin in my opinion is not as desirable as the land prices suggest.  Is it fair to say this is a third world country?  If so, then why are the land prices similar to desirable locations in the US, Australia, UK?  I genuinely dont get it.  The beaches are not that great - to say they are crap is not fair so I take that back, but they definatley are not very pretty.  I am right about the shopping centers, which are mediocre at best and there are few decent places to nip out and have a beer.  It suits me here for various reasons but that is a different point entirely.

 

My point is the prices are very high for what is a fairly average resort styled town.

 

 

 It suits me here for various reasons but that is a different point entirely.

 

 

No it isn't, it suits many people here for various reasons, and that is reflected in the price.

 

Another reason is that Thais think different about land sales.

 

When I bought my land about 6 years ago, I paid 1 mil and was only able to because the owner, who had 17 Rai in that location, needed money for one of his children. So the went to the LDP and cut out one piece to my preference.

 

Today I have a buyer for my house and he want to purchase an additional 1 Rai, and he's willing tp pay 2.5 Million for it, but the owner is not interested to sell at any price.

 

They are poor people living in a small house. If they sold only the 16 Rai they have in this location, they would be richer than you and me together, but they are simply not interested as they still have food every day and the land will still be the same size 20 years from now but a multiple of the price.

 

 

 

Edited May 15, 2014 by JesseFrank

[JesseFrank]

This can be said for much of Thailand with Isaan included.  Absolutely ridiculous prices atop a bubble that will soon burst.  Someone gets it in their head to ask a ridiculous amount then sit on it forever.

 

Bubble burst ? Land bubbles never burst. look at your own home country, wherever that may be, and look at the price of land 10 - 15 years ago and today.

 

I don't speak about real estate, however almost the same rules apply, but land never decrease in value because there is every day less available.

Edited May 15, 2014 by JesseFrank

[JesseFrank]

 

 

Just down the road from me in Borfai soi 6, tucked right out of the way and so far out of the town center that it is literally 200 yards from the Petchaburi border is one rai of land that I wanted to buy as I figured it cant be crazy money

 

In reality you wanted to buy that plot because it was in a perfect quiet location that suited you well, and thought that the owner was a dumber who had no idea about the value of his land.

 

You were mistaken as probably many have inquired for the price before you.

 

 

What?  I did not say it was perfect.  I was saying the land is so far from the center of Hua Hin that it is almost classed as Petchaburi.  The land furthest away from the center is usual they cheapest.  So why is this random plot far away from town commanding huge prices.

 

I did not for one second think the owner was a dumber (whatever that is, I guess you mean dumb, or dumb ass).  I just figured that I would call and ask for a price as I assumed it wouldnt be expensive, given that it is so far from town with nothing of interest in the area.

 

What if many have enquired before me?  What difference does it make... he hasnt bloody sold it yet so whats the point?  Value is based not on the amount of inquiries or even how much of a 'dumber' the owner is.  

 

Im not looking for an argument - and my original post was a bit of a rant so excuse me for that - but I genuinely dont understand why people are paying these prices.  Thats all I am saying, as simple as that.

 

 

I think you misunderstood my post. I bought 1 rai of land 6 years ago, in the middle of nowhere, at 1 M because i considered it a nice area and I like the quiet life. At that time nobody wanted to sell there.

Today not much has changed, but there are a few people in the area now that are willing to sell, at 3 M and more a Rai.

 

When a foreigner comes around he laughs and says they are crazy, but the Thais are buying. In the past 3 months 3 new builds have started and another 2 plots have been leveled this month. And that is only 1 soi.
 

[thelongshoot]

 

 

If Hua Hin is so bad then why do you want to buy land here? Unless it's to buy and then sell on for a massive profit, though that's what you were complaining about other people doing.

Don't forget the prices are probably higher here because of hua hin's status as a royal town which probably pushes up the prices somewhat.

Hua Hin is still expanding as far as I can tell judging by all the new condos and hotels going up, so high prices are just a factor of supply and demand (and greedy people trying to sell what they bought for 15 times the price!)...someone must be paying big bucks or the owners would never get a sale and prices would have to come down.

 

You are right - I was ranting previously, Hua hin isnt so bad.  The point I was trying to make, albeit fudged by my rant, was that Hua Hin in my opinion is not as desirable as the land prices suggest.  Is it fair to say this is a third world country?  If so, then why are the land prices similar to desirable locations in the US, Australia, UK?  I genuinely dont get it.  The beaches are not that great - to say they are crap is not fair so I take that back, but they definatley are not very pretty.  I am right about the shopping centers, which are mediocre at best and there are few decent places to nip out and have a beer.  It suits me here for various reasons but that is a different point entirely.

 

My point is the prices are very high for what is a fairly average resort styled town.

 

 

 It suits me here for various reasons but that is a different point entirely.

 

 

No it isn't, it suits many people here for various reasons, and that is reflected in the price.

 

Another reason is that Thais think different about land sales.

 

When I bought my land about 6 years ago, I paid 1 mil and was only able to because the owner, who had 17 Rai in that location, needed money for one of his children. So the went to the LDP and cut out one piece to my preference.

 

Today I have a buyer for my house and he want to purchase an additional 1 Rai, and he's willing tp pay 2.5 Million for it, but the owner is not interested to sell at any price.

 

They are poor people living in a small house. If they sold only the 16 Rai they have in this location, they would be richer than you and me together, but they are simply not interested as they still have food every day and the land will still be the same size 20 years from now but a multiple of the price.

 

 

 

 

 

"No it isn't, it suits many people here for various reasons, and that is reflected in the price."

What I mean is that is a totaly different discussion for another day.  I dont want this to turn into pro's and con's of Hua Hin thread because thats been done many times here already.

 

"they still have food every day and the land will still be the same size 20 years from now but a multiple of the price."

I think thats the way most westerns think also, isnt it?  They are locals who are seeing Hua Hin boom.  They have everything they need right now, so are sitting on there investment as they know its only going to go up in value.  Thats pretty much the way most people think isnt it?

[JesseFrank]

 

 

 

If Hua Hin is so bad then why do you want to buy land here? Unless it's to buy and then sell on for a massive profit, though that's what you were complaining about other people doing.

Don't forget the prices are probably higher here because of hua hin's status as a royal town which probably pushes up the prices somewhat.

Hua Hin is still expanding as far as I can tell judging by all the new condos and hotels going up, so high prices are just a factor of supply and demand (and greedy people trying to sell what they bought for 15 times the price!)...someone must be paying big bucks or the owners would never get a sale and prices would have to come down.

 

You are right - I was ranting previously, Hua hin isnt so bad.  The point I was trying to make, albeit fudged by my rant, was that Hua Hin in my opinion is not as desirable as the land prices suggest.  Is it fair to say this is a third world country?  If so, then why are the land prices similar to desirable locations in the US, Australia, UK?  I genuinely dont get it.  The beaches are not that great - to say they are crap is not fair so I take that back, but they definatley are not very pretty.  I am right about the shopping centers, which are mediocre at best and there are few decent places to nip out and have a beer.  It suits me here for various reasons but that is a different point entirely.

 

My point is the prices are very high for what is a fairly average resort styled town.

 

 

 It suits me here for various reasons but that is a different point entirely.

 

 

No it isn't, it suits many people here for various reasons, and that is reflected in the price.

 

Another reason is that Thais think different about land sales.

 

When I bought my land about 6 years ago, I paid 1 mil and was only able to because the owner, who had 17 Rai in that location, needed money for one of his children. So the went to the LDP and cut out one piece to my preference.

 

Today I have a buyer for my house and he want to purchase an additional 1 Rai, and he's willing tp pay 2.5 Million for it, but the owner is not interested to sell at any price.

 

They are poor people living in a small house. If they sold only the 16 Rai they have in this location, they would be richer than you and me together, but they are simply not interested as they still have food every day and the land will still be the same size 20 years from now but a multiple of the price.

 

 

 

 

 

"No it isn't, it suits many people here for various reasons, and that is reflected in the price."

What I mean is that is a totaly different discussion for another day.  I dont want this to turn into pro's and con's of Hua Hin thread because thats been done many times here already.

 

"they still have food every day and the land will still be the same size 20 years from now but a multiple of the price."

I think thats the way most westerns think also, isnt it?  They are locals who are seeing Hua Hin boom.  They have everything they need right now, so are sitting on there investment as they know its only going to go up in value.  Thats pretty much the way most people think isnt it?

 

 

Maybe I'm different then, but I would not sit in a shackle drinking Loa Khow if I had +30 Million baht worth of land laying around my place
 

[WazzaPhuket]

Try Chumphon Real Estate. Just down the road.But beautiful,quiet,great land value on the beach.

[Showbags]

 

 

 

A ferang and his Thai wife own the land, they probably brought it 10 years ago for 300,000.  Why should I pay 15 times what he paid for it?

 

 

 

Because you were not there 10 years ago.

 

What an ignorant attitude.

[apiwan]

 
 
 
A ferang and his Thai wife own the land, they probably brought it 10 years ago for 300,000.  Why should I pay 15 times what he paid for it?
 
 

 
Because you were not there 10 years ago.
 
What an ignorant attitude.

That's the market price.

Welcome to Thailand. You say it's a third world . country. And yet you've decided to move here. Why ?

Hua hin has always been expensive . Mate of mine she inherited nearly 100 rai from daddy .

Sold a little bit and has own company . Her dad was shrewd in buying it.

Should she sell it at 50 years ago prices ?

I'm looking to buy round here. Ladproaw

If you want a little.shitty house deep of main road 4/5 M.

The shops 4 storeys front of my soi 10M they won't sell.

Best I've found is detached town home 6 in development.

When he started building he decided a yr ago 6 M ok.

Now only 2 left at 8M.

Word on the street. Wait. End of year should see a correction .

How much. ? Who knows

Sent from my SM-N9005 using Thaivisa Connect Thailand mobile app

[fredKroket]

I would t class Thailand as third world, it's an emerging market. Just look at all the luxury cars on the roads which cost over twice as much here than in the 'civilised world'. Supply and demand dictates prices, what do you think the land prices were in Pattaya when it was just a sleepy fishing village? Land has tripled in many places in the last 5 years. It's not rocket science really.

[anthobkk]

Thailand is not a third world country ! And Hua hin is so bad, and you hate buffalo and the beach are crap, why do you want a land there ?

 

Go back to home and buy a land near your Miami beach !

Edited May 16, 2014 by anthobkk

[JimHuaHin]

.someone must be paying big bucks or the owners would never get a sale and prices would have to come down.

 

 

That sounds like good economic/financial logic ... but that does not apply here .... I have heard of farang- and Thai-owned houses and condos here being on the market here for 5+ years ... the owners refusing to lower the prices in order to achieve a sale ...

 

Many of my Thai friends in Bangkok and elsewhere who have visited here complain of the high cost food, recreational facilities and services, etc. in Hua Hin.

 

Yes, land and housing prices are very inflated here ... but rich Thais and farangs continue to buy (and speculate) here (just look at the current building boom!! - I have two just completed condos in sight as I look out my window in Khao Ta Kiab, one more 7 storey eye sore within a stones throw, one more planned but construction yet to commence 50 metres away, and I pass about a dozen new condos (completed this year or currently underconstruction) in Khao Ta Kiab on bus ride from Khao Ta Kiab to Hua Hin city).  And while some middle class Thais and farangs may dream of one day owning here, for many of us owing a property within walking distance of the beach will never be realised in Hua Hin.
 

[fullcave]

 

If Hua Hin is so bad then why do you want to buy land here? Unless it's to buy and then sell on for a massive profit, though that's what you were complaining about other people doing.

Don't forget the prices are probably higher here because of hua hin's status as a royal town which probably pushes up the prices somewhat.

Hua Hin is still expanding as far as I can tell judging by all the new condos and hotels going up, so high prices are just a factor of supply and demand (and greedy people trying to sell what they bought for 15 times the price!)...someone must be paying big bucks or the owners would never get a sale and prices would have to come down.

 

You are right - I was ranting previously, Hua hin isnt so bad.  The point I was trying to make, albeit fudged by my rant, was that Hua Hin in my opinion is not as desirable as the land prices suggest.  Is it fair to say this is a third world country?  If so, then why are the land prices similar to desirable locations in the US, Australia, UK?  I genuinely dont get it.  The beaches are not that great - to say they are crap is not fair so I take that back, but they definatley are not very pretty.  I am right about the shopping centers, which are mediocre at best and there are few decent places to nip out and have a beer.  It suits me here for various reasons but that is a different point entirely.

 

My point is the prices are very high for what is a fairly average resort styled town.

 

Should have bought in 08 just after the financial crisis. 97 was also a good year for buying (not selling). Now’s not a great time to buy, save your money for the next financial meltdown (many are predicting could happen this year). Buy low sell high...  

[stephenterry]

Basic economics. Short supply, high demand, prices go up. As land prices go, at 11,250 per wah (400 wah = 1 rai) it's far cheaper than here in CM where I've been quoted 15,000 per wah.  Forty years ago you could buy 1 rai close to the city for 100 baht!

 

And Hua Hin is a 'desirable' location - if it was me, and I could afford to buy, i'd snap it up as an investment that will recoup itself handsomely in 5 years. 

[Robert24]

Have a look at Pran Buri district. Still plenty of land available for below 1m baht per rai. Obviously beach front will be more expensive.

but if you have time, I suggest to wait until prices for land and property come down again. Prices across Thailand are overinflated and will fall again if the economy continues to be weak or further weakens.

For those who suggest land & property prices only go up, have a look what happened to prices after the Asian crisis 1997 in Thailand or to property prices in the US or Spain in 2008. History tella you otherwise

[simosiam]

 "I dont know who is paying these sort of prices but can i remind you all that this is a third world country we live in, and the land is supposed to be cheap?  Hua Hin really isnt anything special.  The beaches are crap, the shopping centers are average and the bars are totally and utterly <deleted> so why pay this sort of money to live here?  Jesus you can buy roughly the equivalent of 1 rai for $100,000 or 3.2 million Baht within a 20 minute drive of Miami Beach"

 

 

Thank's for remember to us where we are living because sometimes we may forget. the point is that I don't understand why you want to by land here in Thailand if it's illegal for farang to own, let the Thais do it and you buy in your country if is so cheap over there. but don't let to the Thais know the price or they will come to buy also in Miami... they can do it! We can't!!

[JesseFrank]

Have a look at Pran Buri district. Still plenty of land available for below 1m baht per rai. Obviously beach front will be more expensive.

but if you have time, I suggest to wait until prices for land and property come down again. Prices across Thailand are overinflated and will fall again if the economy continues to be weak or further weakens.

For those who suggest land & property prices only go up, have a look what happened to prices after the Asian crisis 1997 in Thailand or to property prices in the US or Spain in 2008. History tella you otherwise

 

Did you know that in Spain the prices have recovered to pre 2008 prices.

 

You can today buy anywhere in Thailand at pre 1997 prices ?

[BudRight]

This can be said for much of Thailand with Isaan included.  Absolutely ridiculous prices atop a bubble that will soon burst.  Someone gets it in their head to ask a ridiculous amount then sit on it forever.

 
Bubble burst ? Land bubbles never burst. look at your own home country, wherever that may be, and look at the price of land 10 - 15 years ago and today.
 
I don't speak about real estate, however almost the same rules apply, but land never decrease in value because there is every day less available.

If I do as you say, I find prices in my home country were six hundred percent what are now. Some places are selling for what they were in 1997.

[PattayaPhom]

4 Mil is the going rate and it will sell at at that, if you don believe me, just go to the land office anyday of the week and see how busy it is. 1 Mil should get you something the other side of the bypass, not ideal as a long way out but definately in your price range. You need to stop comparing Thailand with Western countries, the infastructure here and services are on a par with the places you mentioned.

[utkb]

One thing that makes land so cheap in Thailand vs the US is the fact that you hardly pay anything in property taxes in Thailand whereas some states in the US can have extremely high property taxes after the initial purchase.   So when you compare land prices in Hua Hin to Florida or some other place, shouldn't you factor in the taxes you'd pay for say then next 10 years and come up with a comparison based on the NPV?

 

I think if you do that the difference would be much higher.

 

 

[YeaBiGgiEs]

Seems to me people did their homework and market analysis and are now cashing in on people like you..Day late, dollar short perhaps?

[sturdyd]

My experience is that any area that becomes popular with farangs (or gringos, or whatever the local term is for foreigners) becomes ridiculously overvalued just because there are uninformed but relatively well-to-do farangs (or gringos, or whatever the local term is for foreigners) willing to pay the price and -- based on values in their home country -- thinking they got  bargain.

[JesseFrank]

My experience is that any area that becomes popular with farangs (or gringos, or whatever the local term is for foreigners) becomes ridiculously overvalued just because there are uninformed but relatively well-to-do farangs (or gringos, or whatever the local term is for foreigners) willing to pay the price and -- based on values in their home country -- thinking they got  bargain.

 

Ever looked at the land prices in areas where foreigners are far and beyond, Like Ubon city or Khonkaen ? You're in for a surprise.

[ChiangraiTony]

If Hua Hin is so bad then why do you want to buy land here? Unless it's to buy and then sell on for a massive profit, though that's what you were complaining about other people doing.

Don't forget the prices are probably higher here because of hua hin's status as a royal town which probably pushes up the prices somewhat.

Hua Hin is still expanding as far as I can tell judging by all the new condos and hotels going up, so high prices are just a factor of supply and demand (and greedy people trying to sell what they bought for 15 times the price!)...someone must be paying big bucks or the owners would never get a sale and prices would have to come down.

 
You are right - I was ranting previously, Hua hin isnt so bad.  The point I was trying to make, albeit fudged by my rant, was that Hua Hin in my opinion is not as desirable as the land prices suggest.  Is it fair to say this is a third world country?  If so, then why are the land prices similar to desirable locations in the US, Australia, UK?  I genuinely dont get it.  The beaches are not that great - to say they are crap is not fair so I take that back, but they definatley are not very pretty.  I am right about the shopping centers, which are mediocre at best and there are few decent places to nip out and have a beer.  It suits me here for various reasons but that is a different point entirely.
 
My point is the prices are very high for what is a fairly average resort styled town.

Thailand was a third-world country years ago but not any longer. There are many categories in-order to determine third-world country status. I suggest doing some research so you are up-to-date on the current facts.

Like most places in the world, people try to sell their land at the best price possible and if someone is willing to pay it then that's it. If not then move on and don't complain because most with land will do the same here in Thailand especially in a location that is desirable.

When you start to compare with land in the USA then you are comparing Apples to Oranges. This is SE Asia and nothing here should be compared with another country because if you do you'll be setting yourself up for disappointment.

Go visit the banks and see what land is in default. Maybe you can get a better price.