Land prices in Issan

[newbepat]

Can anybody tell me what I should pay for land in Issan village in near Muckharn

girlfriend says its a bargin, she says price is 350,000 per rai for 6 rai, land is near

district office with main road frontage. I think its expensive for farm land.

Any comments welcome, but please no smart answers. I have bought and sold

land along the the mecon river and made a profit. I still have 2.5 rai along the river.

I am thinking of 200,000 per rai she says that's very tight of me. land belongs to her cousin.

Go easy on me please, its a business venture for me, I want to make money when I sell

Thanks in advance

Pat

[Bullie]

You' re not a newby - the golden rule is that you are NEVER supposed to make a profit on any of the (even remote) familymembers of your girlfriend. Quite the contrary: they are supposed to make an as large a profit as possible on you, not the other way around.

Seriously: stay away from the family financially, unless you have this strong urge to sponsor them.

[whatawonderfulday]

Well you do not own land in your wildest dreams in Thailand so I assume you mean your girlfriend owns the 2.5 Rai ? With respect to the other land at 350,000 per rai then being a successful buyer/sellor previously then why do you need to ask members on the forum. Surely you would have researched and developed your own business plan.

But let's assuming most of what you have written is at best fantasy and you really have no idea about land values, nor the where with it all to do a bit of local research let me just say if you buy that land in that location for that price you will make someone very happy - problem is it won't be you as it is a grossly inflated price.

Do you actually know what land title it comes with ? Chanote or a basic Nor Sor Nong ? The latter of which of course you will understand is somewhat restrictive

Edited November 27, 2014 by whatawonderfulday

[jonclark]

This is your girlfriend you are talking about - correct. So basically your buy this land in your girlfriends name, with your money Part of the purchase process involves you signing away any legal right to this land. 2 months / 6 months down the road you split with your girlfriend (hopefully not). But if you do - she has the land in her name.

So the choice you have to make is simple. The purchase of the land is a gift for your girlfiend, (like a watch or a ring or a cat but bigger), it is hers and hers alone. Do you love her enough to give her such an expensive gift? Yes or No?

If you were in a strong marriage (and you would know that better than anyone) then go for it, it will be a great investment over the years if used well. If you get divorced the wife gets the land - happens in most EU / US divorce cases anyway so us men shouldn't get hung up on it.

[Noi657]

If your thinking 200,000 baht per rai then it's 200,000 baht per rai!

Being tight or not....

It's your money, I'd just say.. Here's my offer, take it or leave it!

But then again, if I wasn't married and in a very strong relationship then it would be a no go from the very start.

Be careful!

[beachproperty]

Agree with prior post.

Value of land is a subjective thing.....what a willing buyer is willing to pay and what a willing seller willing to sell for. So if your willing to pay 200,000/rai then make the offer as a "take it or leave" and if they don't take it, move on...the more properties you look at, the better you will be at recognizing the value of the ;properties you are looking at and which are bargains

Your girlfriend says its a bargain for two reasons...1) She's not putting up the money, but the property is going to be in her name, so she just really wants you to buy land ...any land .....2) Higher the price the bigger the kick back to her ....especially if you are dealing with her family.

Good Luck!

[newbepat]

Thanks for all your comments so far. Much appreciated.

Whatawonderfulday: Sorry I should have said my girlfriends land your correct.

Asking about land prices in issan on TV is part of my research; (I am told it has a proper chanote,)

Putting my relationship aside I am trying to get the feel regards different prices in different locations,

My girlfriends mother bought 5 rai in the village 2 years ago for 30,000 baht per rai. I would not like the land as you have to cross 2/3 fields to get to it. She thinks it worth more now.

The last time my girlfriend bought land in the village everyone said she paid too much for it. But after 5 years she manages to double her money when she sold.

It seem family land can have a very sentimental value in Thailand.

I am told the land office puts a value on land, but its way less than the villager’s value of the land.

So I am wondering what is the real value of issan farm land?

Pat

[Bullie]

Dear Pat,

WALK AWAY. The real value is what one can sell it for to a Thai/Chinese businessman. And he probably would'nt pay more than 60 cents on the dollar. This is ISAAN, the least desirable part of the country.

Also: your girlfriend TOLD you she doubled her money after years.

Now, here is a premise for you, which will serve you in good stead in Thailand:

ALL THAI LIE, ALL OF THE TIME.

Except when they don' t and that' s negligable. I know, I'm married to one for the last 7 years.

[Matthew Teknojelly]

Wife brought 1.25 rai in Phimai few months ago for 250,000B. With Chanote, filled and levelled and beside road.

[Paul944]

Her cousin probably wants to make money too. The question is will you be able to find someone who wants to pay 400,000 per rai.

[MJCM]

It's all about Location Location Location.

Edited November 27, 2014 by MJCM

[thrilled]

Land is getting more expensive all over Thailand.You might want to shop around.

[newbepat]

Dear Pat,

WALK AWAY. The real value is what one can sell it for to a Thai/Chinese businessman. And he probably would'nt pay more than 60 cents on the dollar. This is ISAAN, the least desirable part of the country.

Also: your girlfriend TOLD you she doubled her money after years.

Now, here is a premise for you, which will serve you in good stead in Thailand:

ALL THAI LIE, ALL OF THE TIME.

Except when they don' t and that' s negligable. I know, I'm married to one for the last 7 years.

Dear Bullie,

When I said my girlfriend said she doubled her money on buying and selling land What I really mean I doubled my money

I bought 6 rai for 2.1 million 5 years ago I/we sold 3 rai for 2.2 million last year.i have the money to prove it

Regards Thai's telling lies if my g/f or wife lied to me I would get rid of her pronto. cant stand lies for what ever reason.

[newbepat]

Her cousin probably wants to make money too. The question is will you be able to find someone who wants to pay 400,000 per rai.

Paul her cousin owns the land along with her ex husband they are divorced now and selling up last bits the own together

[newbepat]

Wife brought 1.25 rai in Phimai few months ago for 250,000B. With Chanote, filled and levelled and beside road.

Matthew that the kind of reply I was hoping for, just to get the feel of what is the going rate

I am been told they won't except no less than 2 million for the 6 rai. it has good road frontage oppisit the district office.

[Matthew Teknojelly]

Our block is about 10 mins outside the town, we purchased it because it was close to Aunt's house as we had planned to purchase additional adjoining farmland behind the block (no road access) and plant teak. But haven't had the time to do anything further. Price for the farmland at the back was 1M for 4 Rai, when we get around to it I was thinking an offer of 600,000B would be more like it. It all depends right, what someone is willing to pay and what someone is willing to accept can be very different.

[djayz]

As a previous poster has already pointed out, it depends (a lot) on location.

From reading your posts I can only assume that you and your gf have been together for a while now, so if she was your partner when you made the last land purchase/sale, then I see no reason to doubt what she's telling you now.

Good luck.

[Paul944]

My wife got an offer to buy, for 1 million baht per rai, a 4 rai plot between Hangdong and Chiang Mai. Maybe we should plan to live in Isaan instead .

[luk AJ]

Dont forget it is farmland, not much to farm in Isaan... My GF purchased land near Buriram for 120k per Rai but she says it can go up to 200k per Rai if close to big road. Prices are steadily increasing I just dont know why because I dont see the value.

[newbepat]

As a previous poster has already pointed out, it depends (a lot) on location.

From reading your posts I can only assume that you and your gf have been together for a while now, so if she was your partner when you made the last land purchase/sale, then I see no reason to doubt what she's telling you now.

Good luck.

Yes, I can say I trust her, we have been together (Long distance) for aprox 7 years now. I think 200,000 per rai is a fair price. I know I am not going to get for that, so I have decided to leave it, and let someone else have a go at it.

But as the saying goes its all about Location, Location, Location. and a lot of luck also

[newbepat]

My wife got an offer to buy, for 1 million baht per rai, a 4 rai plot between Hangdong and Chiang Mai. Maybe we should plan to live in Isaan instead .

Wow, Paul, that sounds like a good offer to me. no way could you get that money from farming the land.

[motlau]

Location location location if land is by a road it can be 1/2/300000 per rai but identical land maybe 5 kms away in the middle of nowhere you would struggle to get 25000 per rai

Your most trustworthy source of advice is a wife/girlfriend who you can trust,however and one that is trying to get you to purchase from a family member doesn't pass that test

[steven100]

To get an accurate price : The local land office - they will look up the value in there documentation for that area

To get an estimated price : Talk to the neighbour / locals

Then compare the two ...

This is the only way you will achieve a fair estimate for the value of your land.....

[gk10002000]

This is your girlfriend you are talking about - correct. So basically your buy this land in your girlfriends name, with your money Part of the purchase process involves you signing away any legal right to this land. 2 months / 6 months down the road you split with your girlfriend (hopefully not). But if you do - she has the land in her name.

So the choice you have to make is simple. The purchase of the land is a gift for your girlfiend, (like a watch or a ring or a cat but bigger), it is hers and hers alone. Do you love her enough to give her such an expensive gift? Yes or No?

If you were in a strong marriage (and you would know that better than anyone) then go for it, it will be a great investment over the years if used well. If you get divorced the wife gets the land - happens in most EU / US divorce cases anyway so us men shouldn't get hung up on it.

run away now. Buying land is completely a one sided deal and you have few to no recourses should bad things happen. Lifelong love aside, in the real world, there are many many true stories of Falangs having all sorts of difficulty and they simply have to abandon the land. Things in the news recently: Falang accused of assault and battery, has to leave the house. Falang accused of being a peodaphile and has to leave, falang found dead in home, wife/girlfriend while maybe a sound and good person is pressured or even threatened by family or crooks to do the bad things that get you out of the area. Sadly, these are all true and real risks.

[slipperylobster]

This is your girlfriend you are talking about - correct. So basically your buy this land in your girlfriends name, with your money Part of the purchase process involves you signing away any legal right to this land. 2 months / 6 months down the road you split with your girlfriend (hopefully not). But if you do - she has the land in her name.

So the choice you have to make is simple. The purchase of the land is a gift for your girlfiend, (like a watch or a ring or a cat but bigger), it is hers and hers alone. Do you love her enough to give her such an expensive gift? Yes or No?

If you were in a strong marriage (and you would know that better than anyone) then go for it, it will be a great investment over the years if used well. If you get divorced the wife gets the land - happens in most EU / US divorce cases anyway so us men shouldn't get hung up on it.

Well said...

Giving a girlfriend a gift of land, and a house..... Would you do that in your own country?

You can get tossed, in a wink of an eye.

Get Married, and wait a few years....

People are in debt up to their ears....property titles are pawned off like crazy. Two or three refinancings, some loan sharks, relatives waiting to pounce....

Go ahead and lease the property if you want....as long as it has a house on it. Pay month to month..

[Rdrokit]

If can afford to lose the money than buy it but pay a decent price for it. When you say farm land what does the deed say or should I say what is the land zoned for. Some "farm land" you can not build a house on and use the land only for farming (you can build a small shack on it for storage). If it is truly only farm land use only the price is definitely too high. If the land can be used to build a house on AND has access to water and electricity it could be worth a few hundred thousand baht/rai. My wife and I bought 5 rai of farm land which a house could be built on which was in the city limits, had road access (dirt road) but no water and electric access 7 years ago for 120,000 baht/rai.

Now the road is about to be paved and the city has put in water and electric access and the 2 rai next to ours just sold for 600,000 baht.

Side note: if it is rice paddies than you will have to add fill to get it to a proper building height so the land would be worth less than a normal rai.

[millwall_fan]

Prices in Mukdahan may be on the rise due to the bridge.

[wanderer2060]

You always can get Problems, in case of thai Family is involved. So, take care.

[ldnguy]

Dont forget it is farmland, not much to farm in Isaan... My GF purchased land near Buriram for 120k per Rai but she says it can go up to 200k per Rai if close to big road. Prices are steadily increasing I just dont know why because I dont see the value.

That doesn't mean there isn't value. Maybe others can see the value. I've heard people saying the same thing in the UK for the last 30 years. They can't see how prices can rise, but they do. People like to own land and property because ti gives them security. It's better than cash, which can become worthless much more quickly.

[ldnguy]

This is your girlfriend you are talking about - correct. So basically your buy this land in your girlfriends name, with your money Part of the purchase process involves you signing away any legal right to this land. 2 months / 6 months down the road you split with your girlfriend (hopefully not). But if you do - she has the land in her name.

So the choice you have to make is simple. The purchase of the land is a gift for your girlfiend, (like a watch or a ring or a cat but bigger), it is hers and hers alone. Do you love her enough to give her such an expensive gift? Yes or No?

If you were in a strong marriage (and you would know that better than anyone) then go for it, it will be a great investment over the years if used well. If you get divorced the wife gets the land - happens in most EU / US divorce cases anyway so us men shouldn't get hung up on it.

run away now. Buying land is completely a one sided deal and you have few to no recourses should bad things happen. Lifelong love aside, in the real world, there are many many true stories of Falangs having all sorts of difficulty and they simply have to abandon the land. Things in the news recently: Falang accused of assault and battery, has to leave the house. Falang accused of being a peodaphile and has to leave, falang found dead in home, wife/girlfriend while maybe a sound and good person is pressured or even threatened by family or crooks to do the bad things that get you out of the area. Sadly, these are all true and real risks.

And in the real world there are many true stories of farangs making money while other farangs stay poor because they are to paralyzed with fear. Any investment can lose money. Even with a well known bank or well known stock. There are no guarantees. Could this guy lose money if he buys in his girlfriend's name? Yes, of course he could. But will he lose money? He didn't on the last deal, so why should he on this one. Risk is part of investing. Risk is part of life. What you have to ask yourself is if the risk is worth the potential reward. I'd happily buy this much land in my gf's name because I trust her. But what if she dumps me and keeps the land? Well, I'd have lost the money. But what if she doesn't dump me and it goes up 10-fold? I make money. That's life.

Some of you on here need to man up and stop being such pussies. If you have a gf or wife you don't trust then just dump here. I have zero sympathy for complainers like this. Many farangs have gfs and wives they can trust and they do deals together. What you suggest is ludicrous. You think no farang should invest any money with someone they trust. That's one of the most ridiculous things I've heard on here. I can guess that you are pretty poor. Let others get on with it if you're too scared.

How can you invest in anything anywhere? Haven't you heard the true stories of things going wrong and people losing money in every kind of investment. You'd better never leave you condo. Haven't you heard the true stories of farangs leaving their condo and being killed. You'd better not eat. Haven't you heard the true story of food killing people. I haven't laughed so much in ages.

Edited January 19, 2015 by ldnguy