Buy Now In Issan?

[Focus]

Might now be a good time to buy a condo or flat in Issan? Udon Thani, Nong Khai, etc? What would USD$15,000 - 20,000 get me? Thanks.

[geoffphuket]

Sorry couldn't resist

[Focus]

Hey, Geoffphuket, thanks for the quick reply.... but ... ehmmm... what's your point?

[johnnyk]

Might now be a good time to buy a condo or flat in Issan? Udon Thani, Nong Khai, etc? What would USD$15,000 - 20,000 get me? Thanks.

I'm assuming you are thinking the political situation has changed prices in Issan.

Nope, your US$15-20K will get you samesame as two weeks ago:

A 1-bed condo but don't expect gym or swimming pool.

The Thais are not freaking out and selling and I suspect those falangs who live up there know the score and aren't freaking out either.

BTW, the point of the pic is don't expect too mutt. 6-800K baht is not a real big deal in a city like Udon or NK, maybe in the moo ban 30 miles away.

[farangconnection]

if you want to buy in Isaan, buy soon. In Surin for example a 500,000 piece of land now fetches around 1,200,000 and going up. A ready built house that cost 900,000, 5 years ago, is now fetching over 2,000,000. In fact the tracts of land around the by-pass and leading into town, are now going for around 2,000,000 a rai.

[think_too_mut]

if you want to buy in Isaan, buy soon. In Surin for example a 500,000 piece of land now fetches around 1,200,000 and going up. A ready built house that cost 900,000, 5 years ago, is now fetching over 2,000,000. In fact the tracts of land around the by-pass and leading into town, are now going for around 2,000,000 a rai.

Could be farang prices and good locations.

In the sticks, a 4 bedroom unfinished (but habitable) house next to us, with 1/4 rai land was 250K baht 2 months ago. I did not buy it as there were dark clouds over my job.

People who bought it are renting it out to the previous owners for 2000B per month. If this thread is still alive in 2 days when I get back to my home computer I'll post the picture.

Another one nearby was 1.2mil (2 levels), then 800K, then 600K until the owners gave up and decided to keep it 6 monts ago.

I have no doubt that, should I decide to live in Isaan countryside, 800K would bring a nice (by Thai standards) house. Even 10-15 years from now.

Edited September 22, 2006 by think_too_mut

[chuck6660]

if you want to buy in Isaan, buy soon. In Surin for example a 500,000 piece of land now fetches around 1,200,000 and going up. A ready built house that cost 900,000, 5 years ago, is now fetching over 2,000,000. In fact the tracts of land around the by-pass and leading into town, are now going for around 2,000,000 a rai.

Could be farang prices and good locations.

In the sticks, a 4 bedroom unfinished (but habitable) house next to us, with 1/4 rai land was 250K baht 2 months ago. I did not buy it as there were dark clouds over my job.

People who bought it are renting it out to the previous owners for 2000B per month. If this thread is still alive in 2 days when I get back to my home computer I'll post the picture.

Another one nearby was 1.2mil (2 levels), then 800K, then 600K until the owners gave up and decided to keep it 6 monts ago.

I have no doubt that, should I decide to live in Isaan countryside, 800K would bring a nice (by Thai standards) house. Even 10-15 years from now.

Where in Isaan??

[think_too_mut]

It's not actually Isaan any more..since 1993.

Middle between Sa Kaew and Chantanabury.

Changing where they belong to has not done much to advance the place.

[Focus]

Think too mutt, thanks for the info; now, those are my kind of prices! You say mid way between Sa Kaeu and Chantanabury; excuse my ignorance, but exactly what province is it in?

cheers,

focus

[astral]

Where in Isaan??

Issan is NE Thailand.

[teej]

Might now be a good time to buy a condo or flat in Issan? Udon Thani, Nong Khai, etc? What would USD$15,000 - 20,000 get me? Thanks.

Do you say "might now" in regard to the current events in Thailand? If so, I'd have to say that it really wouldn't have mattered significantly if you bought 2 weeks ago, the day of the coup, today, or 2 months from now... prices won't change significantly.

Re: buying in Isaan in general, I'd suggest that it all depends on why you are purchasing. Investment? To live in? For investment, I'd consider how you're going to be able to look after/upgrade/improve/take care of your property. I would advise to only buy property in Isaan if you plan to live in it.

[think_too_mut]

mid way between Sa Kaeu and Chantanabury; excuse my ignorance, but exactly what province is it in?

It's Chanantanaburi province now. The place I was talking about is Wang Nam Yen and Wang Sombun but 100 km before and after would be the same kind of prices.

[Unknown]

I would advise to only buy property in Isaan if you plan to live in it.

And if you are a foreigner, you can't buy land in Isaan and since condos are pretty scarce, you will probably buy the house under the name of a Thai citizen.

So sure only do it if you plan to live in it because it won't be much of an investment...

[Focus]

Think too mut... thanks for the information; I'll check it out.

[Focus]

Teej, thanks for the reply. My purpose for buying would be to have a place to call home in Thailand and to live in. Not for investment. Yeah, now I realize that the coup won't make a big difference in the housing market (or yet to be seen).

Unknown, thanks too you too, and by the way, great photo.

[Khutan]

Personally, if you are talking about Issan, I would wait a year or a little longer. I would guess there may not be as much Government money going there, therefore after a year or so, land will be a far better value.

[Unknown]

Personally, if you are talking about Issan, I would wait a year or a little longer. I would guess there may not be as much Government money going there, therefore after a year or so, land will be a far better value.

There has never been any government money going to Isaan, Khutan...

And the 1 million per 'village' had 0 effect on the land price but maybe had some on the value of AIS...

So most land in Isaan will be basically worthless for some time to come.

But well, it does not mean that some cities in Isaan won't prosper and hence the land won't get dearer but I would stick to the big ones: Korat, Udon Thani...

[think_too_mut]

But well, it does not mean that some cities in Isaan won't prosper and hence the land won't get dearer but I would stick to the big ones: Korat, Udon Thani...

Not that it is not a kind of prosperity: Buriram, 5000 marriages to farangs said a TV broadcast this time last year.

[think_too_mut]

In the sticks, a 4 bedroom unfinished (but habitable) house next to us, with 1/4 rai land was 250K baht 2 months ago. I did not buy it as there were dark clouds over my job.

People who bought it are renting it out to the previous owners for 2000B per month. If this thread is still alive in 2 days when I get back to my home computer I'll post the picture.

I found the pic, this the house that was 250K. A bit of land in front and to the right included.

Wang Nam Yen but not in the centre.

Edited September 22, 2006 by think_too_mut

[Unknown]

But well, it does not mean that some cities in Isaan won't prosper and hence the land won't get dearer but I would stick to the big ones: Korat, Udon Thani...

Not that it is not a kind of prosperity: Buriram, 5000 marriages to farangs said a TV broadcast this time last year.

Isaan is sure lucky to have them.

Because without them, there would not be any development there.

The Bkk government just does not care (so far, we'll see the next one...).

Not specific to Isaan by the way, and the events in the South are a good reminder of that...

[Focus]

Thanks for all the good insights into buying a place in Isaan.