Why is land so expensive in Thailand? Is it?!

[laolover88]

The price of land, like anything, has, I suppose, to do with supply and demand. I understand why land in Bangkok or Phuket is at a premium and why land in the A. Muang of most Jangwat capitals is pricey. I don't understand why One Rai of rice field in the middle of nowhere in Issan is now 500,000 Baht ie $14,000 or GBP 10,000. I guess in the UK 1 Rai of farmland which is about 2.5 acres is c 12000GBP. And UK land is, apparently, the most expensive in the world Of course building land in the UK is more expensive and in Thailand you can do what you want without planning permission needed.Even wine growing land in California is cheaper.

Can someone enlighten me?

[tartempion]

Rice fields In the middle of nowhere in Isaan I would drop a zero from that 500,000/rai.

Building land asking price around the village here 40kms East of Udon has been 1 million/rai.

We have 1 rai 3 nang + something, perfect square bordering the village, bordered by two concrete roads and away from main road. Some people asked for how much we would sell, answer was 1.5 million, still less than a million/rai. Were asked to go down, we don't need to sell, thus no.

[inzman]

Land prices in the village are more like 50 k a rai. I just bought a rai with house and well on paved road with chanote for 250. People ask stupid prices but rarely get them. Be patient, its usually word of mouth when someone needs money.

[piersbeckett]

One Rai equals 0.40 of an acre - 2.5 Rai equals 1 acre - I think and Mark Twain said, "Buy land, they're not making it anymore".

[Gary A]

Since the flood, the price of farm land in Loei province has skyrocketed. Small farms on dirt roads with no electricity available go for 100,000 baht or more per rai. The opinion is that Bangkok people want the local land around here because we are a thousand feet above sea level on flat land, thus no flooding problems. Ten years ago, I bought my wife a ten rai farm for 18,000 baht per rai.

[patyh]

Could it be the owner trying to sell to at least clear their debts?

[impulse]

Even wine growing land in California is cheaper.

In California, you never really own the land. You own the right to use the land for specific permitted purposes, as long as you pay rent in the form of property taxes.

If you disagree, try to put up an unapproved building, or quit paying your "rent". Or if they want to build a highway across your land. You'll soon see who really owns "your" land. (Strangely, not only do you pay rent on the land, your rent goes up after you spend your money to add structures and improve the land- effectively paying rent on stuff you already bought and paid for)

Not to say that it's a bad system, because it forces real estate decisions based on the highest and best use of the land as a precious and finite quasi-public resource, and not as a commodity to be held idle ad-infinitum, which seems to happen here.

I'd be curious to see how the prices would change if the owners were paying a point or two in taxes every year just to hold on to their idle land. I suspect some would be more motivated to sell.

[shirtless]

One Rai is only .4 of an acre, so its really expensive.

[GuestHouse]

I can't think of anything more expensive than something you pay for, cannot own and get to pay the up keep bills too.

[impulse]

I can't think of anything more expensive than something you pay for, cannot own and get to pay the up keep bills too.

We talking real estate or women?

[FireMedic]

Funny! When I asked one time it was a million per rai.....when gf's grandmom asked....70,000. As usual they are looking for a stupid high margin on their minimal investment. It's better to let the word out you wan to buy land....let them come to you with offers

[mihalis]

expensive well its relevant to where land is..

My mate bought some land in isan, he's wife, first it was a decent price then they saw him, it skyrocketed, wife told owner of land to go jump, and left.. Owne was i need of money, well 4 months later, my mates wife bought land, cheaper than it was first agreed upon..

[godden]

They can keep it

[tomwct]

Rich Thai's buy it up because no taxes. Also it's a good way to hide corruption money! Also, foreigners can't buy land.

You now have high priced land.

[Robert24]

1 rai of rice field not on a main road is about 100k +/- depending on whether you have access to water all year round etc. I don't know where you have the 500k from.

[maxtingtong]

Prices are going up indeed. Just few years ago you could easily buy (thai people, never show your farang face) a rai in the sticks for about 30k. Nowaday it's more likely around 50/100k.

500k is farang price, or in prime location

[Bigstef]

Last year my wife could have 4 Rai for 150k in Buriram province near Cambodia...But no water and electricity...... she didn't buy.

[bitcoinforever]

it is all about location ,basically any land in Thailand is a China spec play they are only 400 km away from chiang mai thailand has,clean air, unpolluted rivers when compared to China and 1.5 billion people within 6 hours flying time. UK has 500 million with in 6 hours flying time 70% of the worlds population in with in 6 to 7 hours flying time to Thailand, it is a wonder that prices were ever as low as they were. so hold on to your head because if an extra 5 million Chinese show up here land prices will explode without the rest of ASEAN population. so investing in thailand land is an indirect way to get long Chinese Land.

The average price of land for residential homes in 105 major cities rose 3.4 percent to 5,421 yuan ($854.58) per square metre in the July-September period compared with a year earlier, the China Land Surveying and Planning Institute, a research unit under the ministry, said in a report.Oct 15, 2015

let us say Thailand goes up to half that 427 per square meter 1 rai is 1600 square meter or $ 683200 a rai with clean air, no pollution, little to no crime 400 km away and direct flighst back home that is where it is going you be the JUDGE

[mike324]

Or you can buy land in Nakornpathom, by full paved roads with water & electricity. Going price is around 350,000 baht / rai, but the catch is that usually they sell in large plots of 20 rai and up. Larger the plot, the cheaper it is. Pretty sure there are ones under 300,000 baht/rai that is a bit further away, just got to search and ask. Its only 1.5 hrs away from downtown bangkok, 35 minutes away from Central Salaya....and in the future (2-3 years time) 40 min away from Salaya MRT Station, or BTS don't remember which its operated by.

I'm sure there are lot of similar priced lands in provinces surrounding bangkok.

[uthaithanirules]

1 rai in isaan 500k?

OP needs to do his homework/legwork

[connda]

If you have a large amount of idle money harvested from the 99% and need it reinvested tax free, simply have a Panamanian outfit set up a Thai shell company and then purchase Thai land and other assets until your heart's contents. Now, you must be one of the 99%...so bad too sad little person.

[Inyourendo]

Condos....on sukhumvit, more expensive than Melbourne now.

We have rice land for sale, 5 mil per rai. ....

[SOUTHERNSTAR]

There is a difference between the asking price and the selling price. People may ask B 1 mil for a rai in a specific area but land that is sold in that same area maybe going for B 500 k.

[laolover88]

Here 500K is Thai price. True Bangkok people are buying land as an investment against all kinds of possible future problems

[laolover88]

500K is Thai price, True Bangkok people are buying land as an investment against future "insecurities"

[Inyourendo]

Here 500K is Thai price. True Bangkok people are buying land as an investment against all kinds of possible future problems

How do they escape being Thai ?

[swissbie]

Or you can buy land in Nakornpathom, by full paved roads with water & electricity. Going price is around 350,000 baht / rai, but the catch is that usually they sell in large plots of 20 rai and up. Larger the plot, the cheaper it is. Pretty sure there are ones under 300,000 baht/rai that is a bit further away, just got to search and ask. Its only 1.5 hrs away from downtown bangkok, 35 minutes away from Central Salaya....and in the future (2-3 years time) 40 min away from Salaya MRT Station, or BTS don't remember which its operated by.

I'm sure there are lot of similar priced lands in provinces surrounding bangkok.

It's SRT, and it will take much more than 2 - 3 years, greetings from Salaya..

[taninthai]

just today i heard someone quote a piece of land at 60 million a rai....idiots......yes you can quote any price for a piece of land but it doesn't mean its worth that.this land was in southern thailand.

[tomyumchai]

we just buy land, bung some dirt on it, get a banner printed showing a house for sale but not even planned and chinese thai come along and pay 3 times more for it.

[JLCrab]

500K is Thai price, True Bangkok people are buying land as an investment against future "insecurities"

Those Bangkok folks sure love living in the hinterlands: