Price of a rai 2016

[paddyfield7]

On 19.12.2016 at 5:34 PM, alfieconn said:

 

What has that got to do with Isaan ?

Nothing, but many comments were also about other locations. I thought my experience could contribute in a country-wide comparison, but I can also stop commenting if anyone feels disturbed.

[chrisandsu]

36 minutes ago, vsigrist said:

Nothing, but many comments were also about other locations. I thought my experience could contribute in a country-wide comparison, but I can also stop commenting if anyone feels disturbed.

It has nothing to do with him who posts here . The reason why I first posted on this is because it was not in the essarn section to begin with . It was moved from the real estate section . 

[chrisandsu]

1 hour ago, taichiplanet said:

About 400k/rai about 10kms out of the city, black road and electricity and town water (near village) for rice land. Land in the village 800k/rai. Land a bit further down a small concrete road about 160k/rai if they are desperate to sell. I think it is way too expensive for rice land if you look at return of investment (less than 1%) especially at current price of rice.

 

The gf has been looking for a while around Surin, and still the same land is for sale for the last couple of years. She drives around and when she sees an area she likes she will stop at a little shop or restaurant and ask about land for sale. I went with the gf when she was looking  in October. I stayed hidden of course! Some nice land (particularly as it was about 50 kms away from the family!), but i found most of the blocks too narrow if you want to build a house, as i want a bit of buffer space in case someone builds next door. Which means buying 2 plots, which the gf hasn't quite got the money for, so we are still looking.
 

I know it is difficult/impossible to compare 2 countries but will throw this in just for interest. I am just back from my home town in the Riverina Australia which grows rice, citrus and grapes. My cousin has been offered rice land at A$2000/acre (about THB 20k/rai) and thinks that is expensive! They are bigger plots and i guess the cheaper land is offset by higher operating costs (wages and machinery).

Actually it's not impossible to compare the two . Thai land is unbelievably expensive, i am

in pak Chong at the moment where the land is 3 million baht per rai !! That's nearly $100k for a little more then an acre of nothing farm

land !! Honestly I can buy farm land just about anywhere in the world for less . 

[alfieconn]

1 hour ago, vsigrist said:

Nothing, but many comments were also about other locations. I thought my experience could contribute in a country-wide comparison, but I can also stop commenting if anyone feels disturbed.

 

typo

 

Edited December 21, 2016 by alfieconn

[Postmaster]

Purchased 10 Rai of Agricultural Land in Nang Rong Amphur with Chanote off main road but track access 1.5 million thai baht.

[chrisandsu]

On 12/21/2016 at 11:34 AM, chrisandsu said:

Actually it's not impossible to compare the two . Thai land is unbelievably expensive, i am

in pak Chong at the moment where the land is 3 million baht per rai !! That's nearly $100k for a little more then an acre of nothing farm

land !! Honestly I can buy farm land just about anywhere in the world for less . 

Obviously my maths was wrong there .... it's close to $300 k per acre of farmland ! 

[Gary A]

It appears that my wife is quite well off. In the past twelve yours she has accumulated about 65 rai. The last small farm she bought, she paid 100,000 baht per rai. She has had some pretty high offers but no way will she part with any of her land. I have warned her that the land prices are a bubble and the bubble could bust anytime. Her answer is that she doesn't care where the price goes because she is not selling any of it. Any profit from the farming goes to buy more land.

[PaddyThai]

Selling 27 rai of farmland (Full Chanote)  including very large and deep fish pond (spent 250,000 to deepen and expand pond and build up edges to save fish from loss during flooding, Large quantity of mangoe banana, Tamarine and other hardwood trees, Basic house on stilts with well water and electricity, Canal adjacent land for irrigation, dirt road access from main road, which is 20 km from Chumphae. 

Sister in-law is telling me many locals interested and should get in region of 500k a rai.

Edited December 31, 2016 by PaddyThai

[Happy Grumpy]

This thread is so last year. 

[cvs04]

It is almost impossible to value land in Thailand for the simple reason hat no one tells the truth.  In the land office they say the price is cheaper than the actual price to reduce taxes paid at point of sale (so Government figures are useless).

Outside of the land office both buyer and seller tell everyone the price is more than the real figure to make them appear more wealthy and increase their status within the local community.

On top of that you get the wealthy Chinese land owners who have all the best plots in town and don't care about selling although everything is for sale if you don't mind paying the same price for a rice paddy in the middle of nowhere as a plot on Sukhumvit road next to Nana BTS.  The gossip from the old ladies in the local Somtam shop also play a big part as they often are seen as village elders who know everything (Khun Yai) about anything but they are likely to pay a compliment by telling any owner their land is worth 4 times its actual value.

The only way to ascertain a true value is through experience and knowing the real sales prices of local land and not listen to the gossip (the somtam price as I like to call it). It's not like the West where you can do a quick search on the internet and find out what next door sold for 6 months ago.

Example: we have a piece of land near the airport in Ubon for 4.4m and the price is negotiable, we received a call from another land owner asking us to sell his land on Monday. The same sized plot, almost identical in location but this guy wants 25m for it.  We see examples of this every week where people seemingly pluck a figure out of thin air or decide they want x amount because that's what they owe the bank or that's the price of the new Benz they want to buy.

[elgordo38]

On 12/15/2016 at 10:55 AM, Rdrokit said:

Bought 5 rai in Non Sung city limits 10 years ago for 120,000/rai. It was on a dirt road with no power access. Since then they have paved the road and added power. Now up to 1 million/rai. 

You Capitalist. 

[KarenBravo]

On 12/19/2016 at 3:08 PM, how241 said:

Not many are talking about the different types of Chanotes... The full (Red Bird) chanote,  which is the highest and strong form of lad ownership,  will usually cost more... This land has been GPS recorded in the land office and on one can make a claim against it...

 

I don't think you understand what Chanote is.

Chanote does not mean land-paper.

A chanote is land that has been surveyed and has the highest certainty of land area. It has a red Garuda.

The next level down is a Nor Sor Sam Gor (green Garuda).

Next is Nor Sor Sam.

There are many other lower land papers.

 

https://www.samuiforsale.com/knowledge/thailand-land-title-deeds.html

Edited January 13, 2017 by KarenBravo

[Rdrokit]

2 hours ago, elgordo38 said:

You Capitalist. 

Yea, but I would never sell. I built in JoHo because it was close enough to Korat but off the beaten track. Now JoHo is becoming just like Korat proper with traffic and new developments going up all over. Time will come to build and move to Non Sung. When I bought in Non Sung there wasn't even a 7-11 now the have multiple 7-11s and a Big C.

[chrisandsu]

1 hour ago, Rdrokit said:

Yea, but I would never sell. I built in JoHo because it was close enough to Korat but off the beaten track. Now JoHo is becoming just like Korat proper with traffic and new developments going up all over. Time will come to build and move to Non Sung. When I bought in Non Sung there wasn't even a 7-11 now the have multiple 7-11s and a Big C.

Well done . I doubt you will find any buyers at a million a rai . My SIL is in pak Chong and they are asking crazy prices I doubt anyone stupid enough will ever pay the asking price . That's the real problem , someone advertises at a very high price then everyone thinks their land is worth the same ! $30 grand for a 1/3rd of an acre of rubbish farm land in laughable . If we are not in a bubble then I really don't know what it's called . I'm not knocking you and if you can get that price you should tear someone's hand off and run as fast as you can ??

[falang07]

Land of scams and nothing else. Price of land in my country (Europe) is also way cheaper than here but salaries there are way higher. Everyone is cheating here, even the land office where the prices are way off the sale price, too. Just scams and scams everywhere. If someone buys for these ridiculous prices, up to them. And people saying that "I will never sell", well, if you think you can take it with you when you die, you will be surpsised how priceless the land becomes when you lay on the deathbed.

[Gary A]

I saw a one rai lot that has been raised, with nice trees, electric and water. I looked at the sign and it was priced at 2,000,000 baht. I went so far as to have the wife call about it and ask if that was the correct price. I suspected that he had one extra zero. That was the correct price. Needless to say that I lost interest. I thought 200,000 was a fair price.

[sinbin]

8 hours ago, Gary A said:

I saw a one rai lot that has been raised, with nice trees, electric and water. I looked at the sign and it was priced at 2,000,000 baht. I went so far as to have the wife call about it and ask if that was the correct price. I suspected that he had one extra zero. That was the correct price. Needless to say that I lost interest. I thought 200,000 was a fair price.

Depending on the land title it may have been the correct price. Just looking doesn't give you a true valuation. It's the name of the title deed that signifies the correct price. I'd have thought you'd have understood that by now?

Edited January 20, 2017 by sinbin

[Gary A]

14 hours ago, sinbin said:

Depending on the land title it may have been the correct price. Just looking doesn't give you a true valuation. It's the name of the title deed that signifies the correct price. I'd have thought you'd have understood that by now?

 

FYI, my wife has accumulated more than 65 rai and each and every one of the properties has a red seal chanote. I once found a beautiful plot of land in the mountains that was for sale. I asked my wife to check it out. It took her about five minutes to tell me she was ready to leave. She informed me that the lady did not own the land and that it belonged to the government even though the lady was farming it. No chanote, no sale.

[chrisandsu]

1 hour ago, Gary A said:

 

FYI, my wife has accumulated more than 65 rai and each and every one of the properties has a red seal chanote. I once found a beautiful plot of land in the mountains that was for sale. I asked my wife to check it out. It took her about five minutes to tell me she was ready to leave. She informed me that the lady did not own the land and that it belonged to the government even though the lady was farming it. No chanote, no sale.

Many places in thailand are like that especially near national parks . Farmers that have lived there for generations were allowed to continue farming . You can buy the land but if you don't farm or use it the oringinal farmer can come back and take the land back . Also if the government come rolling in and you are not the original family owner (farmer) they can kick you off . Many resorts in wam nam khio are built this way . Basically don't buy it . 

[Hereinthailand]

I can not for the life of me how people expect me to pay over three times the price for land here compared to what I can buy back home with good roads, water I can drink, good electric, and internet service. I gave up on even looking at land here due to the stupid prices people think dirt is worth. 

[mfd101]

12 hours ago, Hereinthailand said:

I can not for the life of me how people expect me to pay over three times the price for land here compared to what I can buy back home with good roads, water I can drink, good electric, and internet service. I gave up on even looking at land here due to the stupid prices people think dirt is worth. 

The 'market price' is whatever the market will bear, in a particular place at a particular time. If you can't bear the asking price for land in this spot or some other spot, then you're presumably not in the market. No different here from anywhere else in the world.

 

The only difference here is that Thais have what, to us, seems like a very old-fashioned (peasant) obsession with owning land. (Read Balzac or Zola!) Land is, for them - but also for many in The West still, the only preserver of value. This is not entirely irrational given the clear pressure of population on such a small country, but it does make them often unwilling or unable to deal with 'the market' in rational, negotiating fashion.

[Hereinthailand]

Quite the BS apologist reply for what is clearly understood by anyone that has priced land here. LAND IN THAILAND IS RIDICULOUSLY WAY OVERPRICED BY ANY MEASUREMENT !!!!

[farmerjo]

Land is only overpriced if you do not have any or not enough.

Many people have missed the boat from prices15 years ago and i dont blame them for there downcast attitude,but now it is what it is.Everyone starts from somewhere and the Thai's are buying.

 

[Hereinthailand]

None of the thais I know are buying, houses in developments yes but land even they say no.