Land Values

[Lancashirelad]

can anyone please tell me an approximate fair valuation of 5 rai of rice growing land?

not far from Bua Yai.

g/f's family are considering selling it to pay off a debt.

also, how many rai to the acre please?

[blue eyes]

can anyone please tell me an approximate fair valuation of 5 rai of rice growing land?

not far from Bua Yai.

g/f's family are considering selling it to pay off a debt.

also, how many rai to the acre please?

The price is relative to the area and the quality and access to water.

A rai is............

sq.Wah=400,sq.ft.=17222,sq.m=1600,Ngan=4,Rai=1,Acre=.40,Hectors=.16

Or to answer your? 2.5 rai to the acre.

Edited January 4, 2007 by blue eyes

[thedi]

can anyone please tell me an approximate fair valuation of 5 rai of rice growing land?

There is no such thing as a 'fair value' for land in Thailand. It all depends on how much somebody wants to sell and/or someone want's to buy.

My wife bought 3.5 rais for 180'000 and another 3.3 rais for 1'350'000. Both have access to a road, water & electricity, but the expensive one is on a highway and the other on a small road of the village, the two plots have a common border.

The main difference was this: we bought the cheap land because the previouse owner begged us to buy it, build a house on it and then we wanted to buy the expensive one to increase the garden of our house and to have a direct access to the highway.

If you take the possible profit from growing rice as a base, you should not pay much more than 15'000 baht/rai

Regards

Thedi [email protected]

[oceanrover]

I have to agree with Thedi on this one. Fair is a relative term that does not translate into western thinking. Recently we looked to buy some land that we were told was for sale in my wife's village for a specific price. After WE asked about it with the owner it all of a sudden said was not for sale but of course he had another plot close by for twice the previous price. Also happens that it was the only plot then for sale since the other villagers keep a united front it seems to avoid competition so if you want land in the village you pay the price. WE DID and I was a little miffed for a few days. I find it hard to swallow paying similar prices for land in the village when it is what rural land in the U.S. can be found for. It is where the family wants to be and there are not any real estate agents running around marketing plots or for sale signs so it seems to ALWAYS be a sellers market. Something is only worth what someone is willing to pay for it and the asking price increases when the buyer seeks out the seller to start with. I am not a fan of the system, but I hope to learn to deal with it as I age or I may become a raging lunatic attempting to apply logic to it. TIT.

Mike in Seattle

[Lancashirelad]

wow, upto now 15,000 is the lowest figure per rai mentioned, but thedi paid almost 410,000 that's a heck of a spread!

can i buy some at 15k and sell it for 400?

Edited January 4, 2007 by Lancashirelad

[Lancashirelad]

any further information gratefully accepted..............

Edited January 5, 2007 by Lancashirelad

[naka]

wow, upto now 15,000 is the lowest figure per rai mentioned, but thedi paid almost 410,000 that's a heck of a spread!

can i buy some at 15k and sell it for 400?

You need to re-read the previous posts.

Naka.

[Cuban]

It seems obvious that a farang should never attempt to buy land, not for any Thai restriction on ownership or company formation, but for the fact that the sniff of a farang buyer will increase local land prices across the board.

Might even a Thai person, from a family that has a farang in the household, risk increasing the land price by simply asking?

I'm guessing (as I have yet to try this approach myself) getting a fair price would need local secrecy, so show no interest in land in the area. The approach could made from a trustworthy lawyer instructed to conceal where the request is really coming from, but solely refer to the Thai company name.

With this in mind I am inclined to use a company name that is purely Thai thus not giving the game away. I have not considered this approach in depth yet but I'm thinking about 'Something Rice Cooperative Ltd' (in Thai of course).

Also the first approach could be made toward land that you are not really interested in. Thus establish the sellers focus on Land X, when that price is revealed say that is too expensive and move on to Land Y.

Yes, it requires a good lawyer and that cost may outweigh the saving on the land?

Any thoughts?

[Rinrada]

Rule of Thumb.....Buying land in Thailand is mostly down to who you know and NOT what you think..... ...ra wang........

[lannarebirth]

It seems obvious that a farang should never attempt to buy land, not for any Thai restriction on ownership or company formation, but for the fact that the sniff of a farang buyer will increase local land prices across the board.

Might even a Thai person, from a family that has a farang in the household, risk increasing the land price by simply asking?

I'm guessing (as I have yet to try this approach myself) getting a fair price would need local secrecy, so show no interest in land in the area. The approach could made from a trustworthy lawyer instructed to conceal where the request is really coming from, but solely refer to the Thai company name.

With this in mind I am inclined to use a company name that is purely Thai thus not giving the game away. I have not considered this approach in depth yet but I'm thinking about 'Something Rice Cooperative Ltd' (in Thai of course).

Also the first approach could be made toward land that you are not really interested in. Thus establish the sellers focus on Land X, when that price is revealed say that is too expensive and move on to Land Y.

Yes, it requires a good lawyer and that cost may outweigh the saving on the land?

Any thoughts?

Yes, I think you think too much. Have your wife talk to the puyai baan of whatever area you're interested in and he will likely tell you straight up, what's available and for how much.

[phibunmike]

If you take the possible profit from growing rice as a base, you should not pay much more than 15'000 baht/rai

In my area there is no rice land as low as 15,000 baht per rai; here 50,000 is more typical. Near a main road of course it is much higher, but the intended purpose is then not rice.

Thedi's figure works from a business sense, but I believe here land ownership is more of an emotional thing and something to pass to the children.

[piggy]

If you take the possible profit from growing rice as a base, you should not pay much more than 15'000 baht/rai

In my area there is no rice land as low as 15,000 baht per rai; here 50,000 is more typical. Near a main road of course it is much higher, but the intended purpose is then not rice.

Thedi's figure works from a business sense, but I believe here land ownership is more of an emotional thing and something to pass to the children.

Hi all,

I'm from the area near Korat, in my village now the price of rice land is 55,000B per rai. It's too expensive but very good to build the rice and had enough of the water to build the rice.

piggy

[tato71]

My fiancee and myself are considering buying 30 up to 40 rai near Surin area,

about 10-15km away from center town.

We would like to build a house there on this land lot as well as farming the

rest of the land.

What price shall we espect in this area always bearing in mind that we must be

located on a land with full electricity and water supply ?

Plse also indicate whether adsl internet connection are available in this area

Many thanks for your usefull advise

B.rgds

Tato

[ajarnski]

My parents bought 30 rai of casava farm land about 50km from Kamphangphet for 6000 baht per rai. I bought 9 rai of casava farm land near Sueong Nern (Korat) at about 28,000 baht per rai. I also bought 1 rai of land for building a house about 300 yards from my casava farm for 150,000 baht. So there you go. Hope that confuses the picture even more.

Ski......

[LoveDaBlues]

It seems obvious that a farang should never attempt to buy land, not for any Thai restriction on ownership or company formation, but for the fact that the sniff of a farang buyer will increase local land prices across the board.

Might even a Thai person, from a family that has a farang in the household, risk increasing the land price by simply asking?

I'm guessing (as I have yet to try this approach myself) getting a fair price would need local secrecy, so show no interest in land in the area. The approach could made from a trustworthy lawyer instructed to conceal where the request is really coming from, but solely refer to the Thai company name.

With this in mind I am inclined to use a company name that is purely Thai thus not giving the game away. I have not considered this approach in depth yet but I'm thinking about 'Something Rice Cooperative Ltd' (in Thai of course).

Also the first approach could be made toward land that you are not really interested in. Thus establish the sellers focus on Land X, when that price is revealed say that is too expensive and move on to Land Y.

Yes, it requires a good lawyer and that cost may outweigh the saving on the land?

Any thoughts?

You're only going to make a lawyer very happy. Just eat lunch at a/the locals place and have the GF/wife make small talk. Eventually have her tell the owner you're interested in buying some land in the general area. Leave name/phone number and the calls will come in. Be patient; eventually someone who REALLY wants to sell will offer a fair price. Your 007 approach won't work.

The above worked for me. Only took a month. All the land in the general area I wanted was 500,000 per rai asking price. I bought 5.5 rai for 460,000 total + I paid transfer tax of 25,700 for a total price to me of 485,700 baht.

This was rice land and I paid 113,000 baht to raise 1 rai for the house build. We have already planted/harvested sticky rice and got 30 sacks for the family.

I've seen rice land go for as little as 16,000 baht per rai. The location of our land is what drove the price up; only 12 kilometers to downtown Udon Thani yet in a small village and has water, power, land-line, cell tower 1 kilometer away.

When you find a Thai who REALLY wants to sell (read: needs money fast) he won't care if you're Thai, farang, martian, etc........only that you have MONEY.

[Cuban]

> When you find a Thai who REALLY wants to sell (read: needs money fast)...

What time of year was this? Hot or wet season?

[LoveDaBlues]

> When you find a Thai who REALLY wants to sell (read: needs money fast)...

What time of year was this? Hot or wet season?

Late August; but I don't think the time of year matters. I've found for the most part Thai's are not inclined to be SELLERS of land; only holders or buyers. They only sell when they can make a ridiculous profit or are in a bind and need money.

The guy I bought from had 2 parcels; both roughly the same size. He was about 2 days from getting his Toyota truck repoed so he needed money FAST.

I think Guesthouse picked up a sweet deal of 10 rai with basically the same situation; guy needed cash or his BMW was to be repoed. This is how I remember the thread.

[Gary A]

An old man in our village was bedfast and VERY sick. His children were there taking care of him. One day there was a knock on the door and a man from the bank told the children that the old man had taken out a loan and that they had one week to pay it off or the house would be taken away from them. The old man also had 25 rai in the country. Since I was the only one in the village who could come up with some money quickly they came to see my wife. We had a look at the land. It is off a narrow mud road and there is no electricity available. I agreed to pay 18,000 baht per rai for 10 rai. It DID have a red seal chanote. The 10 rai was surveyed off and paperwork drawn up. We paid in advance against my better judgment but did it at the bank in front of witnesses. The old man died before the paperwork was finished. It took a year before everything was completed. My wife had to track down all the kids and have them sign off. One was in prison because of Yabba. The 18,000 baht per rai was a cheap price and that land is out in the boonies. There are some nice smaller plots available with electricity on good roads but the average cost in this area will be between 200,000 and 500,000 baht per rai.

[jayenram]

sq.Wah=400,sq.ft.=17222,sq.m=1600,Ngan=4,Rai=1,Acre=.40,Hectors=.16

Or to answer your? 2.5 rai to the acre.

Agreed, but this table may be easier to read:

Length...........1 wah = 2.16 yards = 2 metres

Area..............1 talang wah = 4.78 sq. yards = 4 sq. metres

.....................100 talang wah, (1 ngan) = 478 sq. yards = 400 sq. metres

.....................4 ngan, (1 rai) = 1,912 sq.yards = 1,600 sq.metres