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BANGKOK 24 March 2019 07:25
Joe Walshe

Farm Land Prices

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Thanks Thoongfoned, some interesting points.

I suppose putting it simply land will ultimately always go up in price with inflation anyway anywhere in the World. As I am not mcurrently in Thailand I was curiouse to know if agricultural land had rapidly increased in value due to crop and rice prices going up.

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Off topic, inflammatory and abusive posts have been deleted. Lets try to keep this on topic without abusing other posters. It is possible to have a difference of opinion without flaming.

Further such posts will result in warnings being handed out.

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500k and its in a good location.

Really, it's in a good location? Why is that? Did your wife tell you it's a good location?

IT'S RICE LAND. :o:D:D

Like I said, the beach front land decaids ago was the worsed land in the thai family, it was cheap and given away to family and children.

Now look at it, who is laughing now ?

My soon to be wife did tell me it was good location and from what i see it is, there is a road nearby and electric and all and close to a small corner shop.

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Farm Land sells for about 10,000 to 20.000 Baht per Rai depending on location. Back in 2003 I paid 4000 Baht per Rai for 16 Rai of "Rice Land" or farmland in my Thai wifes name. Now it is worth maybe 4 or 5 times what we paid. However in my opinion you should not be paying anymore than 20,000 Baht per Rai anywhere in Thailand..

When buying this land take note of the type of title it has most of this land comes with just a possessory right and not a Chanote. This effectively means you pay Tax on it and have "squatters rights".

I love my wife dearly but I have one rule of thumb - never invest money in Thailand that you cannot afford to lose.

I would like to add further comment but fear my sensible comments would be removed.

Someone once told me "Thailand is Paradise to a few and a fools paradise to most." I think it is for this reason that I remain sane :-)

Edited by maprao

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....listen guys try and tell it as it is.......if you paid for the land in your wife's name then let us all know that,,...its especially helpful to new members,....who read through and think yeh these older guys own land..then its ok......not realising that many more bought land and split with their gf.....p.s.and that includes me ...as i tend to say "we" bought or "our" house....

Edited by dee123

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Farm Land sells for about 10,000 to 20.000 Baht per Rai depending on location. Back in 2003 I paid 4000 Baht per Rai for 16 Rai of "Rice Land" or farmland in my Thai wifes name. Now it is worth maybe 4 or 5 times what we paid. However in my opinion you should not be paying anymore than 20,000 Baht per Rai anywhere in Thailand..

When buying this land take note of the type of title it has most of this land comes with just a possessory right and not a Chanote. This effectively means you pay Tax on it and have "squatters rights".

I love my wife dearly but I have one rule of thumb - never invest money in Thailand that you cannot afford to lose.

I would like to add further comment but fear my sensible comments would be removed.

Someone once told me "Thailand is Paradise to a few and a fools paradise to most." I think it is for this reason that I remain sane :-)

Thanks for that Maprao.

would you mind telling us what part of Thailand you purchased the land. It's just that Land near say Phuket or Chonburi would be influenced by different economic factors than say Buriram or Udon Thani.

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Around our area , paddy land with available water has been going for 100k and upwards for the last 4 years,sugar (dry) country is now almost at that figure.

An indicator is that the money lenders are lending up to 50k per rai using the same land as collateral.

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....listen guys try and tell it as it is.......if you paid for the land in your wife's name then let us all know that,,...its especially helpful to new members,....who read through and think yeh these older guys own land..then its ok......not realising that many more bought land and split with their gf.....p.s.and that includes me ...as i tend to say "we" bought or "our" house....

Over the past four years I have bought my Wife four separate pieces of land. Two are ten rai each. That said, I have NOT spent more than I can afford to walk away from. I decided that when I am dead and gone that she can make a meager living from the land whereas a fancy house would be a burden to her. She also has a two bedroom western style house that I have westernized to suit my wants and needs. If our marriage were to break up tomorrow, I would feel that she deserves the things I have bought for her.

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Farm Land sells for about 10,000 to 20.000 Baht per Rai depending on location. Back in 2003 I paid 4000 Baht per Rai for 16 Rai of "Rice Land" or farmland in my Thai wifes name. Now it is worth maybe 4 or 5 times what we paid. However in my opinion you should not be paying anymore than 20,000 Baht per Rai anywhere in Thailand..

When buying this land take note of the type of title it has most of this land comes with just a possessory right and not a Chanote. This effectively means you pay Tax on it and have "squatters rights".

I love my wife dearly but I have one rule of thumb - never invest money in Thailand that you cannot afford to lose.

I would like to add further comment but fear my sensible comments would be removed.

Someone once told me "Thailand is Paradise to a few and a fools paradise to most." I think it is for this reason that I remain sane :-)

Thanks for that Maprao.

would you mind telling us what part of Thailand you purchased the land. It's just that Land near say Phuket or Chonburi would be influenced by different economic factors than say Buriram or Udon Thani.

Yes sorry I should have specified. It is in a rural area in the province of Sakeo. My estimation refers to land in the provinces. However land is selling for what I would term "too much" driven by Farang who have the money to pay inflated prices. All my wifes land was bought from people who wanted to sell quickly.

If you are in areas like Pattaya and Phucket the land is much more expensive. In these areas the land has a Chanote. Looking at reposessed land on bank websites will give you a good idea of the going rate in these areas. Unfortunately this information is in Thai but it is fairly easy to determine area versus price. All Major banks in Thailand have them. I look at the SCB website for my "rule of thumb". I hope that helps Joe.

To satisfy other comments the fact that it is all in my wife's name was stated before.

Only land with a Chanote or the next level down can be used as collateral with a bank. I would never recommend that anyone get into debt to buy land in Thailand in someone elses name.

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I think you would be hard pressed these day to find any land any where near Udon for 10K a ria. 100K and up would probably be more accurate. As matter of fact if I found land at 100K a rai here, on a paved raod with electricty I would probably be out buing it not wrining on this topic. :o

But somethimgs don't change here, you want a good buy you have to find a motivated seller.

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I think you would be hard pressed these day to find any land any where near Udon for 10K a ria. 100K and up would probably be more accurate. As matter of fact if I found land at 100K a rai here, on a paved raod with electricty I would probably be out buing it not wrining on this topic. :o

But somethimgs don't change here, you want a good buy you have to find a motivated seller.

I agree. I bought ten rai a couple of years ago from a distressed seller and paid 18,000 baht per rai. It is on a narrow dirt road and has no electricity available. Even here in the boonies of Loei, that was considered a good price. My sister in law recently paid 100,000 baht for a VERY low plot off a paved road with electricity available. I might add that her husband is also Thai. No way would I have paid that much.

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....listen guys try and tell it as it is.......if you paid for the land in your wife's name then let us all know that,,...its especially helpful to new members,....who read through and think yeh these older guys own land..then its ok......not realising that many more bought land and split with their gf.....p.s.and that includes me ...as i tend to say "we" bought or "our" house....

I don't own any land in Thailand. My wife owns land. Sometimes, when posting, I say 'my farm' instead of 'our/her farm'.

Thank you for all your posts.

I think investing in farmland in Thailand to grow crops in retirement is wise. Whether one does it small scale or large scale might depend on how you want to spend your so called retirement time.

Seems wise to me to let my wife and kids inherit developed farmland than cash or other equities.

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....listen guys try and tell it as it is.......if you paid for the land in your wife's name then let us all know that,,...its especially helpful to new members,....who read through and think yeh these older guys own land..then its ok......not realising that many more bought land and split with their gf.....p.s.and that includes me ...as i tend to say "we" bought or "our" house....

I don't own any land in Thailand. My wife owns land. Sometimes, when posting, I say 'my farm' instead of 'our/her farm'.

Thank you for all your posts.

I think investing in farmland in Thailand to grow crops in retirement is wise. Whether one does it small scale or large scale might depend on how you want to spend your so called retirement time.

Seems wise to me to let my wife and kids inherit developed farmland than cash or other equities.

Joe

I am the same as you in that respect.

Basically it is a given that when we talk of my or our we mean the family land which is in our wives name that in all probability we paid for. It will always be "our" land etc up until the time we divorce or die.

In my case we are making a will so that each leaves everything to the survivor and in my wifes case it is to go to our son with me named as his guardian until he reaches his legal majority. At that stage I will probably be dead anyway and my wifes middle brother will become the legal guardian until such time ......

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Curious to know if agricultural land prices are increasing in Isarn. In particular around Loei, Chaiyaphum and Chumphae.

Moderator; wasn't sure if this should be in Real estate section.

found out today my brotherinlaw/ friend has bought 7 rai for 50,000b each about 30k from khon kaen. is this a good price????????

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Curious to know if agricultural land prices are increasing in Isarn. In particular around Loei, Chaiyaphum and Chumphae.

Moderator; wasn't sure if this should be in Real estate section.

found out today my brotherinlaw/ friend has bought 7 rai for 50,000b each about 30k from khon kaen. is this a good price????????

It has been said many times that land is worth whatever you are willing to pay for it. It all depends on why you want the land. If you want to build a house in a choice location, the land is very valuable to you, BUT, if you want to farm this piece of land then it is most likely a poor investment.

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