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BANGKOK 23 March 2019 07:09
Joe Walshe

Farm Land Prices

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Wife and i now have quite a bit of land, also if the price is right we are still buying, we are buying mainly for the interest of our children, and we are carefull where we buy, location, it has to be on a concrete road etc, most of the land we have bought was 6 to 7 years ago, boy has the prices gone up, i was looking for property in Buriram town centre last year, as most of these shophouses etc are only to lease, mainly off chinese - thais, i went to view a property near speed, this was for sale at 27 million baht, i asked the vendor if he thought i had come to Buriram on a banana boat, i told him been coming to buriram for 14 years, so please do not try to rip ferrang off, bet you this property will still be for sale in 5 years time, was interested in the old bank next to the bamboo bar, 6 years ago the property was not in bad nick, the price then was 5 million baht, the property is still for sale and to my astonishment, the price they want now is 10 million baht, the place is now delapitated and you would have to spend a couple of mil getting it up to scratch, the prices of property in town have almost doubled in the last 2 to 3 years. the same with land in certain areas, sometimes i wondor if these sellers have brains as when one puts an offer in, they stick the price up, when buying land we leave it to my wife or sister in law. ferrang out of site.

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We live in the Isan area and we have payed lots of different prices for land.

Between 5 and 750k the 750k is where we built our second house.

5k was form some local villages where our first house is.

My wifes brother has 10 Rai but it is so far from the roads and water it is only worth about 8ka Rai. I never go with my wife when we are buying land she allways goes with her mother and some very Knowledgable uncles. I have got some realy good bargains but these normaly come about when a Thai is desperate for money. When my wife and family realise this they generaly offer 25 to 30 % of the asking price and this has worked well. However we never buy any land without me looking at it and discussing how it can be used. When Thais need money the bargains are there. We now have a very good and profitable cow farm (Family are real experts around our area) Lease some land to outher farmers. Grow variouse crops which we are about to experiment with outher varieties after reading topics in the farming forum. Lucky for me the family as a whole now except change if it for the better and our yields from our crops have increased significantly. Land value here is the same as anywhere else in the world its value depends on a combination of lots of different things.

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500k and its in a good location.

think you were payed over the odds for that 500,000 thai bhat

my wifes sister needed money so i buy 10 rai

she want 30,000 thai bhat a rai

but i pay only 20,000 thai bhat i tell her mai me satang = 200,000 bhat

maybe your wife tuck you up it does happen

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...Only land with a Chanote or the next level down can be used as collateral with a bank....

Hi maprao

Usually true, however...Sor Por Kor land can now be used as collateral for a loan with BAAC (though only if you already possess the land since Sor Por Kor land can't be sold).

Rgds

Khonwan

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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.

I forgot about this post I made. I think the above still hold true except in areas in Chonburi and Phucket. The land above is in Sakeo. I think the figures above still hold true. Having said that I have just paid 300,000 for 2 Rai of effectively farmland; Its however on the main highway to Buriram outside a big town with its own Amphur....

I have another 20 years before I want to anything with this

So I guess the price is in the eye of the beholder...4000 baht per Rai a few years ago with irrigation canal. 20,000 baht per Rai for land in village for the house and now 150,000 per Rai on a main highway..

The rule I have highlighted above still applies.

Edited by maprao

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I live in the boonies of Loei province. You would be hard pressed to find any land around here that has a chanote for less than 30,000 baht per rai. Land with access to a good road, water and electricity goes for about 100,000 baht per rai.

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My Thai wife’s family is going to sell their farmland, situated between Sakon Nakhon and Udon Thani. It’s about to be made very accessible by a new highway running along its boundary and riverside, and will be a good location for various developments. It seems the family don’t really know the best way to advertise the sale, so I’m just wondering if anybody could pass on hints about sourcing land for sale in Isaan. For example, would it be from agents? Newspaper adverts? Local signboards? Government offices? I could place an advert in the classified section here, but welcome thoughts on where best to attract interest on behalf of the family.

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My Thai wife’s family is going to sell their farmland, situated between Sakon Nakhon and Udon Thani. It’s about to be made very accessible by a new highway running along its boundary and riverside, and will be a good location for various developments. It seems the family don’t really know the best way to advertise the sale, so I’m just wondering if anybody could pass on hints about sourcing land for sale in Isaan. For example, would it be from agents? Newspaper adverts? Local signboards? Government offices? I could place an advert in the classified section here, but welcome thoughts on where best to attract interest on behalf of the family.

Best advice is don't get involved, period. If you do you will end up feeling like a fool. What you are told will be what they think you want to hear, not the facts. Land has charnot, we own the land it's free and clear of liens etc Your family is Thai and know how to buy and sell land in their home country. If they are asking you to help, then they are hoping you can find bunny Jim

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My Thai wife's family is going to sell their farmland, situated between Sakon Nakhon and Udon Thani. It's about to be made very accessible by a new highway running along its boundary and riverside, and will be a good location for various developments. It seems the family don't really know the best way to advertise the sale, so I'm just wondering if anybody could pass on hints about sourcing land for sale in Isaan. For example, would it be from agents? Newspaper adverts? Local signboards? Government offices? I could place an advert in the classified section here, but welcome thoughts on where best to attract interest on behalf of the family.

Best advice is don't get involved, period. If you do you will end up feeling like a fool. What you are told will be what they think you want to hear, not the facts. Land has charnot, we own the land it's free and clear of liens etc Your family is Thai and know how to buy and sell land in their home country. If they are asking you to help, then they are hoping you can find bunny Jim

No, they are not asking me to get involved at all - but thanks for the advice. It's just something I offered to do, but only so far as seeing if there are ways and means they aren't aware of, then it's entirely up to them to sort it out.

NB: When I asked the missus how locals go about selling land, she replied with words to the effect that they seem only to stick a few posters around, and use word of mouth. I can't see how that is very effective.

Edited by Jezz

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My Thai wife's family is going to sell their farmland, situated between Sakon Nakhon and Udon Thani. It's about to be made very accessible by a new highway running along its boundary and riverside, and will be a good location for various developments. It seems the family don't really know the best way to advertise the sale, so I'm just wondering if anybody could pass on hints about sourcing land for sale in Isaan. For example, would it be from agents? Newspaper adverts? Local signboards? Government offices? I could place an advert in the classified section here, but welcome thoughts on where best to attract interest on behalf of the family.

Best advice is don't get involved, period. If you do you will end up feeling like a fool. What you are told will be what they think you want to hear, not the facts. Land has charnot, we own the land it's free and clear of liens etc Your family is Thai and know how to buy and sell land in their home country. If they are asking you to help, then they are hoping you can find bunny Jim

No, they are not asking me to get involved at all - but thanks for the advice. It's just something I offered to do, but only so far as seeing if there are ways and means they aren't aware of, then it's entirely up to them to sort it out.

Jezz I have a simple rule here, if it's not my money it's not my concern. Jim

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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.

Exactly. In nearby Nong Bua Lam Phu province, home to vast sugar cane fields and a blossoming rubber tree trade, good arable farm land with water available goes for much more like 100k Baht per Rai than it does 10,000. No way you get good land today with a chanote for much less than 50k Baht per Rai.

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Maybe I asked my question in the wrong thread. The information I'm seeking is, what method of advertising, apart from sticking up a few posters and using word of mouth, do Thais use to market land they want to sell? (Originally asked in #38 above.)

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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..

My wife owns quite a few rai outside of Surin. The above prices are about right. However we also own 40 rai up in the mountains near Sara Buri. "She" bought this land with a Chanote, from an old lady that was just tired of arguing and negotiating for a discount, then finding the person only wanted a few rai. She finally told everybody not to bother her any more, and when she was gone, the children could handle the problem.

She had been asking 100k/rai. We have property at a resort that sets on 3 sides of this piece. Land at the resort sell for 1.5 million/rai.

After hearing about this for 3 years, I went and talked to the old lady. The only negotiating I did was to insist she pay all taxes and cost.

When my wife bought it, all our neighbors were more than shocked. Then many came and wanted to buy a rai or less, to make tennis courts, or expand their back yard that this land butts up too. When she told them 1 million/rai it was hilarious watching their reactions....

So the premise of no farm land is worth more than 20K/rai I believe is a bit flawed.

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If our marriage were to break up tomorrow, I would feel that she deserves the things I have bought for her.

+1

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