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swissie

Isaan Land Prices

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While that great hungry monster to the north keeps buying everything from rice to rubber the prices will keep rising. Think sometimes people forget that we live in a global economy, so why should land prices be different any where in the world, if they produce and have infrastructure to transport etc whats the difference between Thailand USA EU OZ UK. It all comes down to the dollars that can be made. Jim

All decent and lucid points that you make, James. Yet, I have to believe that this "recent" ideal and mentality of consumption just for the sake of it {aka - mindless consumption} has driven prices in locales where this understanding was never a way of life. Remembering, that it wasn't too long ago that an overwhelming percentage of farming land was familial property for substance living with a small income from the land. Today, that percentage of family property ownership is dwindling because of this infection of mindless mass consumerism.

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While that great hungry monster to the north keeps buying everything from rice to rubber the prices will keep rising. Think sometimes people forget that we live in a global economy, so why should land prices be different any where in the world, if they produce and have infrastructure to transport etc whats the difference between Thailand USA EU OZ UK. It all comes down to the dollars that can be made. Jim

All decent and lucid points that you make, James. Yet, I have to believe that this "recent" ideal and mentality of consumption just for the sake of it {aka - mindless consumption} has driven prices in locales where this understanding was never a way of life. Remembering, that it wasn't too long ago that an overwhelming percentage of farming land was familial property for substance living with a small income from the land. Today, that percentage of family property ownership is dwindling because of this infection of mindless mass consumerism.

Have to agree and there is no way to turn the clock back. Thailnd will follow the west. In years to come there will be few small family farms and the vast majority of people will be employees, just has it happened in our own country's. Jim

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"No matter where you go, the price of land for a single RAI of land with proper "Chanote" is 80'000 Bht and no less" ! Even Rice-Patties that need a good "Landfill".

This is probably a pretty accurate quote given the "proper chanote", especially if word gets out that the buyer is not a local. Much of what is being discussed here is land with Tor Bor 5 or Sor Por Kor documents. IMO, a "proper chanote" would be Nor Sor 3 or Nor Sor 3 Gor.

As I said I paid 60k baht per 1 Rai and it's Chanote.

BTW Chanote is Chanote (Nor Sor 4)

Nor Sor 3 and Nor Sor 3 Gor are not Chanote titles.

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"No matter where you go, the price of land for a single RAI of land with proper "Chanote" is 80'000 Bht and no less" ! Even Rice-Patties that need a good "Landfill".

This is probably a pretty accurate quote given the "proper chanote", especially if word gets out that the buyer is not a local. Much of what is being discussed here is land with Tor Bor 5 or Sor Por Kor documents. IMO, a "proper chanote" would be Nor Sor 3 or Nor Sor 3 Gor.

As I said I paid 60k baht per 1 Rai and it's Chanote.

BTW Chanote is Chanote (Nor Sor 4)

Nor Sor 3 and Nor Sor 3 Gor are not Chanote titles.

Well, according to http://www.thailawonline.com/en/property/title-deeds-in-thailand.html NOR SOR 3 / NOR SOR 3 KOR is good title.

Cheers.

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"No matter where you go, the price of land for a single RAI of land with proper "Chanote" is 80'000 Bht and no less" ! Even Rice-Patties that need a good "Landfill".

This is probably a pretty accurate quote given the "proper chanote", especially if word gets out that the buyer is not a local. Much of what is being discussed here is land with Tor Bor 5 or Sor Por Kor documents. IMO, a "proper chanote" would be Nor Sor 3 or Nor Sor 3 Gor.

As I said I paid 60k baht per 1 Rai and it's Chanote.

BTW Chanote is Chanote (Nor Sor 4)

Nor Sor 3 and Nor Sor 3 Gor are not Chanote titles.

Well, according to http://www.thailawonline.com/en/property/title-deeds-in-thailand.html NOR SOR 3 / NOR SOR 3 KOR is good title.

Cheers.

There are still risks involved. A friend of mine through his company bought Nor Sor 3 property. He paid for 82 rai and recently had it split and surveyed. His 82 rai turned out to be 56 rai. He would be quite happy for anyone to assist him with an explanation.

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I rent a house for 6k baht per month. That's 70k baht per year. House would cost 2 mil baht to buy.

If I buy in this illogical enviroment it would take me more than 20 years to make a profit renting the house.

When this real estate and currency bubble bursts I will consider buying land for the kids.

It will burst. Always does.

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I rent a house for 6k baht per month. That's 70k baht per year. House would cost 2 mil baht to buy.

If I buy in this illogical enviroment it would take me more than 20 years to make a profit renting the house.

When this real estate and currency bubble bursts I will consider buying land for the kids.

It will burst. Always does.

Your structure. Country or city situation?

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There are still risks involved. A friend of mine through his company bought Nor Sor 3 property. He paid for 82 rai and recently had it split and surveyed. His 82 rai turned out to be 56 rai. He would be quite happy for anyone to assist him with an explanation.

We paid for a survey before we bought the land, seemed a good idea...

We found out that the seller thought it was 34 rai but it's actually 35. It cost a few hundred baht for the survey.

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2006 10 Rai rubber 1 yr old ฿220,000 ฿22,000

2006 10 Rai Eucalyptus 3 yr old ฿220,000 ฿22,000

2007 20 Rai rubber 3yr, 7 Rai Rice ฿550,000 ฿27,500

2007 17 Rai Rice & Bush ฿140,000 ฿8,235

2010 13 Rai Rice ฿220,000 ฿16,923

2011 32 Rai Eucalyptus 4yr old ฿1,050,000 ฿32,813

The above list is the land I've paid for, the year, what was on the land, total price and price per rai. In the cases of number 3 and 4 we thought we were buying 22 rai and 11 rai respectively and this is the how the price per rai was set. When the official survey was done both parcels were bigger. The locals just go by eyeball and what everyone says. My wife does the dealing and every piece was bought because the owners were in desperate need of money. Some needed survey and registration at the land office to get the chanods. All have chanods for them now.

We get offered land to buy constantly but if there is any family drama or title problems we stay away.

I also paid 100,000 baht for a 50 x50 meter plot in our village in 2005 for our house. At the time everyone was shocked but the price has since tripled at least for house plots.

Buy what you can at the price you can afford, they're not making any more land.

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There are still risks involved. A friend of mine through his company bought Nor Sor 3 property. He paid for 82 rai and recently had it split and surveyed. His 82 rai turned out to be 56 rai. He would be quite happy for anyone to assist him with an explanation.

The way the land department surveyor explained to us when surveying for Nor Sor 4 Jor, Nor Sor 3 can be encroached. After the marked posts are set, encroachment would be much more difficult.

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I rent a house for 6k baht per month. That's 70k baht per year. House would cost 2 mil baht to buy.

If I buy in this illogical enviroment it would take me more than 20 years to make a profit renting the house.

When this real estate and currency bubble bursts I will consider buying land for the kids.

It will burst. Always does.

What about some degree of financial security for the family you leave behind when you die?

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Mark Twain Quote:.......... “Buy land, they're not making it anymore”.

In the long term land in the North East can be a good investment and there is certainly going to be a food shortage in years to come. Ever increasing fuel prices and changing weather conditions will continue to drive farming costs and crops prices upwards. More people to feed in the world and changing diets within Asia are also a factor making farm land more attractive as an investment. If I had more money to invest right now then i would certainly keep buying small pieces of land wherever possible in that region. The land we own has increased considerably over the last 10 years. Thais from the south are moving more to the north east as the unrest affects business and talk is that Bangkok will be flooding more in years to come so business people are considering other cities to work out of further north. Just my opinion but much of the aforementioned cannot change. Thais could owe more money in future if they make the same mistakes as us in the western world by over inflating property prices but land in Thailand compared to other parts of the world is still relatively cheap and still has room to grow further.

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Some asking price examples near Surin

Agricultural land for sale in Surin

* Land for sale 43 Rai, location 15 km from Surin City, price 163.000 THB/Rai

* Land for sale 25 Rai, location 12 km from Surin City, price 120.000 THB/Rai

* Land for sale 22 Rai, location 15 km from Surin City, price 72.000 THB/Rai

* Land for sale 25 Rai, location 30 km from Surin City, price 70.000 THB/Rai

* Land for sale 9 Rai, location 9 km from Surin City, price 200.000 THB/Rai

* Land for sale 14 Rai, location 12 km from Surin City, price 85.000 THB/Rai

* Land for sale 26 Rai, location 17 km from Surin City, price 80.000 THB/Rai

* Land for sale 8 Rai, location 4 km from Surin City, price 280.000 THB/Rai

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Some asking price examples near Surin

Agricultural land for sale in Surin

* Land for sale 43 Rai, location 15 km from Surin City, price 163.000 THB/Rai

* Land for sale 25 Rai, location 12 km from Surin City, price 120.000 THB/Rai

* Land for sale 22 Rai, location 15 km from Surin City, price 72.000 THB/Rai

* Land for sale 25 Rai, location 30 km from Surin City, price 70.000 THB/Rai

* Land for sale 9 Rai, location 9 km from Surin City, price 200.000 THB/Rai

* Land for sale 14 Rai, location 12 km from Surin City, price 85.000 THB/Rai

* Land for sale 26 Rai, location 17 km from Surin City, price 80.000 THB/Rai

* Land for sale 8 Rai, location 4 km from Surin City, price 280.000 THB/Rai

Interesting to note the dense variations of price per rai depending on locale. Personally, as Surin rural land applies, property prices are skyrocketing to unseemingly insane quotes. Whatever the market will bear. Some month ago, my MIL was mentioning that a neighbor of ours was asking B500,000 for a 2 rai parcel - we are talking average prime and fertile farm land - only 16 kms from town, but very countryside.

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I rent a house for 6k baht per month. That's 70k baht per year. House would cost 2 mil baht to buy.

If I buy in this illogical enviroment it would take me more than 20 years to make a profit renting the house.

When this real estate and currency bubble bursts I will consider buying land for the kids.

It will burst. Always does.

Exactly the same mathematics in Brisbane, for example. My brother has been living there for many years.

ALSO: With the slogan "they are not making any more land", a zillion of people in the US have been lured into the Real-Estate- Boom.

What happened in the meantime, we all know and I don't have to go into detail.

The thing is just: Real-Estate booms can last for decades, before any sort of "washout" takes place. As opposed to Stock / Bond / Commodity booms. Those booms usually have a shorter "cycle-life".

So, it would be of crucial importance to right-guess at what stage the current real-estate-boom in Thailand is. = At the beginning, in the middle or in the "mature-stage" of the boom?

Your guess will probably be as good as mine. HeHe.

Cheers.

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