Crazy land prices.

Post by **bumper** » October 9, 2013, 7:06 pm

Somebody is smoking something at that price. I could see 250K. But, million

Post by **rick** » October 9, 2013, 9:15 pm

Yes 2.5 million a rai. ASKING PRICE. However, land is being sold closer to Nong Sai and Nong Nalam at 1 million a rai, several lots have gone in last year. I was offered 1.5 rai of swamp (one time rice paddy, but never dries out), for 800,000 baht, said maybe 400,000, sold fir 1 million ....

Post by **bumper** » October 10, 2013, 8:30 am

Why?

Got any idea, not close to the University. We were recently told about 10 Rai, on the edge of Nong Sai, power in front dirt road 400K a rai asking price with a Chanote. Rice field so you would need fill dirt to build a house. Don't know if she would break it up or not.

Our little farm is 1.25 Rai paid 350 for it. But the title is a mess that still needs to be resolved. We have been told we could build a house there, by the land Office. It's an easy fix they simply did not go to Court and have it devided between the family members officially. The file with the land office. Problem like most Thai;s they are afraid of the Courts.

The recently sold three rai for 500K a rai. But, that was to settle a gambling debt so I doubt it is really worth that.

It is currently zoned for agriculture use only. Has a Nor Sor Som for the 32 Rai. So that is is an iffy piece of property.

Nong Bua is putting in another section of Cement road to hook up with Nong Sai's cement road. My guess it will all be cement within two years.

Unless someone knows something I don't, don't see the value in that land.

Like you said asking. But, that is setting the sights awful high

Post by **kubotatim** » October 10, 2013, 10:12 am

As everywhere, it is worth what someone will pay for it!

Post by **glalt** » October 10, 2013, 11:15 am

Maybe my wife is right. She has been trying to raise the money to buy 8 rai of farm land at 80,000 baht per rai. I refuse to help her because in my opinion, it is way overpriced. Seeing some of the crazy prices being quoted, 80,000 for chanote titled land seems quite reasonable.

Post by **dogger** » October 10, 2013, 11:48 am

just depend how far out of town it is, that the main determiner at the moment and end use of course.

Post by **bumper** » October 10, 2013, 12:01 pm

If it within ten Klms of Udon that is cheap.

Post by **KHONDAHM** » October 11, 2013, 1:53 pm

glalt wrote:Maybe my wife is right. She has been trying to raise the money to buy 8 rai of farm land at 80,000 baht per rai. I refuse to help her because in my opinion, it is way overpriced. Seeing some of the crazy prices being quoted, 80,000 for chanote titled land seems quite reasonable.

I have no idea where that land is located, but that's about right for boonie land which might have sold for 20k 7-10 years ago.

Anyone coming across 20k/rai land for sale, I'll buy it and won't care where it is if it's chanote.

Post by **bumper** » October 11, 2013, 3:22 pm

Got ten with a Chanote on the edge of Nong Sai power to the property. She is asking 400 K a rai. But, think you can get it for less.

Post by **glalt** » October 11, 2013, 5:28 pm

KHONDAHM wrote:
glalt wrote:Maybe my wife is right. She has been trying to raise the money to buy 8 rai of farm land at 80,000 baht per rai. I refuse to help her because in my opinion, it is way overpriced. Seeing some of the crazy prices being quoted, 80,000 for chanote titled land seems quite reasonable.
I have no idea where that land is located, but that's about right for boonie land which might have sold for 20k 7-10 years ago.

Anyone coming across 20k/rai land for sale, I'll buy it and won't care where it is if it's chanote.

That land is five kilometers west of Nong Hin off highway 201, then north of the small village of Nong Gik where we live.There is 16 rai for sale total and my wife and another Thai want to split it to 8 and 8 rai. The land is on a paved road but is about a kilometer from the electric grid. It does have a fairly large pond on one piece. Since it is about 333 meters above seal level, it may sell fairly quickly. It is now rice paddy. We have 16 rai next to it.

Post by **bumper** » October 12, 2013, 9:18 am

Coast per Rai? That's a long ways for electric

Post by **glalt** » October 12, 2013, 1:12 pm

I'm of the opinion that 80,000 baht per rai is too much for land out in the boonies. The government will run power lines provided that there are a certain number of houses with official addresses that want service. It's a catch 22 situation. People won't build houses until there is electricity and the government won't install service without houses to connect.

Post by **thaiguzzi** » October 12, 2013, 2:05 pm

Land is worth whatever people are willing to pay. Agricultural land with nothing on it, Sor Por Kor paperwork or less IS fetching 100k per rai round here (Ampur Ban Dung). Rice paddy on road frontage (no Chanote) is fetching FOUR times that. Go into town and 6 mil per rai is not uncommon. And it's selling.

Post by **bahn_nok** » October 13, 2013, 7:47 pm

I am now in Udon Thani and saw an tuk-tuk ad for a condominium. I can't read Thai but I read 5.9. Does this mean that a condominium is for sale for 5.9 million baht

Post by **KHONDAHM** » October 13, 2013, 11:01 pm

Boggles the mind, doesn't it? 5.9 m for a condo prolly the size of a shoebox and made with the cheapest materials available and questionable quality. In Udon, of all places...but someone will buy...

Somone correct me, but I think that was the starting price of LeCellini homes several yeas ago...

Post by **Svein66** » October 14, 2013, 8:58 am

Northeast housing market overheating

http://www.bangkokpost.com/business/new ... verheating

Post by **Prenders88** » October 14, 2013, 12:01 pm

Svein66 wrote:Northeast housing market overheating

http://www.bangkokpost.com/business/new ... verheating

Bad news for the Chinese-Thai property speculators who reserved lots of shoe-box sized condos in Udon hoping to sell them on. A perfect storm is brewing, the winners will be those with cash money waiting to buy cheap, when it all goes tits up.

Post by **Sakhonnick** » October 14, 2013, 12:21 pm

Prenders88 wrote:
Svein66 wrote:Northeast housing market overheating

http://www.bangkokpost.com/business/new ... verheating
Bad news for the Chinese-Thai property speculators who reserved lots of shoe-box sized condos in Udon hoping to sell them on. A perfect storm is brewing, the winners will be those with cash money waiting to buy cheap, when it all goes tits up.

They wont re-sell any cheaper, have you ever thought maybe the buyers have the cash and will simply sit on it and rent them out?

I would not of bought one if I could not afford it and also I can sit on it empty if I don't find a renter, the worst that will happen to me is I spend around 1.4million after furnished and I have it as a room to stay when in Udon, Ive wasted 1.4million on a stupid swimming pool before, ill get more use of a condo than a pool that's all I know, and if it never gets built I risk 5,000month up to 100,000 till its complete, balance paid on completion

Post by **bumper** » October 14, 2013, 5:34 pm

I got more time the money. An emergency by a seller can result in much lower prices.

Thai's don't seem to get motivated until that happens

Post by **darrenm** » October 20, 2013, 8:36 am

So that covers both sides of the coin. So when will Udons bubble birst?
Will interest rates rise in Thailand or drop in the future?
Will the start of tapering impact prices?
Will the tapering weaken the BAht?
Or will cheap Japanese Yen keep the bubble going for longer than it should?
If the the bubble bursts, will condos asking prices drop?