Crazy land prices.

[parrot]

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?

On Srisuk Rd, just in front of the Bangkok Bank, there's a guy parked on the sidewalk that can give you an answer to all your questions.......for a mere 50 Baht.

[darrenm]

Im the uk. Could you ask him for his email addess?

[Svein66]

Prices of prime land in the 20 northeastern provinces have jumped by an average of 30% in the past year. In Khon Kaen, land prices have increased by 50% and in Udon Thani by 100%.

http://www.bangkokpost.com/breakingnews ... -skyrocket

[papafarang]

just looking at land prices here...... mad is not the word, so i looked on internet at uk land prices, ok most of it you cant build on but some bargains in the uk. then came across this info...
FARMLAND values in England rose by one per cent in the third quarter, with equipped farms averaging £10,300 per acre and bare land about £7,200 per acre... 1 acre = 2 1/2 rai

[nel123]

Yeah they were raving about this on the news last week, good investment if you can afford to sit on it but no good for building.

[glalt]

Here in Loei province, land prices are crazy. No way could anyone ever make enough farming to pay these prices. The first ten rai my wife bought cost 18,000 baht per rai. That was about ten years ago. The second ten rai cost 20,000 per rai. A year ago or so, she bought 16 rai for about 80,000 per rai. She recently bought another 16 rai for about 100,000 per rai. I thought she was insane paying that much. Now she has people coming to see her that want to pay more than 100,000 baht per rai. Keep in mind that none of this property is on the electrical grid. I doubt that you could buy a building lot with water and electric for less than 500,000 baht per rai. Many are asking much more than that.

The question is, when will the bubble burst, or will the bubble burst? The wife thinks that if the prices do go down that the average price she paid per rai will still be higher than what she paid.

[glalt]

ADDED - All these plots of land have chanotes. She refuses to buy any land unless it has a chanote. She also actively farms all of this land.

[papafarang]

the chanote thing is the only way to buy land here, ok if your going to build on it, but how do you get a return on farm land, rice is a no no, all the other crops are down in price too .land in the uk has many different rules, had a mate got himself a small farm cheap, turned out it had a few old barns, so he erected a few more on it. after a couple of years sold off parcels of land to other farmers so he just had the farmhouse and buildings, then had the land re-classified as it was not big enough to farm anymore, then put in to convert barns and stables. took him years to get it done,and i guess he spent quite a bit on lawyers too.but made big money in the end.
but here farmland has very little chance of making money, if you get enough land and use machinery you will get a return in the end, but even farm land is hitting record prices

[glalt]

We are still living in a two bedroom house that is built on a slab. It wasn't the best construction job and has a lot of cracks in the walls. She had that house before we married and have been talking about building a new house. Since the last land purchase, that is now out of the question. She plans to have the land bank mortgage paid off sometime next year. Whether I will ever live long enough to see a new house is another question.

She decided that the land was a better option than a house. When I am dead and gone she will be able to make a living off the land and a new house would make her nothing. Since she works her little butt off, I told her that it was up to her. Even though she has been putting up with me for over ten years, I still refuse to spend more than I can comfortably afford to walk away from. I still have my Jomtien condo and could sell it and build a house. I am just not willing to give up my security blanket. I'll always have a roof over my head and for sure won't miss any meals.

[Drunk Monkey]

I think land prices all over Thailand are going up rapidly ,,, some provinces seeing crazy increases others more moderate .

Going back 15 years i bought (for the wife) 20 rai of farmland 20km outside Buriram , paid 8,800 bt per rai and it was full of Ucalyptus trees which we cut down n sold roots n all which returned a proportion of the outlay ,,, still keep in touch with the ex and she tells me the same land now is going for 100k minimum per rai some roadside plots 400-500k per rai....and i would not recognise the area now as its full of new modern houses ....gone are all the wooden and tin sheet places .

I recently called in at the Udon planning office to enquire about any new builds of interest that were in the pipeline , this was to try and find a good location for an up coming venture , the folks there were great and actually we were informed where the next few 7/11 s will be located and hence forth secured a lovely spot slap bang opposite one of them . The boss lady in the planning office also commented on the crazy land prices currently being paid in the Udon area especially for small building plots ,,,, then told me she had 60 rai on the ring road for sale did i want it ... 2 mil a rai .. over 2 million quid 5555 no thankyou ..

Cant see the current trend changing any time soon .

DM

[croc]

And the English say us Convicts can not Spell

DM it is Eucalyptus.

[Drunk Monkey]

And the English say us Convicts can not Spell

DM it is Eucalyptus.

Well done croc you spotted my deliberate mistake , actually a typo as i missed the E off .......well semi deliberate i used the the Latin spelling .. do you know Latin croc ? more accurately crocodilious horribillous .

DM

[747man]

And the English say us Convicts can not Spell

DM it is Eucalyptus.

Croc, So yer did'nt know he is Eliterate....

[Earnest]

Cant see the current trend changing any time soon .

DM

Land prices fuelled by credit, Arkwright? Is it another property bubble that us Brits are so crazy about? If so, it's got to burst soon.


I missed you after you left UM.

[croc]

Yep, forgot he was from Scunny

[Drunk Monkey]

From Scunny n proud to say so croc , once visited NEVER FORGOTTEN .....

Back to crazy land prices ...it appears after Grimesby Towns sad loss in the play offs yesterday to Gateshead the local council are thinking of putting the Blundell Park pitch to better use ........ growing potatoes , sad part is already over 100 locals have bought season tickets as they think it will be more exiting watching em grown than the footie ..

DM

[jackspratt]

I missed you after you left UM.

Hmmm! ............. do you have your U's confused Ernie?

[747man]

I missed you after you left UM.

Hmmm! ............. do you have your U's confused Ernie?

That's Westers All Over, Jack....

[Earnest]

Hmmm! ............. do you have your U's confused Ernie?

Gosh, I think I did. This is Udon Map, right?

[Svein66]

Property boom continues in regions

The survey found that Chiang Rai, Phitsanulok, Udon Thani and Hat Yai – all situated in border trade zones – had rapidly growing condo markets and most projects were launched last year.

http://www.bangkokpost.com/most-recent/ ... in-regions