PRICE OF LAND

[GEOFFREY]

Hi all i have been offered a small piece of land approx 8 kilom from buriram

 Its been filled already got some banana trees growing  size approx 60 ft frontage area 1620 sq feet
or i was told 96 sanwa asking price 500.000  bart
it has road frontage water and electric
is this a fair price any Ideas appriciated
I was thinking maybe steel frame with insulated wall 2 story house for a economic  build

[Prakhonchai Nick]

If 1620 square feet it has a depth of around 27feet  approx 9 metres.
 No way is it 96 tarang wah.
Going rate for agricultural land in the area is 200/250,000Bht a rai (1,600 square metres)

You have been asked a Farang++++ price. Reject!

[Starman]

Approx 8km from Buriram, in what direction? Frontage onto what road?

[smoooth2]

GEOFFREY .... as Prakhonchai Nick has pointed out, the dimensions of the block of land you've quoted (1620 sq feet) are 20m x 9m = 180 sq m = 45 talang wah

Go outside into your soi and pace off 20 steps long by 9 steps wide.

If you do this stepping out proceedure, you'll see it's a tiny block of land.

Without knowing exactly where the land is, IMHO it does seem very very expensive.

[Starman]

As mentioned by smooth, and myself, it is important to know the location.

My wife and father in law own a largish piece of land 9kms from Buriram. There is frontage but only onto an unadopted road and 1km from the main Buriram - Nang Rong road. The prices of land have been going silly this side of town as people try to get a foot into the development that has been going on. My father in law was recently offered in the region of 1 million a rai.

Land with frontage onto the main road is going for 10 million a rai.

[Jeroen1]

That's a RIDICULOUS high price...   for a very small plot far away....You can get much bigger for that in your area anywhere 8 km away . For 500 K i can buy myself a plot twice that size within the ringroad of the city.....compare it. This sounds wrong
Gl to you

[CO-CO]

150 sqm or 37 tlw.

Putting a 2 storey  house on that may not leave much room for parking any cars, and certainly not much of a garden.

I make that about 5.33m Baht per Rai.

Doesn?t sound a great investment and I might be concerned that the person offering me the ?deal? thought I had ?Farang Mug? stamped on my forehead.

Still, if it falls within Starman?s curtilage I could be wrong.


One of the first jobs on arriving in a Thailand is to take a look here...

https://www.siam-legal.com/realestate/thailand-convert-rai.php

Also, don?t make the mistake I made; land that I paid for had road frontage and electricity. What I didn?t realize was that it was high voltage and I had to instal a transformer to step down for domestic use. Pushed my budget up by 200k.....

[Freddy]

I live at Non Tacrong which is a small village approx 5 km outside Lam Plait Mat so just rice growing fields all around and no real development prospects in the anywhere near future. There is a plot of land next door to us which I wanted to buy when I moved over 4 years ago. Frontage is approx 20 metres and plot is approx 100m deep so around 2000sqm.
I offered 150k when I arrived which was initially accepted and a decent price for the seller. Next day price asked increased to 200k. I reluctantly agreed because I wanted the land. Three days later price increased to 300k. I said P**s off as clearly an attempt to take advantage of Farang.
A couple of months ago a friend visited and was interested in the plot. My wife went and asked how much for the plot. Owner stated 1.2million.
This doesn't in anyway help with your situation Geoffrey other than to reinforce the message that currently locals have ridiculously high expectations regarding selling land and those expectations seem to increase further if any Farang is interested.
Also be aware that when setting the asking price Thais tend to go high because they like to be able to tell others that they have land worth an amount regardless of whethervtheybcan actually achieve that price.

[iammike]

+1 @Freddy.

Friend of mine wanted to buy land a couple of months ago in the same village as I am living now.

Found some land for sale, his GF asked the price 300.000 THB per rai (total of 5 rai), he declined it.

Wife found out last week that the same land was sold for 100.000 THB per rai to a Thai !!

The land our house is on is direct on the Main Road (Village access though ) has electricity (no need for expensive transformers etc and we paid 75.000 THB per rai around 7-8 years ago.

[GEOFFREY]

HI ALL SORRY IF LATE GETTING BACK BUT HAVING PROBLEMS LOGIN ON

from what i can re member i paced out 20 yards frontage on the road  by about 36 yards depth   
lady said 96 talang wah not understanding Thai to good    
i have a copy of papers and according to misses its 96 what ever similar to sang or talang wah   
the land  is approx 3/4 kilometre off main rd approx 10 minutes from Robinson   
cant give exact location as i do not know   
their are  a few other houses nearby    
but faces rice fields its not a main rd  just a concrete village rd  at the front
has elec pole with meter for h/ next door   s
does this help value a little bit  asking 500.000 bt   looking  at conversion chart  looks about  384 sq meters approx

[iammike]

@Geoffrey

1 Rai = 40 x 40 Meters thus 1600 SQM (Square Meters)

You want to pay 500.000 THB for 384 SQM, that would make the price of 1 rai (500.000 / 384) * 1600 = 2.083.000,- THB for 1 rai.

VERY EXPENSIVE or Paeng Mark !!

Edit: Does it need Landfill ?? Or let me rephrase that, is the land lower then the road ? If so add another 100-200k to raise it.

[smoooth2]

GEOFFREY ... I'm only an interested onlooker, but your figures are all over the shop.

1 - Initially you said it was 1620 sq feet. Now it's 20 yards x 36 yards = 720 sq yards (6480 sq feet)

2 - 720 sq yards = 602 sq m. (Don't know where you get 384 sq m from ?)

3 - 602 sq m = 150 talang wah. (Don't know where your missus gets 96 from ?)

4 - You say you don't know the exact location, but it sounds like you've been there ? Was it dark ?

There are guys on here that could possibly offer helpful info on the value of this land, but your fluid figures and vague location are quite confusing.

[Prakhonchai Nick]

The land was 8km from Buriram..now 10 mins from Robinson.  10 mins by car? Won't get far from Robinson on a weekend in a car in 10 minutes!

Situate in a village with rice fields all around. Suggest price should be in the range of 200/250,000baht a rai (1,600 sq metres)  Anything over 100,000baht based on your revised measurements is, in my opinion, over the top[

[GEOFFREY]

AGAIN THANKS FOR REPLY'S

Ok checked paper and conversion chart on computer 96 tarang wah = 384 sq meters

land has been made up about 2ft above rd level

dist and time to Robinson was by sat nav  usual traffic

not dark when i looked but could not see  a sign in English where i was only a blue spot on google maps in the mid of rice fields

 i appreciate the price per ria farmland

but is this piece classed as being the same as it has water elec and road and has been built up

would it not be priced as building land or are all prices the same please

[Freddy]

Ultimately Geoffrey it depends how much you like the location and it's worth what your willing to pay. The starting price from the seller will always be high. Thais like to be able to tell others they have a bit of land worth half a million purely based on the asking price. ( I know I'm repeating myself but important to note when negotiating).
If you feel that the land is raised sufficiently and ready to build suggest you make offer around 3-350 and take it from there. Certainly don't pay the initial asking price unless you have absolutely got to have it.