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Land prices in Issan

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  • Land prices in Issan

    Is anyone noticing land prices in issan, going way beyond there value.?

    Have returned home a few days ago and being told that land prices are selling for stupid prices around yasothon, is any seeing the same where you live?

    The Baac bank are supposedly calling in loans from next year anyone heard this?

    Thanks for any info.
    Who are you to judge the life I live?
    I know I'm not perfect
    -and I don't live to be-
    but before you start pointing fingers...
    make sure you hands are clean!”
    Bob Marley

  • #2
    Yes,

    I was told a small plot near my house is going for 600,000. I think it's two ngan -- about the size of a tennis court.

    And this is out in the sticks.

    But I don't believe much of what I'm told anymore.

    People who spread rice out to dry on the roadside tend to be serial liars.
    Last edited by Texpat; 12-09-2014, 05:54 PM.

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    • #3
      It has been the trend for the last 10 years or so. But people are still buying like mad.

      Are there no real estate agents in Thailand that do a property market analysis that is accurate or do they just wing it when figuring the prices?

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      • #4
        I'm told you can go to the land office and request to see the prices of land parcels sold recently in the vicinity. Expect to pay for this "service." Best to pull up on an old Honda Wave wearing your rubber sandals and straw hat. Leave the Foreskinner at home.
        Last edited by Texpat; 12-09-2014, 06:50 PM.

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        • #5
          Originally posted by Jackthelad View Post
          Is anyone noticing land prices in issan, going way beyond there value.?
          Not only in Issan... I have been wondering about the economics of this trend. Many in our area (Nan) are still hoping to sometime get paid the legal minimum wage, yet land prices have surged at a silly rate, how can they pay for it?
          Oh, and there's no development which would justify the speculation, fried noodles from the shed on the 2 million tiny plot by the main roadside still sells for 40 Baht.
          “Don’t get sick of me just yet, for I will be here for quite a while”

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          • #6
            Its pretty mind boggling i could understand if Yaso was near any of the borders of Laos or Cambodia or Vietnam.

            My wife it seems attended a chanote handover to see if it was true and she saw 1 million baht exchange hands for 5 rai, of what i would say is not in a prime position.

            Asian community is around the corner, though surely the speculators are assuming to much?

            We have someone it seems wanting to buy are plot of land of 1 rai, which is on a main road leading to the village, for 500,000 baht when we get the chanote papers in jan 2015, it makes me happy but very confusing, if it came of we will have tripled the money.
            Who are you to judge the life I live?
            I know I'm not perfect
            -and I don't live to be-
            but before you start pointing fingers...
            make sure you hands are clean!”
            Bob Marley

            Comment


            • #7
              Prices are getting crazy in Roiet area. This site is a good indicator of prices all over the country.



              http://www.ddproperty.com/en/propert...max_longitude=
              Whenever you find yourself on the side of the majority, it is time to pause and reflect.

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              • #8
                2 points I would make here, prices bandied around and actual prices sold.
                Wife has 5 rai for sale 50k out of udon she has had several offers and several "sales" most of the "Sales" never actually eventuated although she seems a to have one that should come to fruition, in that her sisters daughter is expected to marry and as part of the dowry is her 5 rai for 600k. but she expected 700K and at various times she thought she had a sure sale at 700, but I kept telling her its only a sale when the money is in your hand.
                So are prices going up or is it just BS?

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                • #9
                  It's a typical Thai reaction.

                  Banks want to collect arrears or take land back as surety. The typical Thai response is to try to sell the land at an unreasonably high price to forego this bank-grab.

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                  • #10
                    PH now that's what i can't understand if BAAC are calling in there loans as I've been informed there's going to be a lot of land available via the banks, so i would of thought the speculators would wait for the land grab to start.

                    This is what I have been told, this year the bank will let them pay off the interest, though outstanding debts will have to be paid in full next year, has anyone heard this?



                    Originally posted by Panama Hat View Post
                    It's a typical Thai reaction.

                    Banks want to collect arrears or take land back as surety. The typical Thai response is to try to sell the land at an unreasonably high price to forego this bank-grab.
                    Who are you to judge the life I live?
                    I know I'm not perfect
                    -and I don't live to be-
                    but before you start pointing fingers...
                    make sure you hands are clean!”
                    Bob Marley

                    Comment


                    • #11
                      A housing bubble in the making perhaps?

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                      • #12
                        A housing bubble in the countryside of issan.? are the Bangkok elite going to come live here with the peasants.
                        Who are you to judge the life I live?
                        I know I'm not perfect
                        -and I don't live to be-
                        but before you start pointing fingers...
                        make sure you hands are clean!”
                        Bob Marley

                        Comment


                        • #13
                          Its a possibility, Bangkok is built in the mouth of the natural drainage off the korat plateau, so it always going to suffer periodic flooding as it did last year when the residents of the big mango had floods up to their nut sacks.
                          Did we get any flooding in Udon? No! my nut sack remained in its pristine state.
                          So the Bangkok inhabitants and will continue to put up with their watery fate, witch will get worse as the effects of global warming become more evident, as will the stupidity of building in a low lying location.

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                          • #14
                            The other thing going on in Roiet is well heeled locals are building homes within 50km of Roiet city. Commute to city for work. Expect same in other provinces.

                            Let's not be fooled there is plenty of big money Isaan folks. Not all poor peasants as the media and politicians lead us to believe.
                            Whenever you find yourself on the side of the majority, it is time to pause and reflect.

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                            • #15
                              Norton perhaps i should of posted the elite living with the underlings.
                              Who are you to judge the life I live?
                              I know I'm not perfect
                              -and I don't live to be-
                              but before you start pointing fingers...
                              make sure you hands are clean!”
                              Bob Marley

                              Comment

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