Land Valuation in Korat

[FailSafe]

The wife just inherited 2 rai in Korat in the city (within a km or so of Tesco)- the most similar piece of land I could find a valuation for is a couple of years old, and showed 45K per talang wah- does anyone local have an idea of what land there is going for now? It's right on the main road and in a pretty nice spot (so I've been told, at any rate).

I'll probably be making a trip up there in a month or two to check it out.

[superman]

You might get a better responce on www.koratfarang.com

[FailSafe]

I did see that forum, but I'm not joining it at this point- if anybody here knows, that would be great- I've been doing a bit more research (with a Thai assistant so I can check out the sites aimed at locals rather than expats) and it looks like 50K-60K is in the ballpark for land with commercial value in the city.

Whatever it's worth it's got to go on the back-burner as I have other stuff going on, but it was a nice piece of good news today (though we will miss the woman who originally owned it).

[dirtydog]

Ask at the land office is the easiest, have to pay tax on purchase price.

Or you could ask at KoratFart.com - Nakhon Ratchasima and Isaan Forum for Art, News & Culture - Index

[FailSafe]

The land office assessment is ~14mil for the plot (any taxes/fees are coming out of the estate at any rate), but their valuations aren't always in accord with reality- I just wondered if any locals might have an idea- I know a bit about Bangkok, Samui, Ratchaburi, and Chiang Mai, but not Korat.

No offense to the folks registered on either of the other sites mentioned, but I have a feeling that higher-end land is not their area of expertise...

[somtamslap]

The land office assessment is ~14mil for the plot

Sounds about right if a little on the low side..prime piece of land in a fast developing city..not a bad little inheritance that.

[FailSafe]

Yeah, it's a nice piece of security.

There is a 100-day gap between the passing and the reading of the will (it's a Chinese thing, apparently- they're Thai-Chinese)- we had really forgotten about it- it was a very nice thing for her to do.

The previous generation (my wife's parents, aunts, and uncles) got the real prime stuff- nice plots in BKK that are worth a fortune (not that I'm complaining...)- they're all fairly well off and will just hang onto it, perhaps leasing it out or building on it- we'll probably do the same (it's just that I know absolutely nothing of Korat, and will have to spend some time learning the area, and it will be a while before I can work that out).