#  >  > Living And Legal Affairs In Thailand >  >  > Farming & Gardening In Thailand >  >  Is it a good time to buy rice/farmland.?

## Chico

Rice prices hit 10 year low.

Banks are chasing loans.

Haven't really followed anything recently,so any info helpful.

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## Pragmatic

Yeah, go for it.   ::chitown::   :Roll Eyes (Sarcastic):

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## cyrille

Loads of it being bought up around CM. I'm back every couple of months and every bicycle trip is getting less and less picturesque. 

One of my favourite routes now has a fookin waterpark being built on it.  :Sad:

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## crackerjack101

> Loads of it being bought up around CM. I'm back every couple of months and every bicycle trip is getting less and less picturesque. 
> 
> One of my favourite routes now has a fookin waterpark being built on it.


But if they continue developing the value of your house will look good. 
Then you can sell it and move up north where all the nice people live.  

 :Smile:

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## cyrille

It has crossed my mind.

Then there's always Myanmar and Laos...

 :Smile:

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## thaimeme

Regardless of the invented stagnant manner which has enveloped the agricultural sector, farming land is still skyrocketing - obviously, varies from region to region.

Depending on the market/locale - B300,000 - B450,000/B500,000 per rai.....

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## MikeyLikesU

Wish I could buy.

Last thing I read, only a Thai can do that.  Maybe I will marry one and have her buy it. 

Not thinking of signing away a few million to my girlfriend, either.

I take it the OP is a happily Married man....Congrats. Lots of foreclosures in the NorthEast.

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## crackerjack101

> I take it the OP is a happily Married man....Congrats.


Nope, he's a clown.

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## crackerjack101

> Depending on the market/locale - B300,000 - B450,000/B500,000 per rai.....


and up.
up a lot.

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## rickschoppers

I could have bought, in my wife's name of course, 14 rai of nice farm land a month or so ago for 140,000 baht per rai. I paseed. There will be plenty of opportunity to purchase land in the futue if you have a Thai connection.

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## crackerjack101

> 14 rai of nice farm land a month or so ago for 140,000 baht per rai


Good deal. Whereabouts ?

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## rickschoppers

Outside Udon Thani towads Nong Bua Lamphu.

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## cyrille

> and up.
> up a lot.


Like x10

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## thaimeme

> Originally Posted by thaimeme
> 
> Depending on the market/locale - B300,000 - B450,000/B500,000 per rai.....
> 
> 
> and up.
> up a lot.


Yep - surely is up where you are....so I've heard.

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## crackerjack101

> Outside Udon Thani towads Nong Bua Lamphu.


OK Cheers.

Up here in Chiang Rai it's not uncommon to hear of folk asking a million per rai.

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## crackerjack101

I'm not saying they get it but that's what the ask for. If they don't sell they just keep farming it.

A lady offered my wife just under 1/2 a rai, with chanot, for 500,000 2 weeks ago.

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## Luigi

> Is it a good time to buy rice/farmland.?


It's always a good time if there's a foreign clown paying.

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## crackerjack101

> Wish I could buy.
> 
> Last thing I read, only a Thai can do that. Maybe I will marry one and have her buy it.


Rent, mate, rent. for as long as you can, or at least until you feel as sure as you can in your relationship.

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## cyrille

Yeah we rented for a decade.

Much to be said for it.

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## crackerjack101

> Yeah we rented for a decade.
> 
> Much to be said for it.


Yup, so did we. Initially down south, didn't like that, moved north rented for about 2 years I think and then finally bought.

Happy as now, but could easily have continued renting without any problems.

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## Luigi

Who was the poster that was going to buy a house in Hua Hin, but rented it for a year first.

After 6 months the neighbor bought all the surrounding land and opened a large pig farm.  :Smile: 

After 7 month months he packed up and had to move away from the noise and the stench.



It wasn't one of Daffodil's early nics was it?  :Smile:  Was about 5-6 yrs ago.

Remember the poster building in CM 5 or so years ago using a reputable Thai company  :Roll Eyes (Sarcastic):  He ducked in unexpected and they were using some fake cement, not the stuff in the contract. The whole thing collapsed in on itself before they finished the first floor, no legal recourse (thailand), cost him about 1/2 mill I think which was his down payment and first few monthly payment. 

Maybe it was Fluke.  :Smile:

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## Luigi

> Yeah we rented for a decade.
> 
> Much to be said for it.


Why didn't she buy a house instead of renting for 10 years?

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## can123

> Why didn't she buy a house instead of renting for 10 years?


It's cheaper to rent. Can get a nice house for the equivalent of thirty years rent, so better to have money in the bank until one snuffs it.

We will rent while renovating a house we already own. Money in the bank is one's best friend.

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## Chico

can when you moving here.?

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## baldrick

how much rent does chico pay each month

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## Overherewa

> Originally Posted by jamescollister
> 
> Farangs are simply not allow to own or control the use of land outside of BOI investments.
> 
> 
> Jim, in the event of a wife dying a farang can inherit land for a period of no longer than 12 months. The land has to be either then sold/transfered to a Thai.


Sorry to butt in .... can you then sell
It to a proxy company that you kind of own ?

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## Overherewa

> Originally Posted by jamescollister
> 
> Farangs are simply not allow to own or control the use of land outside of BOI investments.
> 
> 
> Jim, in the event of a wife dying a farang can inherit land for a period of no longer than 12 months. The land has to be either then sold/transfered to a Thai.


Sorry to butt in .... can you then sell
It to a proxy company that you kind of own ?

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## jamescollister

> Originally Posted by jamescollister
> 
> Farangs are simply not allow to own or control the use of land outside of BOI investments.
> 
> 
> Jim, in the event of a wife dying a farang can inherit land for a period of no longer than 12 months. The land has to be either then sold/transfered to a Thai.


Nothing is that clear cut, laws of inheritance are complex, you may be able to inherit and sell the land.

If you have signed your claim away at the land office, then other heirs have a claim first, children, yours or from a previous marriage, parents, brothers and sisters, etc.
It would end up in court if there was any dispute, a will may be of some use, but the will must be considered legal under the inheritance rules.


Overhere, all the schemes to control land by an alien are illegal, land act is plain.
The director general of the lands department may confiscate any land, without a court order, if he believes it an attempt to circumvent the landownership laws.

People do all these schemes and most get away with it, but if it turns to shit you will be running for a plane, as giving false information to a government official is a criminal offence.

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## thaimeme

> Originally Posted by Pragmatic
> 
> 
> 
> 
> 
> 
> 
>  Originally Posted by jamescollister
> ...


Easier to sign off to one's children....

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## jamescollister

> Easier to sign off to one's children....


Yep, if you have kids put the land in their name, can't be touched without a court order until they are 20 years old.
If you don't have kids, give the land to some poor kid, or a friends kid, build your house or what ever, die and the kid gets it when they are 20.

If you live too long and have sent birthday and Xmas presents to the kid over the years, doubt they would throw you out.

Know a few guys out my way, married Thais with kids, they raised them and the wife died, kids inherited the house, none have thrown out the stepdads, not the Thai way.

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## Chico

Good reference point here covers everything.

List of Terms - A

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## Luigi

> Luigi you will be happy to know I/My wife will make 230,000 baht on an outlay of 170.000 baht.


Pretty poor as you've had no income off it during that time.

Factor in that you've no idea who owns, what it is, or anything else other than it was you who paid for it, and .... well.... we won't be calling you Chico Buffet quite yet.  :Smile:

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## Chico

:rofl:  how much you make again on your luxury condo,wasn't it 8%according to my calculations (let me stress my Wife) not I has made 57.5 % per year. not bad really for raising the land and making SFA per annum.

I do realise she may well do a runner with the money,whilst I'm away. :Smile: 





> Originally Posted by Chico
> 
> 
> Luigi you will be happy to know I/My wife will make 230,000 baht on an outlay of 170.000 baht.
> 
> 
> Pretty poor as you've had no income off it during that time.
> 
> Factor in that you've no idea who owns, what it is, or anything else other than it was you who paid for it, and .... well.... we won't be calling you Chico Buffet quite yet.

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## Luigi

> how much you make again on your luxury condo,wasn't it 8%according to my calculations (let me stress my Wife) not I has made 57.5 % per year. not bad really for raising the land and making SFA per annum.


8 and 10% p/a.

If I sold that one now it would get double the price I bought and decorated it for.

Over 2 years that 220% or 110% p/a.


Plus I know who owns it.... me.  :Smile: 

And what it is... a condo that I own.  :Smile: 


Sell up the scrub that no one knows who owns and get in bud. 

Buy used, buy empty, research, lowball, and use yer head, have fun.

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## Chico

I'm happy with that,saves me changing money on the new pad. :Smile:  that I won't own either. :Smile:

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## Topper

While I might not be the sharpest tool in the box.....




> What I know as of now is that I've haven't signed anything though did sign the other papers when we bought/ but didn't buy as it was given as a present to wife.
> 
> it was bought under my name.


So did you pay for the land, meaning did the money come out of your earnings and you don't know what you signed?

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## Luigi

> So did you pay for the land, meaning did the money come out of your earnings and you don't know what you signed?




 :Smile:

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## Chico

I collected 200 when i passed go





> While I might not be the sharpest tool in the box.....
> 
> 
> 
> 
> 
> 
>  Originally Posted by Chico
> 
> ...

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