Thread: 100 rai; what to do?

Any suggestions for what to do with a 100+ rai in Chiyaphum?

The in-laws are getting on a bit now, and have stated more than once, that they would no longer be able to work the land. It has mostly been used for rice cultivation and various other in-season fruits and vegetables throughout the year.

I am unable to "help" due to work commitments and my wife lives 400kms away from her mothers. In any case , within 5 years they will move to where my wife is located in further north, leaving the land - vacant.

Any suggestions with what to do with it? Rental potential perhaps?

Whatever suggestions you may have, it ought to be very low-maintenance as we would seldom be there.

Trees.

Rent/lease it out to another Chaw Naa (rice farmer) or other crop grower. Make it worth the taxes you gotta pay on it.

What's the value per rai?

Originally Posted by FailSafe

What's the value per rai?

The land is 5-7 min stroll away from the road. So no major connection. It has electric lines and lots of access to water from wells.

Cost? I just asked and was told around 150,000 -200,000 baht per rai

150,000 per rai were are you? thats a lot of cash for off road land.

If they can actually get 20mil for the plot, they'd probably make more money selling it and living off the 700K or so per year they could get from bank interest than they could ever get by renting it out.

Originally Posted by Yasojack

150,000 per rai were are you? thats a lot of cash for off road land.

Inflation, mate.

I was a little surprised myself, but the local amphur office gave those figures for the location. To be honest, being a 15 min bike ride from town and a short stroll from the main road, it doesn't seem terribly inflated.

I have done some research into land prices and if you were to say that 5-8 years ago, I would agree. But now?

Originally Posted by FailSafe

If they can actually get 20mil for the plot, they'd probably make more money selling it and living off the 700K or so per year they could get from bank interest than they could ever get by renting it out.

Always an option, but the pessimist in me says "it will never sell".

Finding a buying with that kinda cash is unlikely. Selling off in small parcels, perhaps.

How about a shit-load of teak trees? Could visit again in 25 years time (if nobody cut them down and loaded on a truck) and make possibly good return?

Two years ago land around same area was 40,000 baht.

As failsafe says if you can get that price sell it.

if you could buy the land thats in front of it, thats on the road you are a instant billionaire.

You need license for teak unless its changed there are other trees that are fast growing and sustainable

Originally Posted by Yasojack

Two years ago land around same area was 40,000 baht.

As failsafe says if you can get that price sell it.

if you could buy the land thats in front of it, thats on the road you are a instant billionaire.

Are you also in Chiyaphum? The town in question is keng khrao (spelling). Around 40km NE from Chiyaphum proper.

I agree about land on the road. Sadly, it is not quite.

Nevertheless, selling is not a main priority, just an idea in which we (she) can utilise the land and then in years to come when infrastructure expands - sell.

No i'm in yaso i just did a google on land prices and come up with a few prices.

Originally Posted by Yasojack

No i'm in yaso i just did a google on land prices and come up with a few prices.

Yep, me too. I searched using dd property and found a listing a few kms further out from town. Of course, what they want and what they get are two different things, but 1 rai was approximately 270,000 baht.

There was a listing in keang khlo city itself; 18 rai and asking 1 million per rai. This is 5kms away from her family's land.

Unless land is in the ass-end of nowhere, prices are noticeably on the rise. It will be interesting to estimate the land costs 25 years from now with an ever-growing population. But like I said, she doesn't want to sell. I am just looking for any ideas aside from renting?

Casava

^^
Land very rarely goes down. If it does, it is only a little before resuming the upward climb.

If the land is properly titled and all, you could plant it all with some construction/furniture grade bamboo, then sell the carbon credits, and harvest the lumber ever 4-5 years. Bamboo is drought and flood resistant, does not need fertilizer and enhances the soil quality significantly. It is important to choose the proper specie of bamboo not just the local varieties which aren't really suitable for serious construction. Also there isn't too much maintenance necesary after the bamboo is established. Initially you have to keep the weeds and invasive vines from killing the seedlings.
There are a number of experts in the Chiang Mai area who know a bunch about this.

I'd lease it to a rice farmer until you get a buyer.

I think 40% of the rice harvest is the normal payable rent (at least it is around Udon).

Interesting points made.

Cassava, I've been told sucks the ground of almost all nutrients in the soil. Not great for the second yield. Besides, for me, this requires work and attendance.

Bamboo makes an interesting research. Much work involved?

Teak trees idea is positive and licensing is easy enough. Unfortunately, they'd be half inched in a blink of an eye, no Ifs. Looked into that.

Go with Boon Mee and Marmite's suggestions of letting someone you trust or/and care for farm it for you, and sit on the investment. Food prices going up and up, you can't go wrong. Land prices can only appreciate imo.

Got me at it now as I bought a plot each for my 2 sons about 5 years ago. Way off the main road, so not ideally located, between Buriram and Nang Rong, 23 rai combined, half a million total for both....Wonder how much they're worth now.....That's cheered me up.

Good luck with it!

Bruno, if it's rice land, it's rice land, cost a fortune to make it usable for trees.
Cassava, problem you need to get the water out off the paddies again not easy.

As to selling, sometimes what is the alleged value has no relation to the true value.
Thais will say any land with paper is charnot, when in fact it is of lesser title. Some titles do not give ownership, only a right to use, you can not legally sell or rent.

If it really is of real value then it is worth putting in the time and money to get the land fit for other farming uses. Jim

Try selling it through 'Fat Property Asia' or DD property.

natt@fatpropertyasian.com

Our family was successful in selling their land, 15rai in Nakon Nayok.

Originally Posted by Yasojack

I would look at Eucalyptus.

Theres many plantations being stumped recently, even the locals are stumping on the sides of the roads because of silly superstitions, the price has dropped now

The Aussies and Japanese are looking into aviation fuel, the chinese and indians are buying huge amounts from Australia, the price can only rise.

There also seems to be a interest in the timber now, with houses etc being made from them.

I have them on 35 rai, and constantly being approached by buyers to sell, we bought a rai from someone a few years ago for 30,000 that was just euca, we sold the timber a couple of years ago wanting to see what price we would get, and if i remember correctly there was around 100 trees on it and we got 15,000 for the timber.

Bio mass fuel stations are on the rise as well, and many are using Euca

This and bamboo, like another mentioned, are definitely ideas worth considering.

It is also interesting to learn that growing trees where there was once rice paddys is something not easily done; much yet to be learnt.