Land prices in Korat

My partner is Thai and has been living with me in the UK for over 10 years. She has 3 rai of land in Korat and is considering selling it. The land is approx 5 km east from the town centre and about 1km south from the Phet ma Tu Kla road (226). The land is not subject to flooding and has been used for farming in the past, it is perfectly level. Many small housing developments and I believe a college have been built in the area so it seems to be an up and coming location.

As she hasnt been back to Thailand for several years and doesnt know much about the property market there, she has several questions I hope someone can help answer:-

- what is the going rate per rai for land in Korat? Obviously this depends on the location and as this is 5km out of town and away from the main road, I guess it would be less than a central location, any ballpark numbers would be usefull.
- can anyone recommend a good land agent in Korat? I dont know how property transactions work in Thailand so we are wary of being ripped off and would like a reliable company
- What is the state of the property market in Thailand? The UK market is in the doldrums so I wondered if it is the same in THailand?

All info welcome :)

Does the land have any frontage on a main road? No

Is there electric already in place?

Water or well or nothing?

If not, it is probably not worth much at all.

Farmland in Isaan can be had for 30,000 a rai in someplaces, slightly higher in others.

You are best to hold onto the land, you will never know what happens to you and your family in the future or to Thailand

Selling it for a low price, the going price, is probably not a good idea

5 rai of farmland, if you had rice, would only yield about 85 or less 35kg bags of rice selling for 600-700 baht each (previously) or 51,000 thb a year (less plowing, cutting, seeding, labor etc.)

So not a value for farming and finding someone that wanted a residence out there might be a stretch

Get your partner to navigate this web site for other people using land in that area. Simple to use , just fill in the relevant blanks :

????? ?????????? ??????????? - DDproperty.com | ??????? ?????????? ????????????? ??????? ???????????

Do you have papers on the land - chanote or title? Can you give directions to the land? My wife, Janyaporn deals in real estate in and around Korat. Does she have a family member or trusted friend here who could show the land? I think you can get a better answer that way.

Thanks for the answers everyone, this has helped us get some idea of what to do next.

My partner has the land title in her name and family in the area so Ceburat1 thanks for your offer, I will PM you with the details

The land does not have water or electricity, it is not activley farmed though I believe it was used to grow casava a few years ago. There is road access and the main road 226 is about 1km away. There are other new housing developments nearby as well as a college, apparantly the government has plans to build a new main road nearby so this may help increase the value.

Quote:

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Originally Posted by Ceburat1

Do you have papers on the land - chanote or title? Can you give directions to the land? My wife, Janyaporn deals in real estate in and around Korat. Does she have a family member or trusted friend here who could show the land? I think you can get a better answer that way.

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That is good to know. Can you pm your contact details. We may make a purchase in Korat in the future.

Ceburat1 can you pm me your contact details, as IM a new member I cant send PM's until I have 20 or more posts

Ceburat1- can you please ask your wife the approximate value of land (2 rai) on the main road within 1km of Tesco in Korat? I realize it will be a 'best guess' on her part.

Quote:

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Originally Posted by FailSafe

Ceburat1- can you please ask your wife the approximate value of land (2 rai) on the main road within 1km of Tesco in Korat? I realize it will be a 'best guess' on her part.

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Land in Korat on the highway within 1 km of Tesco is approximately 18,000,000. up.

Land just out side of Korat on the same highway going towards Don Kiewn(pottery village) but close to the new Tesco is in the range of 6,000,000. and up.

The side road off of the highway and the highway form a corner of the new Tessco parking lot. Tesco faces the highway About 10 km away from the highway closer to town the land goes for approximately 900,000 per rai.

All estimates above are per rai. Land prices vary greatly depending on elevation and other factors here, same as anywhere. In my eight years in Thailand I have lived just outside of Korat for five of them. I use to live in the jungle and I loved it. Today on the highway it is getting more like the city. A good investment area if you have some cash. Beware even tho most areas of Korat do not flood, some do. With so much flood in other parts of the country, Korat might become the area of choice for industry and living.

Thanks a lot for that.

I'm actually not looking to buy- my wife inherited two rai earlier this year in a pretty good spot and I wondered what they might be worth (I don't know Korat at all). We'll be leaving it on the back-burner for a couple of years while we pursue other projects, but I'm happy to hear that it's probably commercially viable- maybe we'll develop it eventually.