Is it a good a time as any to be selling land now?

[swagman]

Just wondering if anyone may be in the know a bit more than my wife & myself with regards to the price of land at the moment?

 

I'm aware that each area & even each village will have it's own dynamics which influence land price, but could anyone tell me their thoughts about the state of current land price in Issan?

 

We are in no hurry for a sale- in fact we had not even planned to sell it.

 

What's happened is as far as we know, a local TG (who is a Mia-Noi to a wealthy Thai man) wants to build a house that must be by the road in our village.

 

Most good sized 'plots' of roadside land have allready been built upon so we know her options are indeed limited.

 

We brought this land back in '98 when we found out any TG who'd married a Falang could now buy some land in her NEW name.

 

We paid 230K for it then + Tax + 4,500B corruption money to the chief land officer. It's size is just over 1 & 1/4 Rai.

 

We have now recieved this suprise offer of 350K, but in order to decide we would like to get a better picture of the market. We're not sure if it is a good time to sell or not - does anyone know?

 

The Xchange rate was then around 63/£ so that's gone in our favour...but is it a 'Bear' market & best to wait a while? or should we snap her hands off so to speak?

Edited June 6, 2011 by swagman

[Cerberus]

Just wondering if anyone may be in the know a bit more than my wife & myself with regards to the price of land at the moment?

 

I'm aware that each area & even each village will have it's own dynamics which influence land price, but could anyone tell me their thoughts about the state of current land price in Issan?

 

We are in no hurry for a sale- in fact we had not even planned to sell it.

 

What's happened is as far as we know, a local TG (who is a Mia-Noi to a wealthy Thai man) wants to build a house that must be by the road in our village.

 

Most good sized 'plots' of roadside land have allready been built upon so we know her options are indeed limited.

 

We brought this land back in '98 when we found out any TG who'd married a Falang could now buy some land in her NEW name.

 

We paid 230K for it then + Tax + 4,500B corruption money to the chief land officer. It's size is just over 1 & 1/4 Rai.

 

We have now recieved this suprise offer of 350K, but in order to decide we would like to get a better picture of the market. We're not sure if it is a good time to sell or not - does anyone know?

 

The Xchange rate was then around 63/£ so that's gone in our favour...but is it a 'Bear' market & best to wait a while? or should we snap her hands off so to speak?

 

Personally I woud hold, thats what 4% per annum. Land in the Mrs Village especially road side which is finite has risen much more than that. The 230,000k has gone and is water under the bridge, unless you are in need I would let it sit a little longer, or, counter her offer with a request for 500,000 and settle at 460,000. Alternatively get the family to go around and try and buy some similar land and see what is being asked for it.

[swagman]

Personally I woud hold, thats what 4% per annum. Land in the Mrs Village especially road side which is finite has risen much more than that. The 230,000k has gone and is water under the bridge, unless you are in need I would let it sit a little longer, or, counter her offer with a request for 500,000 and settle at 460,000. Alternatively get the family to go around and try and buy some similar land and see what is being asked for it.

Thanks for the reply,

 

The family going around bidding or researching the market for us, I think is way beyond them, & everybody in the village will by now know all about the offer so it would be a bit self defeating.

 

Plus that sort of money creates a lot of jealousy which we want to advoid.

 

We agree with you to keeping hold of it for the following reasonings: 1, That it sure is finite.

2, We're not desperate for the cash right now.

3, We doubt it will drop in value as the village is getting bigger all the time.

 

Mothballing it will also keep our options open in the comming years .