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Feedback – How much is Land?

feedback from David

An excellent site you have certainly made a good job of putting together this information. I intend also to build a house around Pattaya, starting in 2005, and have a few questions that you could maybe answer. Firstly, how close to Pattaya is your development and secondly where did you find you building plot and what approx was the cost per tw?

By the way I have completed a number of similar developments in New Zealand, but that is another story. David

This project is about 5 or 6 kilometers on the other side of Sukumvit, opposite side from Tesco, south. The finding of land is a very critical point, a lot depends on how close you want to be to Pattaya, since outside Pattaya there is basically an endless supply of land. The area that this project is in is getting heavy development and is very popular, I’m not altogether sure why, but development feeds on itself, there are many large developments going in around here (and many built before such as Paradise Villa 2 – multi-luxury homes). The land around this project has been running around 2000 tw, I just bought another piece for 200,000. Up the road there is a subdivision where the developer has put in a nice road, that is going for 2m per rai which seems overpriced, but it is adjacent to the main road which boosts the price. There is some other land around here I’ve looked at for about 750,000 rai, but there is a 6 rai minimum. As you get closer to Sukhumvit in this immediate area the cost goes up exponentially. A friend bought 300 tw for 1.6 million (same area as this, close to Sukhumvit) but today it would cost about 3m. A developer just bought 100 tw for townhouse development for 1m, she is also an agent so that shows you the price is probably right. Oh, and by the way the friend who did the 300tw developed apartments has sold 14 out of 16 prior to finishing the project! It’s just crazy bubble mania! If one is looking to build a house and resale value isn’t really a factor and you don’t have to be that close to Pattaya there are some real nice areas. I just know from reading adverts, but think a rai, could be had for about 200,000. If I wasn’t worried about resale (which I am), I would have built elsewhere. Also, another hot area is around the big reservoir, marbachan, it is a little ways out but is very popular and resale would be good. I think it is over pricey, with a rai over 1m or so depending on view, etc. It is overly pricey in my opinion — because there is a lot of land available and it is far from Pattaya. This is a good area for a mega-house. There is a smaller reservoir here, I looked at one plot of land with no view, but nice needing no fill dirt and OK road access a 1 rai 1 gnan plot was about 700k. As I looked around more I got the feeling that this is one of those ‘not so popular’ areas as someone had subdivided 10 plots of land right on the water and hadn’t sold one. There were still signs of many developments which went South around there. As long as we are on the subject of land – I might as well bring up land cost ‘closer in’. Around the beach in Jomtien it is about 10m per rai. As you get out a bit it goes down to about 6m per rai. There is a lot of available undeveloped land in Jomtien, and it is all really expensive. Pattaya proper of course would be really expensive and wouldn’t really be suitable for building a house anyway. 1 rai = 4 gnan = 400 tw


Recent Update: This reader was looking for land in naa glua for around 6,xxx baht per tw in a good location 500 meters or so from the beach. He mentioned that a 100 tw plot ideally located on the beach was 10 million baht (ouch!) and there were other plots further in for about 8,xxx – 10,xxx baht per tw.

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