Does anyone have any experience in investing in land in the Hua Hin/Cha-am areas? I'm not looking to build, but rather buy land from Thais desperate to sell and then turning around and re-selling it. Is there anyone out there currently doing this, and if so, would you be willing to give me (and others who might be interested in doing this) some of your insight?
I actually overheard a guy in a restaurant in Cha-am talking to his Thai wife about some land they had purchased and re-sold. Hence, after reflecting later on what was said, the purpose of this quest for information. Besides, I can't see my investments in America recovering from their hard hit losses anytime in the near future.
Land Investment Hua Hin/Cha-am
Wow... You want to try to make money from something you seem to know very little about in a time of crisis where land is more likely to lose value than gain it.
Thailand is in a middle of a political crisis that will most likely see many tourists shun the country. Developers are not likely to be buying new land for projects when there are plenty of unsold units and little chances of making money soon.
On top of it, foreigners are not allowed to own land outright although there are ways around it but there's still a factor of risk whichever method you choose to use.
It seems like a dicey strategy to me but I guess it's your dime. Best of luck...
Thailand is in a middle of a political crisis that will most likely see many tourists shun the country. Developers are not likely to be buying new land for projects when there are plenty of unsold units and little chances of making money soon.
On top of it, foreigners are not allowed to own land outright although there are ways around it but there's still a factor of risk whichever method you choose to use.
It seems like a dicey strategy to me but I guess it's your dime. Best of luck...
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loverboy44
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Put away the legal side, there will be always people who like to test out the existing law, there is an oversupply on land that wants to be sold. Nearly every Thai in Hua Hin who had some money bought land. Ask someone and you will be busy looking for land in Hua Hin for 2 months every day. If they don't own the land they are land dealers who put their comission on top of the price per rai, so you will hardly know what is the market price. It only makes sense if you want to start a real project and have in your mind where the land should be and what it will look like when finished. Anyway very, very risky for a foreigner.
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Baby Thunder
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BT
Do your homework thoroughly .The market price is of course what somebody is prepared to pay but the best indicators are what the locals are actually paying to each other .Finding this out can be difficult if you do not have good connections .Be discreet in your enquiries or you will have more peices of paper being waved at you than a busy day on the stock exchange .Many of them duplicates at different prices .The banks often have auctions and you can pick up some bargains if you know what to look for .When someone claims to be the owner they should be able to show you the original title deed and their ID card matching the name on the back .Some may keep in a safe deposit box and be reluctant to travel to show you without a deposit paid .I would simply offer to cover their expenses and assure them that if it is what they say it is I will pay them in full at the land office upon transfer .Although I never have I would consider putting a deposit down to secure but would do so only through a lawyer .I would not put a deposit on land that had debt against it .The debt can be cleared at the land office in cash once you have the deeds in your preferred name .I have done this in the past and the process went smoothly .As you are looking to flip the land for a profit you may be tempted by offers of reserving the land for a period of time in return for a deposit .I will let others comment on the potential pitfalls of such arrangements .
I hope this is of some use to you and wish you the best of luck
Crazy 88
Do your homework thoroughly .The market price is of course what somebody is prepared to pay but the best indicators are what the locals are actually paying to each other .Finding this out can be difficult if you do not have good connections .Be discreet in your enquiries or you will have more peices of paper being waved at you than a busy day on the stock exchange .Many of them duplicates at different prices .The banks often have auctions and you can pick up some bargains if you know what to look for .When someone claims to be the owner they should be able to show you the original title deed and their ID card matching the name on the back .Some may keep in a safe deposit box and be reluctant to travel to show you without a deposit paid .I would simply offer to cover their expenses and assure them that if it is what they say it is I will pay them in full at the land office upon transfer .Although I never have I would consider putting a deposit down to secure but would do so only through a lawyer .I would not put a deposit on land that had debt against it .The debt can be cleared at the land office in cash once you have the deeds in your preferred name .I have done this in the past and the process went smoothly .As you are looking to flip the land for a profit you may be tempted by offers of reserving the land for a period of time in return for a deposit .I will let others comment on the potential pitfalls of such arrangements .
I hope this is of some use to you and wish you the best of luck
Crazy 88
There has been a lot of development in Hua Hin over the past few years. But there is still a lot of vacant land. So unless you know that someone will be interested in building then that land could stay vacant for many years with no one even remotely interested in buying. It’s way more risky then the US stock market is at the moment. It’s not too difficult to find under valued companies that are paying high dividends.
There has been a lot of development in Hua Hin over the past few years. But there is still a lot of vacant land. So unless you know that someone will be interested in building then that land could stay vacant for many years with no one even remotely interested in buying. It’s way more risky then the US stock market is at the moment. It’s not too difficult to find under valued companies that are paying high dividends.
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Baby Thunder
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Baby Thunder
I agree with the advise about the timing on buying land. But if you are interested I have a 404 wah block (1600m2) that I would like to sell. It is a corner block on a lake in Palm Hills golf course. Includes a lifetime membership.
If you haven't been to Palm Hills take a look, it is a nice area and building is still going on.
PM me if interested.
Norm
I agree with the advise about the timing on buying land. But if you are interested I have a 404 wah block (1600m2) that I would like to sell. It is a corner block on a lake in Palm Hills golf course. Includes a lifetime membership.
If you haven't been to Palm Hills take a look, it is a nice area and building is still going on.
PM me if interested.
Norm
BT, making a quick return on land has been put on hold due to global recession and IMO prices will not pick up again for a good few years, but it will as Hua Hin is still a popular destination with a decade plus of future development. Land was going up 50% a year and the like a few years back but that's over.
It's a good time to buy land though as long as you can wait a while, Thais are possibly, finally dropping asking prices a bit, the new land we recently got we got down from 1.2M a Rai to 1m. Two owners were willing to drop this amount the rest weren't prepared to reduce their asking price.
Get decent land (ie: with title, infrastructure, access roads and not subject to flooding) upto 8kms from town and it'll be a good investment IMO.
SJ
It's a good time to buy land though as long as you can wait a while, Thais are possibly, finally dropping asking prices a bit, the new land we recently got we got down from 1.2M a Rai to 1m. Two owners were willing to drop this amount the rest weren't prepared to reduce their asking price.
Get decent land (ie: with title, infrastructure, access roads and not subject to flooding) upto 8kms from town and it'll be a good investment IMO.
SJ
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Baby Thunder
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SJ, Thanks for the input. Would you mind letting me know which area you recently bought land at? Was talking to a Thai lady who speaks very good English in Cha-am, she recommended buying land in the Nong Ta Pot area due to the forthcoming Beer Chang guy's project whose land extends just a couple of km away. She added that the municipal head of Cha-am (Owner of a successful development in the same area I was informed) had already purchased a large amount of land in the area. In addition, she said that land prices were still realistic, as long as you let a Thai go in and do the talking, in regards to doubling your investment in the next few years. But like people have said, with the economic crises, who knows when the owner of Beer Chang will actually start breaking ground. I did take a drive out to Nong Ta Pot and it is quite beautiful with some very scenic mountain views. Does anyone own land in this area or knows anyone who does? Thanks for everyones's input on this issue of land investment.
