--September
7, 2004 -- ---So
how much is LAND anyway?????---
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
editor:
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. That being said, it 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. Point
being; you really need to watch it on area selection.
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 (1 kilometer) 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
---Is using a company
expensive? ---
Surprised you went the company ownership route to ownership
given the legal expenses and on-going auditing costs. Can
you let me know how much you spent and are spending with
this route. -- Rob
editor:
Actually, in the site I don’t actually
specify the legal setup for this house. This is something
that is dependent on each person and each project. However,
for those going the company route, legal expenses run about
20k for setup and ongoing about 15k – 20k per year.
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