What are current common prices for rice paddy land?

Stargazer

Stargazer

Surin Legend
With the exchange rate currently unusually beneficial for Americans, I'm considering buying my wife some rice paddy land adjacent to ours in order to have more room for buildings and road. Our rice paddy land has no irrigation available, and is not adjoining a road, which I think puts it in the lowest price category (I'm told that if you adjoin a paved road, you can build a house easily, so the price is highest) We're out in the very rural area near Rattanaburi, our village is 'Ban Khok Kong' about one hour drive from Surin City. Maybe second highest price is if the land is adjacent to an irrigation canal so you can raise 3 rice crops a year instead of our one crop. Can anyone comment on what would be plausible prices per rai currently?
 
Mel Malinowski said:
Thanks. It's hard to dig up comps here, or at least I don't know how to do so. Sorry: what does 'a serious build on it' mean?
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I dont have photos But this parcel in a swamp. It's basically connect ours.. They put in seriou drainage to take water away. Then had a 4 foot concert wall built to inclosed the 6.5 rai. The have built a proper house and a greenhouse and put in a 6 inch well.
 
Mel Malinowski said:
Cheaper than farm land in USA, but relatively expensive given the wage rate here. I doubt that it is economic to buy and grow rice at that price.

But it's not easy to make a profit farming in USA either :smirk: and that is not my expectation
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https://thainews.prd.go.th/en/news/detail/TCATG190620163254648

According to this the average rice farmer in Thailand earns 75,000 baht after expenses.

I realize for most the work season is only four months a year but given the investment and the risk I don't see rice farming as a money maker.
 
georgefromcanada said:
https://thainews.prd.go.th/en/news/detail/TCATG190620163254648

According to this the average rice farmer in Thailand earns 75,000 baht after expenses.

I realize for most the work season is only four months a year but given the investment and the risk I don't see rice farming as a money maker.
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I kept a log of all expenses growing rice for the last 3 years. The amount spent always came out equal to the amount returned, the only thing that made the difference was the agriculture subsidies. That amount alone kept you in the black. It truly is a mugs game. Mind you, if you factor in labor the subsidies will pay for that, so you come out flat broke with no profit. At least you have rice to eat for the year. Most farmers told me that's why they do it, AND "We have always done it that way"
That stat by the way is truly full of IT! Poor farmers get further in debt each year to grow it. Where the spiral ends I just don't know. It seems to just keep going. I have no idea how.
Nobody cares about the suicide rate of Thai farmers. The kingdom has the highest suicide rate in Southeast Asia, at 14.4 per 100,000 people, according to the World Health Organization. I believe its way higher.
 
I'm trying to figure out how to estimate the value of rice paddy land, which varies considerably depending on whether it is buildable (adjoins a road with power and water supply), or near irrigation water. I'm being asked to loan money on 7 rai that does produce rice well, but has no road, electricity or water. Two forum members mentioned 400,000 THB and 550,000 THB for about 7 rai. In USA, it is easy to look up 'comp' (comparable) sales prices to build a comparison. I assume that if someone goes to the bank to borrow on land, they estimate the value of the land and only lend a fraction of that for security. Any suggestions about how to come up with an appraisal that means something? I realize it's a slippery topic, but you just cannot accept family fantasy ideas about what their property is worth.
 
Mel Malinowski said:
I'm trying to figure out how to estimate the value of rice paddy land, which varies considerably depending on whether it is buildable (adjoins a road with power and water supply), or near irrigation water. I'm being asked to loan money on 7 rai that does produce rice well, but has no road, electricity or water. Two forum members mentioned 400,000 THB and 550,000 THB for about 7 rai. In USA, it is easy to look up 'comp' (comparable) sales prices to build a comparison. I assume that if someone goes to the bank to borrow on land, they estimate the value of the land and only lend a fraction of that for security. Any suggestions about how to come up with an appraisal that means something? I realize it's a slippery topic, but you just cannot accept family fantasy ideas about what their property is worth.
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550,000 THB. This was cash. A lot of land in my area does not haves a title. The banks will not loan on it.
 
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