The land prices in Thailand have increased over the last couple of years as the demand for real estate in Thailand has also increased. The high demand comes from the growing population in Thailand and the fact that more and more foreigners seek to buy land in Thailand. It’s essential to understand the local real estate regulations in Thailand regarding foreign land ownership, such as being aware of how much it costs to buy land in Thailand.
How much is the cost of land in Thailand?
The average cost of land in Thailand ranges between ฿ 5.23 million ($146,440) and ฿ 33.9 million ($949,200). Land prices in Thailand vary depending on the area and location. In some places, such as Bangkok, land prices are higher than in other, more rural areas.
Overview of the land prices in Thailand
Thailand is a vast country, so land prices in Thailand differ greatly depending on the area or city you’re looking to buy land. In the table below, you can find an overview of the land prices in Thailand, such as Bangkok, Phuket, Chiang Mai, Pattaya, and more places.
Land prices in Bangkok
The average land price in Bangkok is ฿ 26.01 million ($728,387), while the average price per square meter is ฿ 82,450 ($2,309). Over the last 12 months, the land price in Bangkok has seen an annual growth of 48%. The median rent price of land in Bangkok is ฿ 50,850 ($1,424).
Land prices in Phuket
The average land price in Phuket is ฿ 33.82 million ($946,997), while the average price per square meter is ฿ 36,404 ($1,019). Over the last 12 months, the land price in Phuket has seen an annual growth of 30%. The median rent price of land in Phuket is ฿ 20,000 ($560).
Land prices in Chiang Mai
The average land price in Chiang Mai is ฿ 6.43 million ($180,136), while the average price per square meter is ฿ 11,215 ($314). Over the last 12 months, the land price in Chiang Mai has seen an annual growth of 30.5%. The median rent price of land in Chiang Mai is ฿ 31,880 ($893).
Land prices in Pattaya
The average land price in Pattaya is ฿ 17.16 million ($480,383), while the average price per square meter is ฿ 22,424 ($628). Over the last 12 months, the land price in Pattaya has seen an annual growth of 19%.
Land prices in Ko Samui
The average land price in Ko Samui is ฿ 7.82 million ($219,081), while the average price per square meter is ฿ 18,684 ($523). Over the last 12 months, the land price in Ko Samui has seen an annual growth of -21%.
Land prices in Udon Thani
The average land price in Udon Thani is ฿ 5.24 million ($146,650), while the average price per square meter is ฿ 3,284 ($91.95). Over the last 12 months, the land price in Udon Thani has seen an annual growth of 51%.
Land prices in Krabi
The average land price in Krabi is ฿ 9.26 million ($259,163), while the average price per square meter is ฿ 7,088 ($198). Over the last 12 months, the land price in Krabi has seen an annual growth of 44%.
Land prices in Surat Thani
The average land price in Surat Thani is ฿ 7.81 million ($218,814), while the average price per square meter is ฿ 18,248 ($511). Over the last 12 months, the land price in Surat Thani has seen an annual growth of -19.5%.
How can foreigners buy land in Thailand?
Foreign nationals face restrictions in directly buying land in Thailand due to governmental regulations prohibiting foreign land ownership. However, an exception exists for those willing to make a substantial investment of ฿ 60 million ($1.68 million), which grants the privilege to acquire 1 Rai (approximately 1600 square meters) of land. Despite these limitations, prospective foreign buyers have alternative avenues for property acquisition in Thailand, such as engaging in a leasehold agreement. Land prices in Thailand also vary based on the way it’s bought; leasehold land is mostly cheaper than freehold.
Other costs to consider when buying land in Thailand
Aside from the land prices in Thailand, there are several additional costs to consider when buying land in Thailand, including:
- Transfer fee: Land buyers must pay a transfer fee of 2% on the land’s registered value.
- Agent’s fee: When using the services of a real estate agent or legal agent, an agent’s fee is paid. This can be a percentual or fixed fee, depending on the agent or agency.
Buy land in Thailand with Own Property Abroad
Do you want to buy land in Thailand? Let Own Property Abroad be your trusted guide through a seamless property transaction. With our profound knowledge and firsthand experience in Thailand’s real estate market, we provide support with legal matters, land finding, negotiation, and thorough due diligence.
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Frequently Asked Questions (FAQs)
How much does a Rai of land in Thailand cost?
The cost of a Rai of land in Thailand can vary significantly based on location, ranging from a few hundred thousand to millions of Thai Baht. Land prices in Thailand are higher in urban or tourist areas.
Is Thailand cheap to buy land?
Relative to some Western countries, the land prices in Thailand can be less expensive. However, costs are rising, especially in popular cities and coastal regions.
Can foreigners buy land in Thailand?
Foreigners are generally prohibited from directly buying land in Thailand. They can invest significantly (e.g., ฿ 60 million ($1.68 million)) for limited ownership rights or alternatives like leasehold agreements.
One Response
Hi, I would like to find out (as a guide) the pri e of 1 Rai of land outside of Phanom Sarakham, we have been offered the land next to my wife’s house in order to build a better house. The land has no commercial value, no crops can be grown or business created on the land, at the moment it is purely scrub land, but as a farang, I would like to get an idea of how much the gentleman may be expecting to get for the land. Any guidance would be very welcome.
Regards.
Paul