so hard to get real market data here......was speaking to a thai friend who had recently purchased a small block up in the north east of the island...not a 'prime' block. he said over dinner that he paid $6m/rai....which he didn't! he said there is no value in saying that you got a bargain....you always say you paid the 'going rate' which apparently at present is $6m there, no matter what you paid. and no matter what the quality of the site.
Why?
because you don't want to bring the price down.....the whole market (he said) is based on the most recent rumour of who is ASKING what for their land. Apparently it is rarely based on an actual sale price. So asking prices will jump significantly in one street because they heard that some else in another street is asking a higher price.....not getting it mind you...just asking it.....and so the wheel turns. and everyone perpetuates it because they say the sale they got was the mythical figure that everyone is now asking.....even if it was 1/4 of it.
another guy has told me 3 different prices that he paid for his land 2 years ago.....each time he told me it went up to match the current going/asking rate.
so all in all it's hard to know for sure what's going on.
but i guess if the government has put out figures they must be correct
