Property in Thong Nai Pan

Property and land

Property Resources Land Market

Companies:

Articles:

Prices:

  • 1 rai of land 3 - 4 mill THB
  • 2 bedroom villa: 6 - 9 mill THB
  • 3 bedroom villa: 10 - 17 mill THB

The market for buying land in Thong Nai Pan boomed between 2005 and 2008. The cost for a rai of land (1,600 square meters) jumped from 500,000 Thai Baht to 4 million Thai Baht.

 

The soaring land prices at the time was a result of a general property boom around the world, and also the ambition of local estate agents. As prices rise so land looks like a good investment.

 

In 2008 the Global Financial Crisis rocked the world. People became cautious with their money and in 2009 the ambitious Sitara Village project in Thong Nai Pan collapsed.

 

Now the dust has settled the land market is operating under a different set of dynamics. The land office is now more reticient about issuing new title deeds. The speculators have moved elsewhere, and prices are no longer rising.

 

People living in the area continue to buy and sell land, and build residential houses in the area.

 

The only big development is Thong Nai Pan Estates in Yai. They have completed a few small villas. The company is offering land sales as well as off-plan builds. The web presence of this company is a bit confusing. They appear to have 2 websites. We have only listed one of them.

 

Green Island Leisure have built their first villa. It was originally called Achala House but is now called Sunrise Villa. It is currently a successful rental property.

 

One of the most recent developments to get off the ground is Tarn Pravate Waterfall Villas. It is a 4 villa project near the waterfall in Noi. They have completed the first unit - a 5 bed villa. For more information see the link on the left.

 

There are a few other properties that have been built in both Thong Nai Pan Noi and Thong Nai Pan Yai.

 

Finally, it should be mentioned that it is impossible to find beachfront land for sale. This is virtually the case all over Koh Phangan. Beachfront land is usually on yearly leases to businesses. All the land for sale in Thong Nai Pan (and there isn't much) are sea view and jungle plots.

Property

People have thought for years that Koh Phangan would follow Koh Samui and become a property hotspot. For a moment in 2007 it almost appeared to be the case.

 

Now in 2016 the Koh Samui property market is slowly recovering. The same is true of Phuket. Thong Nai Pan is no different

 

Thailand is an attractive country to live in, but living costs are rising, especially for foreigners. The interpretation of property law remains inconsistent. These factors among others have reduced demand in Koh Phangan and elsewhere in Thailand for property. Besides many people prefer to build their own house rather than buy one.

 

Set against the negatives mentioned above, is lifestyle. Having a villa in Thailand, and especially in Thong Nai Pan is a dream come true . It is like having a place of your own in paradise.

 

Over the last few years a few private villas have been built in the hills over looking Thong Nai Pan bay. Some have also changed hands.

A few Suggestions

Here are a few points to consider before you decide to buy land or property in Thong Nai Pan

  • Use a good mainland or Koh Samui lawyer. Check all title deeds. Due diligence is essential
  • Take legal advice about whether to buy a lease or a Thai company holding land or property as an asset
  • Don't expect a quick re-sale. It can take many years to sell assets in Thailand
  • Condominium laws don't apply in Koh Phangan
  • The risks of buying off-plan property are much higher in Thailand than in Europe
  • Consider the visa laws