Land Prices in rural Isaan are going through the roof.
We had a Thai lady that owns a massage business in Germany just pay 5,500,000 thb (US $171,875) for 5.5 rai of rice field on the main road. That comes out to 1,000,000 thb (US $32,000) per rai.
5.5 rai is equal to 2.17 acres; so almost US $85,000 an acre.
This land is on the main road right outside the village and has a distance view of the mountain.
The bad news is the level of the land is 10′ below the surface of the road and will need to be filled and leveled to prevent flooding.
Filling that land that deep could cost up to another 1,000,000 thb, if they have to truck in all the dirt.
Electric will have to be run and there is also NO water so a well will have to be dug.
Things that seem to be pushing the price of land high here, are being on the road where many start businesses in their front yards to take advantage of the traffic and the mountain view.
But the villagers all seem to think the price is ridiculously high for rice field.
Once the precedence is set for that price, others feel they can get the same price as well.
There is no negotiating prices either, as owners will just let it sit at that high price forever.