Sirindhorn Dam is a north-eastern charmer

Water front land values surrounding Sirindhorn Dam in Ubon Ratchathani, Thailand’s north-eastern-most province, are expected to continue rising at a remarkable rate over the next three years, as real estate prices are still comparatively low to waterfrontage elsewhere in Thailand.

Monitoring local land sales, average land prices surrounding Sirindhorn Dam has risen 27% within the past year alone, with the highest sale ever recorded at 3.2 million baht per rai in Q4, 2017.

Land plots in locations facing onto Sirindhorn Dam reservoir are selling for 70 times that of inland agricultural land just a few kilometres away. Rising demand for waterfront plots has driven prices to over 3 million baht rai.

Some owners last year cashed in on a quick sale, selling for 2 million a rai. However, owners of prime locations at the water’s edge are holding out, as prices are expected to skyrocket after two more years.

Apart from a few very local bungalow developments scattered around the reservoir’s edge, Sirindhorn Dam remains untouched by tourism development. There are no three to five-star hotels at Sirindhorn, as yet, but some developers have been scouting the area as land at THB 3 million per rai still represents a bargain.

The lowest land sale last year, of which we are aware of, was for degraded agricultural land with limited access and no utilities, selling for a knock-down THB 25,000 per rai. This highlights the value of “Location. Location. Location.”

Additionally, only 50% of the land surrounding Sirindhorn reservoir has official chanote title deeds. There’s still a lot of unregistered property that is trading at incredibly low prices. Land prices are rising in value at a faster rate than the homes built on it.

Given that Sirindhorn Dam is on the cusp of major development, there appears to be a lack of any reservoir site preservation policy. This needs to be addressed to protect the environment and local residents.

For information on property at Sirindhorn, Ubon Ratchathani, please contact david (at) thelatis (dot) c o m