Sirindhorn Dam, Ubon land prices continue to soar
David Barrett
MICE Consultant, Marketing Strategist and digital video advocate. Founder of DBC & Partners | Everybody has a story to tell. Let me tell yours
The price of prime waterfront land surrounding Sirindhorn Dam reservoir in Ubon Ratchathani has witnessed healthy increases in Q4, 2017.
At Latis we have been monitoring land prices at Sirindhorn, Ubon, for several years and witnessed another bumper year for property prices in 2017.
Based on high-end purchases in 2017, land in the highly-desirable Sirindhorn Dam district, and along the Mekong River, is now selling for THB 3,000,000 per rai. That’s a 17 percent increase on last year.
Prices in Ubon city and rural agricultural land that do not benefit from a waterfront location were not experiencing the same double digit increase. It is still possible to buy agricultural land in less desirable areas in Ubon for around THB 50,000 per rai.
Two years ago, land prices surrounding Sirindhorn Dam jumped significantly with the anticipation of increased cross border trade from the ASEAN Economic Community (AEC). As Ubon is strategically located along the economic corridor, AEC optimism fuelled investment and demand.
The stellar performance of land prices was not just as a result of demand for the area and economic growth, but also because of the increase in residential and commercial development projects in the area.
Land prices surrounding Sirindhorn Dam were climbing faster than other areas in the province, possibly as buyers were eyeing profits in the land trade business. However, despite the rapid increase in prices over recent years, the cost of purchasing land remains low compared to other waterfront real estate in Thailand – making Sirindhorn Dam more attractive to investors.
Ubon’s tourism development will be given a boost in 2019 as TCEB is slated to be earmarking the province for major promotion targeting business events.