Buying Land in Koh Samui, Thailand: An Investor’s Guide
Samui, Thailand’s charming second largest island, is suitable for both vacation and real estate investment. Its natural beauty, rich culture and burgeoning real estate market attracts investors from China, Malaysia, Russia, the UK and the US.
With its pristine beaches, lush greenery and developing infrastructure, Koh Samui is an ideal place to build resorts, villas or private residences.
- How much is land for sale in Thailand?
- Types of land for sale on Koh Samui
- Price range and influencing factors
- Can foreigners own land in Thailand?
- Construction potential and development opportunities
- Who should invest in land on Samui?
- Practical advice for Samui land buyers
- Khanom is a new location for investors in Thailand
1. How much is land in Thailand worth?
Land prices in Thailand range from ฿5.23 million ($155,802) to ฿33.9 million ($1.01 million). These prices are influenced by factors such as region, proximity to the city and specific location. For example, land costs are higher in Bangkok than in rural or less developed areas.
Thailand has 76 provinces divided into 6 regions, so land values vary widely.
Below is an overview of prices in popular areas such as Bangkok, Phuket, Chiang Mai, Pattaya and other areas to give investors an idea of the range of land values.
Land prices in Bangkok
In Bangkok, the average land price is ฿26.01 million ($774,952) and the cost per square meter is ฿82,450 ($2,456). Land prices here have increased by 48% over the past year. The median cost of renting land is ฿50,850 ($1,515) per month.
Land prices in Phuket
The average land price in Phuket is ฿33.82 million ($1.01 million) and the median rate is ฿36,404 ($1,084) per square meter. Over the past 12 months, land prices in Phuket have increased by 30%. The median monthly land rent in Phuket is ฿20,000 ($596).
Land prices in Chiang Mai
The average land price in Chiang Mai is ฿6.43 million ($191,652) and the cost per square meter is ฿11,215 ($334). Land prices have increased by 30.5% over the past year and the median rental price is ฿31,880 ($950) per month.
Land prices in Pattaya
The average land price in Pattaya is ฿17.16 million ($511,093) and the median price per square meter is ฿22,424 ($668). Over the past year, land prices in Pattaya have increased by 19% year-on-year.
Land prices on Ko Samui
On Koh Samui, the average land price is ฿7.82 million ($233,087) and the cost per square meter is ฿18,684 ($557). Unlike other areas, land prices on Ko Samui have fallen by 21% in the past 12 months.
2. Types of land for sale on Koh Samui
Beach Land
In demand due to the direct access to the beach and sea views, these factors are suitable for luxury resorts and villas.
Such plots are in demand in areas such as Chaweng, Lamai and Bophut where there are many tourists. Due to the limited number of plots and high investment potential, coastal land tends to be more expensive than other options on the island.
Land in the hills
Hilltop properties that offer panoramic ocean views and privacy are another popular choice on Samui. Areas such as Chaweng Noi and Maenam are known for attractive hillside plots that provide a tranquil environment suitable for building luxury villas and boutique resorts. This type of land allows investors to build exclusive villas away from noisy beach areas. Few people know that the southern parts of the island, such as Taling Gnam, have land with stunning views and no development. Check out our video overview.
Inland Lands and Garden Plots (Flat)
Plots often located away from the coast in the quieter and more central areas of the island tend to be more affordable. These plots are ideal for those looking to build private homes or residences amidst the lush tropical landscapes of the island. Properties in the interior of the island are an affordable option to enter the Samui real estate market.
3. Price range and influencing factors
An important consideration is access to land. There is a rule in Thailand that private property must be accessed from a public road. In this case, the land owner needs to negotiate with neighbors who are not always willing to negotiate.
Before buying land, be sure to request an easement from the neighbors – this is a document that describes the limited right to use someone else’s property in land relations.
Beachfront Land:
Сosts from $1 million to over $5 million, the cost depends on the neighborhood, the size of the plot, how accessible the beach is for swimming in the year and an important point is the area and building height restrictions.
The beach itself is owned by the king, and if your villa is right on the beach, you will always see tourists walking around.
But there are exceptions (e.g. the Banyan Three KOh Samui, Four Seasons Resort and The Ritz Carlton hotels, which have bought out the land around the beach, thus limiting the access of strolling tourists).
Be sure to read it: Key Regulations for Beachfront Construction
Hillside lots with ocean views:
$200,000 to $2 million, with steeper slope lots more affordable.
Most challenging land with many factors ranging from topography/geodesy, which is important to consider when buying:
- visual inspection of the site (boulders-large rocks on the ground)
- road access
- elevation restrictions (zoning) are only checked in tosoban as there can be multiple zones (green, red, yellow) on one plot.
- elevation from sea level
- hill slope
- how adapted the site is to the rainy season in Thailand
Inland Lands:
Economical, ranging from $50,000 and up to $500,000, depending on proximity to roads and infrastructure.
- Access to the site is important to watch, neighbors
- Building regulations. Zones of what can be built.
- watch flooding in the rainy season
4. Can foreigners buy land in Thailand?
Foreigners cannot directly purchase land in Thailand due to restrictions imposed by the Land Code Act. Therefore, foreigners have to use indirect ways to own land:
- Lease Agreements: Foreigners can lease land for up to 30 years, with an option to renew for two additional 30-year terms.
- Thai Limited Liability Company: Establishing a Thai company with predominantly Thai capital allows foreigners to legally control the land through the company structure.
- Investment in condominium projects: Foreigners can own condominiums, provided that no more than 49% of the entire project is owned by foreigners.
5. Construction potential and development opportunities
Private villas or luxury estates:
For long-term residence or rental.
Eco-friendly resorts:
Utilizing tropical landscapes to benefit an environmentally conscious audience.
Multi-use residences:
Involving the construction of residential and commercial spaces, to utilize the entire land area.
Areas such as Bophut and Choeng Mon have seen an increase in high-end development. While quieter areas such as Taling Ngam offer budget options.
6. Who should invest in land on Koh Samui?
- Families and retirees: Seeking a quiet lifestyle with rental income.
- Entrepreneurs: Interested in the tourism or hospitality sector, looking to establish hotels, residences or wellness centers.
Digital nomads and remote workers: Attracted by Samui’s laid-back atmosphere that promotes work-life balance.
7. Practical advice for land buyers on Koh Samui
- Use local experts: A local agent or lawyer familiar with Thai real estate law can help you avoid costly mistakes.
- Study zoning regulations: Learn about building height restrictions, environmental protection and other zoning laws.
- Evaluate infrastructure: Water, electricity and road access are critical to development and affect property values.
- Do not buy a plot without a Thai architect.
8. Khanom
With the constant rise in land prices in popular tourist centers of Thailand, investors are starting to look for new locations for investment. Khanom has a clean beach, beautiful nature, accessibility to international airports will become a new point of attraction for tourists.
We have recorded a full video review of this location and talked about the advantages of this province, where the cost of land is lower.
If you are planning to build a mini-hotel, apartment complex, or buy land to build your own villa for living or renting? Consider this location!
