How we judge a fair price on Koh Phangan
On an island without a public price index, "fair" is something you build, not look up. Here is how we value a Phangan property — three lenses, the data behind them, and a tool to try it yourself.
Vladimir Buryi · Founder, Right Way Phangan
15 June 2026
Phangan has no public price index, and no two plots are alike, so "is this a fair price?" cannot be answered by a glance. We build the answer the same way every time, through three lenses.
1. Comparable sales
What have similar plots and villas actually sold for — adjusted for the things that move price on Phangan: district, access, view, tenure, and land document. Asking prices are opinions; closed sales are evidence, and we weight the evidence.
2. Income
For anything that can be rented, the price has to make sense against what it can realistically earn. Rental yield is a discipline against overpaying for a view — see our note on realistic rental yield.
3. Replacement cost
For built property, what would it cost to buy comparable land and rebuild today? When the asking price runs far above replacement, that gap needs a reason.
Price per rai is the anchor
Land trades on price per rai, and that number swings hard with location, access and view — the price-per-rai guide explains why. Leasehold and freehold are valued differently again.
Try it yourself
Curious what your own property might be worth? Our valuation tool runs a first-pass estimate from the same logic. For a buyer, the takeaway is simple: a fair price is one that three independent lenses agree on — not the one on the listing.
Key points
- With no public price index, a fair price is built from three lenses: comparable sales, income, and replacement cost.
- Closed sales are evidence; asking prices are opinions — we weight the evidence.
- Land trades on price per rai, which swings with district, access, view and tenure; leasehold and freehold value differently.
- Try a first-pass estimate with our valuation tool, then pressure-test it against rental income and replacement cost.
General information, not legal or investment advice. Every plot and deal is fact-specific — independent due diligence is part of every transaction we handle.