EEC land prices soar as 3 foreign investors drive Q1 2025 sales to 47 billion baht

EEC sees booming land prices, REIC reports 47 billion baht in Q1 2025 sales with Chinese, Japanese, and Singaporean investments in factories and real estate.

The Eastern Economic Corridor (EEC) has become a vital economic hub and investment centre for Thailand, initially driven by Prime Minister Prayut Chan-o-cha’s government. Officially launched in 2018, the EEC focuses on large-scale infrastructure investments, including the high-speed rail linking three airports (Don Mueang, Suvarnabhumi, and U-Tapao) and U-Tapao airport acting as major investment attractors.

The Eastern Economic Corridor Policy Committee (EECPC) is now pushing to amend the high-speed rail project contract to connect the three airports. The revised agreement is expected to be approved by the Committee and Cabinet in August, with construction slated to take 3-4 years, including the installation of signalling systems. The project is projected to be operational by 2029.

Progress on U-Tapao Airport has faced setbacks due to the rail project’s delays, but the EECPC has made decisions to unlock the project for private sector involvement, allowing further development.

Despite delays in these two projects, private sector investments continue in industrial estates and factories, leading to a demand for housing projects, both low-rise and high-rise, as land prices steadily rise.The Real Estate Information Center (REIC) of the Government Housing Bank (GH Bank) reports significant growth in land prices in the EEC in Q1 2025. This reflects a surge in property development driven by foreign investment, which reached 47 billion baht, a 31% year-on-year (YoY) increase. 

Major investors from Japan, China, and Singapore are seeking land for both residential and industrial projects in the area.

Among the EEC provinces, Rayong saw the highest growth, with its land price index rising 43.5% YoY to 259.2 points, driven by production base relocations and infrastructure readiness. Chonburi followed with a 33.6% YoY increase to 468.4 points, supported by growth in the residential market, particularly in Pattaya. Meanwhile, Chachoengsao experienced a 13.5% decline to 161.0 points, reflecting a slowdown in land demand for residential projects.

The top five locations with the highest price changes were Bang Lamung, Chonburi (+126.5% YoY), Si Racha, Chonburi (+88.6% YoY), Ban Khai, Rayong (+47.9% YoY), Mueang Chonburi (+33.5% YoY), and Pluak Daeng, Rayong (+11.2% YoY).

The EEC's economic potential, serving as a hub for industrial estates and key tourist destinations, has driven industrial growth and employment, attracting both Thai and foreign workers. In the residential sector, the number of units and value saw a slight decline of 0.8% and 0.5%, respectively, YoY, mainly due to the end of property stimulus measures in December 2024. 

However, the reduction in residential project licenses and land allocations is expected to reverse in 2025, with government measures such as the 260 billion baht economic stimulus and the "You Fight, We Help" program boosting market recovery.

In 2025, it’s estimated that transfer volume will rise by 2.4%, and project investments in land allocations and housing construction are expected to grow by 22.7% and 2.5%, respectively.

(2025/07/10-00:00)