Department of the Eastern Economic Corridor (Special Economic Zone in the provinces of Chonburi, Rayong, Chachoengsao) said that the average working capital in the housing market in the district was over ฿100 billion per year, and over the past 10 years, more than 50,000 housing projects have been implemented with an accumulated investment value of over ฿135 billion.
There is a growing number of real estate investors in this area, both large and small, especially local investors. As a result, the real estate market is expanding at a rate of at least 20% per year, while the share of low-rise housing has increased from 60% to 80%.
Meanwhile, the share of condominiums and hotels has fallen from 40% to 20%, as residents' needs have changed after the COVID-19 pandemic. Buyers want more spacious housing and need a working space at home.
20,270 new units are expected to be launched in 2022, an increase of 51.9% compared to last year.
These are the places with the most attractive projects in the Eastern Economic Corridor region:
- Jomtien. The number of residences is 7,671. The project cost is ฿35.6 billion;
- Pattaya - Pratamnak Hill. The number of residences is 5,254 units. The project cost is ฿29.5 billion;
- Laem Chabang. The number of residences is 1,901 units. The project cost is ฿3.5 billion;
- Si Racha. The number of residences is 1,443 units. The project cost is ฿4 billion;
- Map Ta Phut. The number of residences is 831 units. The project cost is ฿2 billion.
The Eastern Economic Corridor is a target area for large investments. In the next 5 years, from 2023 to 2027, investments in large projects of both the public and private sectors will amount to more than ฿2.2 trillion.
The population is projected to increase to 4.42 million in 2027, while the demand for new workers is also growing.
The Eastern Economic Corridor remains one of the fastest growing regions in the country with great prospects.