Sales of housing in Rayong increased considerably in the first half-year, primarily in the low-rise houses segment, because of the new wave of developing the Eastern Economic Corridor spanning across Rayong, Chonburi, and Chachoengsao Provinces.
Acting General Manager of Real Estate Information Center (REIC) says that low-rise houses in Rayong were selling very well in the first half of the year, especially detached houses and townhouses near industrial areas.
New sales reached 5,146 properties and 13.2 billion baht over this period, compared to 2,581 properties and 6.4 billion baht in the first half of the last year. 87% of sold units were private single-family houses.
4,479 houses worth 11.8 billion baht were sold in the first half of 2022, making it the province’s best performance even compared to pre-pandemic sales.
The number of unsold low-rise houses reduced from 16,244 properties worth 19.4 billion baht in the second half of the last year to 12,975 properties worth 16.8 billion baht in the first half of 2022.
Founder of the Rayong Real Estate Association said that the demand for housing was still fueled by the industrial sector. This year, the market seems to be recovering, as new industrial investors are arriving in the province. The revenue and buying capacity of workers in the special economic zone have improved, hence a surge in housing sales.
Over the first six months of 2022, the approved investment value in the Eastern Corridor’s provinces reached 105 billion baht. More than a half of that amount (59.1 billion baht) was invested in Rayong, followed by Chonburi (30.9 billion baht), and Chachoengsao (15.5 billion baht).