EEC land prices surge in Q1 amid strong foreign demand

The land price index in the Eastern Economic Corridor (EEC) provinces rose by 24.9% in the first quarter of 2025, marking the fifth consecutive quarterly increase, led by Rayong, where the index surged 43.5% due to strong foreign investment in the industrial sector.

- KANANA KATHARANGSIPORN

According to the Real Estate Information Center (REIC), the index for undeveloped land in the EEC stood at 332.2 points, up 24.9% year-on-year and 2.6% quarter-on-quarter.

"This increase reflects the continuing rise in land demand in the EEC, driven primarily by growing foreign investment," REIC's report noted.

Data from the Department of Business Development shows that foreign investment in the EEC was worth approximately 47 billion baht in the first quarter of 2025, marking a 31% year-on-year increase.

The Japanese topped the list of foreign investors in the EEC, followed by the Chinese and Singaporeans.

This influx prompted developers to accelerate the building of residential projects to accommodate both Thai and foreign workers relocating to the region. As a result, land prices in the EEC continued to climb steadily.

Rayong posted the highest year-on-year increase in land prices at 43.5%, together with a 27.3% quarter-on-quarter rise, bringing the index to 259.2 points.