Chinese Firms Drive Land Price Increase in EEC

The Eastern Economic Corridor (EEC) is witnessing a significant surge in land prices, primarily due to the relocation of manufacturing bases by Chinese companies. According to the Government Housing Bank’s Real Estate Information Centre (REIC), the price index of land before development in the EEC area for the fourth quarter of 2024 reached 323.9 points, marking a 26.4% increase year on year (YoY) and a 9.1% increase quarter on quarter (QoQ).

Provincial Breakdown of Land Price Increases

Chonburi province led the surge with a price index of 447.6 points, a 47.8% increase YoY and a 19.7% increase QoQ. Rayong and Chachoengsao provinces also saw increases, with Rayong at 203.6 points and Chachoengsao at 197.7 points, indicating a steady rise in land values across the EEC.

Impact of Chinese Investment and Government Support

The influx of Chinese investors relocating their production bases to the EEC has been a key driver of this trend. The establishment of the government’s All-Service Centre in Amata City Industrial Estate, Chonburi province, has further facilitated this movement by streamlining the process for obtaining permits and licenses, thereby supporting the setup of manufacturing bases in Thailand.

Areas with the Highest Price Increases

Among the districts within the EEC, Klaeng district in Rayong recorded the highest increase at 92.3% YoY, followed by Banglamung and Si Racha in Chonburi, with increases of 50.6% and 47.6% respectively. Plaeng Yao in Chachoengsao and Phanat Nikhom in Chonburi also saw significant rises, highlighting the widespread impact of Chinese manufacturing expansion on land prices in the region.