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Top 5 locations with the highest price change rates in Q4 2024.
? Credit: Information and Images – REIC: Real Estate Information Center
REIC reported on the “Land Price Index for Undeveloped Land in the EEC Area, Q4 2024”, revealing a 26.4% year-on-year (YoY) increase and a 9.1% quarter-on-quarter (QoQ) rise. The land price index for Q4 2024 stood at 323.9 points.
? This rate of increase is significantly higher than the pre-COVID-19 average (2015–2019), which showed an average quarterly growth rate of 14.0%.
? Key Drivers Behind the Land Price Increase in the EEC:
✅ Industrial sector growth leading to expanded infrastructure development.
✅ Rising demand for land from property developers to support residential projects for both Thai and foreign workers moving into the area.
? Land Price Changes by Province:
? Chonburi Province
⏩ Land Price Index: 447.6 points
✅ Highest increase in the EEC area: +47.8% YoY and +19.7% QoQ
Driving Factors: Surge in Chinese investors relocating production bases to Chonburi, along with key infrastructure developments such as the Government All-Service Center in the Amata City Industrial Estate, enhancing business operations.
? Rayong Province
⏩ Land Price Index: 203.6 points
✅ Increased by 1.4% YoY and 5.5% QoQ
Driving Factors: Expansion of industrial zones, particularly manufacturing plants and industrial estates. Foreign investors are seeking land for establishing new production bases.
? Chachoengsao Province
⏩ Land Price Index: 197.7 points
✅ Increased by 1.4% YoY, but slightly decreased -0.2% QoQ
Driving Factors: A slight slowdown in industrial and real estate investments compared to other EEC provinces.
