Chinese manufacturing firms drive up land price in the EEC by over 26%
REIC says increasing number of Chinese investors relocated their production base to the area last year
The relocation of manufacturing bases by Chinese companies is the main factor driving up the prices of vacant lands in the Eastern Economic Corridor (EEC), the Government Housing Bank’s Real Estate Information Centre (REIC) reported on Friday.
The centre reported the price index of land before development in the EEC area for the fourth quarter of 2024 at 323.9 points, a 26.4% increase year on year (YoY) and up 9.1% quarter on quarter (QoQ).
The land price index for Q4 last year was 14% higher than the five-year average index before the Covid-19 pandemic (2015-2019), it said.
Chonburi province recorded the highest price index at 447.6 points, increasing 47.8% YoY and 19.7% QoQ. The land price index for Rayong province is at 203.6 points, up 1.4% YoY and 5.5% QoQ, while Chachoengsao province is at 197.7 points, increasing 1.4% YoY but dropping 0.2% from the previous quarter.
The REIC said an increasing number of Chinese investors had relocated their production bases to the EEC last year. This trend was boosted by the opening of the government’s All-Service Centre in Amata City Industrial Estate, Chonburi province.
The centre facilitates investors in obtaining various permits and licences, supporting their setting up of manufacturing bases in Thailand, it said.
The five areas in the EEC that reported the largest price increase for vacant lands were:
- Klaeng district, Rayong (92.3% increase YoY)
- Banglamung, Chonburi (50.6%)
- Si Racha, Chonburi (47.6%)
- Plaeng Yao, Chachoengsao (27.5%)
- Phanat Nikhom, Chonburi (18%)
