Laem Chabang Port Development Project Phase 3 is one of the projects located within the Eastern Economic Corridor (EEC). Land prices in the EEC provinces rose due to EEC projects during this year's first quarter.

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.

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.

This was supported by the relocation of foreign manufacturing bases, with investors purchasing land to build factories both within and outside industrial estates.

Key drivers included international geopolitical tensions, US trade barriers, and Thailand's political neutrality, along with strong regional infrastructure, energy supply, and logistics systems.

These factors positioned Rayong as a highly attractive destination for investors, according to REIC.

Chon Buri is in hot pursuit, with land prices rising 33.6% year-on-year and 4.6% quarter-on-quarter, bringing the index to 468.4 points.

The increase was attributed to industrial expansion, foreign investment, and a growing residential market, particularly in Pattaya, where foreign demand for condo and housing projects had risen significantly.

Many of these foreign buyers had used privileges granted under the Board of Investment (BoI) scheme to purchase properties either for personal residence during their time in Thailand or under corporate ownership.

In contrast, land prices in Chachoengsao fell by 13.5% year-on-year and 18.6% quarter-on-quarter, with the index at 161.0 points.

This decline reflects a temporary slowdown in residential development demand in the area, which has not been as heavily influenced by industrial investment as other EEC provinces.

By district, Bang Lamung in Chon Buri recorded the sharpest increase in land prices, rising 126.5% year-on-year.

As a major tourism destination in the province, most of the land in this area was being developed for residential projects to meet growing demand.

Si Racha, which recorded the second-highest increase and is also located in Chon Buri, saw land prices rise by 88.6% year-on-year.

The growth was driven by housing developments targeting both Thai and foreign residents, particularly Japanese workers in nearby industrial estates and the tourism sector.

The third-highest increase was in Ban Khai district in Rayong, where land prices rose by 47.9% year-on-year.

The area has attracted growing interest from developers due to its proximity to industrial zones and expanding infrastructure linked to the EEC.

The fourth- and fifth-highest increases were recorded in Mueang Chon Buri, with a 33.5% year-on-year rise in land prices, and Pluak Daeng district in Rayong, where prices increased by 11.2% year-on-year.