Housing transfers in Rayong in the first quarter of 2025 rose year-on-year, bucking the overall decline across the Eastern Economic Corridor (EEC) provinces, driven by demand from workers in the industrial sector and foreigners relocating from Pattaya.

According to the Real Estate Information Center (REIC), Rayong was the only province in the EEC to record year-on-year growth in both volume and value of housing transfers, rising by 3.8% and 2.7%, respectively, to 2,171 units worth 4.5 billion baht.

"The completion of the motorway extension from Pattaya to Map Ta Phut in Rayong served as a trigger," said Pairoj Wattanavarodom, managing director of SET-listed developer Eastern Star Real Estate, which focuses on the Rayong market.

Completed three years ago the new extension cut travel time by nearly half, reducing the drive from Pattaya to Map Ta Phut from around 1.5 hours to roughly 45 minutes.

Tayat Kanchanachitra, president of the Rayong Real Estate Association, said housing units priced between 1.8 and 3 million baht recorded strong sales following the EEC initiative, which lifted the industrial sector and drove residential demand.

"Compared with Chon Buri, land prices in Rayong are significantly lower," he said.

"As a result, homes of similar size are more affordable."

Mr Pairoj echoed this point, noting single detached houses at Eastern Star's project in Rayong's Ban Chang district are priced between 11 and 20 million baht per unit, whereas comparable units in Pattaya could cost as much as 20 to 30 million baht.

"Thanks to the motorway connection, some buyers at this project are foreigners who have relocated from Pattaya, which has become increasingly overcrowded and where housing prices have continued to rise," he said.

Mr Pairoj said this trend began earlier this year, when UOB Bank started offering mortgages to expatriates working in Thailand.

"That move opened the door for more foreign buyers, particularly those based in Pattaya, to purchase single detached houses in our Ban Chang projects," he said.

According to REIC, the other two EEC provinces reported declines. Chon Buri recorded an 8.5% decrease in housing transfers in the first quarter of 2025, totalling 6,621 units, with the value falling by 9.8% to 17.5 billion baht.

However, Chon Buri still had the highest number and value of housing transfers among EEC provinces.

Meanwhile, Chachoengsao posted a 9.4% drop in the number of transfers to 743 units, with the total value falling by 18.1% to 1.58 billion baht.

With the decline in Chon Buri, which held a market share of nearly 70%, the total number of housing transfers across the EEC provinces fell by 6% to 9,535 units in the first quarter of 2025, with the combined value dropping by 8.3% to 23.6 billion baht.

The majority of transfers were low-rise houses, totalling 6,123 units or 64% of the total, down 7% year-on-year. Their combined value dropped by 10.3% to 15.3 billion baht.

Condos accounted for the remaining 3,412 units, some 36%, down 4.2% with a total value of 8.3 billion baht, a decline of 4.3%.