EEC market weakens as condos tumble

PUBLISHED : 5 May 2026 at 06:41

WRITER: Kanana Katharangsiporn

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The housing market in the Eastern Economic Corridor (EEC) continued to soften in 2025, with both demand and supply contracting year-on-year, according to the Real Estate Information Center (REIC).

In the fourth quarter, housing transfers tallied 13,090 units worth 30.8 billion baht, down 2.1% in units and 7.8% in value from a year earlier.

For the full year, transfers fell 4.4% to 45,958 units and 7.4% in value to 111 billion baht.

Low-rise housing remained the main driver, accounting for the majority of transfers, while condo transfers declined more sharply, particularly in value.

However, on a quarter-on-quarter basis the market showed signs of improvement, supported by government stimulus measures, including reduced transfer and mortgage fees to 0.01% and relaxed loan-to-value rules.

Despite these measures, demand remained subdued amid economic uncertainty, with buyers adopting a cautious approach, according to REIC.

Rayong was the only province to post growth, with transfers rising 4.8% in units and 3.9% in value, driven by housing demand linked to industrial expansion and employment.

Supply also contracted significantly, reflecting developers' cautious stance in response to weak demand.

New land allocation permits in 2025 totalled 118 projects with 9,134 units, down 22.4% in project numbers and 27.5% in units from the previous year.

Townhouses accounted for the largest share at 49.8%, followed by single detached houses and semi-detached houses, highlighting continued focus on the low-rise segment.

Rayong recorded the greatest number of new supply, accounting for more than half of total units, followed by Chon Buri and Chachoengsao.

In the fourth quarter, land allocation permits declined by 8.8% for project numbers and 6.2% in units year-on-year.

Construction activity showed mixed signals. In the fourth quarter, construction permits rose slightly by 1.7% to 8,664 units, driven by a 9.3% increase in low-rise housing.

However, condo construction permits dropped by 12.7%, reflecting weaker demand in the segment.

For the whole year, total construction permits fell by 25% to 26,377 units, with low-rise housing and condominiums declining by 22.6% and 35.9%, respectively.

Chon Buri remained the largest construction market, followed by Rayong and Chachoengsao, with most permits concentrated in single detached housing.

## UNEVEN DEMAND

Pairoj Wattanavarodom, managing director of SET-listed Eastern Star Real Estate, said housing demand in the eastern region remains uneven, particularly in Rayong and Chon Buri.

"Map Ta Phut continues to see demand from professional groups such as doctors, military personnel, and those working in the aviation sector," he said.

However, demand from industrial workers has begun to weaken as some large petrochemical and construction material companies in Rayong's industrial estates have started to reduce their headcounts and lay off employees.

The EEC housing market is expected to remain under pressure in the near term, weighed down by economic uncertainty and weaker purchasing power, said Mr Pairoj. Developers have scaled back launches and focused more on lower-priced segments to align with market conditions.

While government stimulus measures have helped support short-term activity, they have yet to drive a sustained recovery in demand.

The divergence between low-rise resilience and condo weakness is likely to persist, reflecting changing buyer preferences and affordability constraints, he said.

The market remains in a consolidation phase, with both developers and buyers adopting a wait-and-see approach.

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- KEYWORDS

- Eec property market

- Thailand real estate trends

- Rayong housing market

- Condo market analysis

- Housing transfer statistics

- Chon buri property development

- Reic market report