Picture courtesy of WHA Industrial Development
Sales of residential units in the Eastern Economic Corridor (EEC) have taken a nosedive, particularly near industrial estates, following a wave of factory closures.
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Sales of residential units in the Eastern Economic Corridor (EEC) have taken a nosedive, particularly near industrial estates, following a wave of factory closures.
Vichai Viratkapan, acting director-general of the Real Estate Information Center (REIC), pointed the finger at the shuttering of large factories since last year, which has severely impacted housing demand in Chon Buri and Rayong.
“New sales of condos and townhouses in industrial zones have fallen for two consecutive quarters, from the first to the second quarter of this year.”
In the second quarter of 2024, new residential unit sales across Chon Buri, Rayong, and Chachoengsao totalled just 5,132 units, valued at 16.8 billion baht, the lowest figures recorded since REIC began its quarterly surveys in early 2022. This represents a sharp decline from 6,563 units worth 21.7…