Although in 2025 the Thai real estate market will face pressure from various factors, resulting in a total of 48,095 residential property transfers nationwide, valued at 119.663 billion baht, which is a decrease in both quantity (-6.7%) and value (-7.8%) from the previous year, on the contrary, the "rental property market" is unexpectedly booming, especially in the Eastern Economic Corridor (EEC).

Service Residences Competing with Hotels
According to Primo Service Solution Public Company Limited, a leading comprehensive real estate service provider in the country, including living services for rental, the trend of rental properties has changed in this era. Currently, the trend of renting Service Residences, which offer hotel-like services, is gaining popularity. This is supported by foreign tourists from Europe, Russia, China, and Korea, who are opting for short-term condo rentals of 1-2 months instead of long-term contracts of 6 months to 1 year as in the past, and instead of staying in hotels which are more expensive. This has clearly allowed this market to start taking a slice from the hotel sector.

The target market for rental properties has diverse demand, including tourists, Thai citizens, expatriates working in Thailand, and those involved in short-term projects in industrial areas, who require housing in Bangkok and its vicinity, as well as in the EEC from foreigners working in Thailand.

EEC: A Turning Point for the Rental Market… Driven by Chinese Manufacturing Demand
The EEC area, particularly Chonburi and Rayong provinces, is being boosted by the expansion of factories and production bases from Chinese investors in the EV, automotive parts, and petrochemical industries. In 2024, the nationality with the most investment in the EEC was China, followed by Thailand, Singapore, Japan, and South Korea. Compared to 2023, investment in this zone has "surged by 90%."

It is not surprising that the demand for housing is growing correspondingly, especially in areas like Bang Saen, Si Racha, and Rayong, which are becoming hubs for high-quality labor, employees from industrial estates, and expatriates working on long-term projects.

Service Residences in the EEC Offer High Returns
With the number of hotels and apartments in the EEC remaining stable, but the demand for housing soaring, many accommodations are "fully booked," creating opportunities for the condo and serviced apartment market to fill the gap perfectly. According to data from LPN, looking back over the past 5 years in the EEC, this area has seen numerous real estate developers continuously launching projects. The buyer group with purchasing power in this area includes both investors and employees working in industrial estates, with an average income ranging from 20,000 to 50,000 baht per month, along with an increasing number of Chinese investors expanding their production bases in Chonburi's industrial estates.

The average rent for condos sized 26-30 sq.m. in this area is between 3,500 and 9,000 baht per month, yielding an average rental yield of 5-7% per year.

Meanwhile, the occupancy rate for apartments and serviced apartments is as high as 80-90%, reflecting the ongoing demand for housing in this area. Therefore, it is not surprising that both individual and foreign investors are starting to secure properties for rental investment.

This is a golden opportunity for both tenants looking for flexible and cost-effective options and investors seeking to generate long-term income from a market with real demand, as rental properties may not just be an option but a "tangible new opportunity."

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References
https://www.bangkokbiznews.com/property/1176556
https://www.bangkokbiznews.com/property/1176556
https://www.terrabkk.com/news/207431
https://positioningmag.com/1523414