"Real Estate Information Center" reveals the housing market situation in the EEC provinces, particularly in the areas under strict control (dark red), where economic activities are restricted to prevent the spread of COVID-19. This has significantly impacted the purchasing power and confidence in buying homes in the EEC provinces.

           Dr. Vichai Viratakpan, Inspector of the Government Housing Bank and Acting Director of the Real Estate Information Center (REIC) stated that the housing market situation in the EEC during the second quarter of 2021 and the first half of 2021 shows that in the second quarter of 2021, there was a slowdown in supply, with a decrease in residential construction permits by -1.3% while land allocation permits increased by 38.3% compared to the same period last year. This increase comes from a very low base in the second quarter of 2020, which was the initial phase of the COVID-19 pandemic (in the second quarter of 2020, land allocation permits were 52.8% lower than the average of the five years before the pandemic, which was about 5,700 units per quarter).

            Demand for property transfers, reflecting purchasing power, was also affected, with the number of units decreasing by -10.4% and value decreasing by -8.0%. Overall, the situation in the first half of 2021 followed the same trend: the Thai economy was impacted by two waves of COVID-19, leading to a contraction in both supply and demand in the housing market, with land allocation permits decreasing in both the number of projects and units by -22.8% and -15.7%, respectively.

            However, residential construction permits increased by 7.1%, reflecting an increase from a very low base during the abnormal period. Demand for property transfers decreased in both the number of units and value, with the number of units down by -21.9% and value down by -18.1%, respectively.

            In the first half of 2021, there were 71 residential projects approved for land allocation by the Department of Lands, totaling 7,090 units, a decrease in both the number of projects and units by -22.8% and -15.7%, respectively, compared to the same period in 2020, which had 92 projects and 8,409 units out of the 7,090 units.

            Most land allocation permits were for townhouses, totaling 3,682 units, accounting for 51.9% of all land allocation permits. This was followed by duplex houses with 1,676 units (23.6%) and single-detached houses with 1,667 units (23.5%). The remainder consisted of commercial buildings and allocated land.

             When considering the provinces in the EEC during the first half of 2021, the provinces with the highest number of land allocation permits are ranked as follows:

            1st Place: Chonburi Province had 3,704 units, accounting for 52.2% of all land allocation permits, with an increase of 9.2% in permits.

            2nd Place: Rayong Province had 2,782 units, accounting for 39.2%, with a decrease of -7.3% in permits.

            3rd Place: Chachoengsao Province had 604 units, accounting for 8.5%, with a significant decrease of -70% in permits.

 

            Regarding construction permits, in the first half of 2021, there were approximately 17,049 residential construction permits issued in the three EEC provinces, including self-built houses, project houses, and condominiums, representing an increase of 7.1% compared to the same period in 2020. This included approximately 13,895 permits for horizontal housing and about 3,154 permits for condominiums. While horizontal housing permits decreased by -1.8%, condominium permits increased significantly by 78.9% compared to the same period in 2020.

            When considering the provinces in the EEC during the first half of 2021, the provinces with the highest number of residential construction permits are ranked as follows:

            1st Place: Chonburi Province had approximately 10,389 residential construction permits, accounting for 60.9% of all residential construction permits.

            2nd Place: Rayong Province had approximately 3,722 residential construction permits, accounting for 21.8% of all residential construction permits.

            3rd Place: Chachoengsao Province had approximately 2,938 residential construction permits, accounting for 17.2% of all residential construction permits.

            In terms of property transfers, in the first half of 2021, there were 16,045 property transfers in the three EEC provinces, valued at 37,855 million baht. The number of units and value decreased by -21.9% and -18.1%, respectively, compared to the same period in 2020, which had 20,550 units and a value of 46,209 million baht.

            When considering the provinces with the highest property transfers, ranked by transfer value, they are as follows:

            1st Place: Chonburi Province had 12,489 units, down by -5.3%, with a value of 30,436 million baht, down by -3.6%.

            2nd Place: Rayong Province had 2,794 units, down by -47.5%, with a value of 5,874 million baht, down by -43.8%.

            3rd Place: Chachoengsao Province had 762 units, down by -62.6%, with a value of 1,545 million baht, down by -63.1%.

            The Real Estate Information Center assesses the overall situation for 2021, estimating that the supply of land allocation permits will grow at a rate of -17.5% to 0.8%, while residential construction permits will grow at a rate of -9.2% to 11%.

            In terms of demand for 2021, it is anticipated that the number of property transfers will grow at a rate of -37.8% to -24%, but the value of property transfers is expected to grow at a rate of 9.5% to 33.8% due to the increase in housing prices per unit compared to 2020.