Dr. Siwong Sukhamongkol, the newly appointed President of the Chachoengsao Real Estate Association, announced that he officially took office on September 4, 2023. He expressed his delight in being part of the development and promotion of real estate and housing in Chachoengsao, aiming to foster growth by continuing policies and supporting the development of the Eastern Economic Corridor (EEC). He has outlined seven key policies.

1. Chachoengsao: A City Worth Visiting, Living, and Investing In - Chachoengsao is a province with many distinctive features. It is a peaceful city with a suitable living environment, blending urban and rural lifestyles harmoniously. It also offers convenient transportation, being only 75 kilometers from Bangkok, and serves as a connecting route to the eastern region. The province boasts cultural attractions such as Wat Sothorn Wararam Worawihan, as well as natural tourist spots like Bang Khla Floating Market, Tha Sa An Market, Klong Si Yat Reservoir, and the Bang Pakong River, which are perfect for nature lovers and feature many renowned restaurants.

It is well-known that Chachoengsao is one of the provinces within the Eastern Economic Corridor (EEC), providing high investment opportunities due to its ready infrastructure, including high-speed rail, connections to Laem Chabang Deep Sea Port, and Suvarnabhumi Airport. The province hosts four industrial estates: Wellgrow Industrial Estate, TFD Industrial Estate, Gateway City Industrial Estate, and Industrial Estate 304, making Chachoengsao an attractive location for living, tourism, and investment.

2. Addressing Road Issues

3. Urban Planning

4. Land and Building Tax Issues

5. Tourism and Transportation on the Bang Pakong River

6. Support for Various Real Estate Measures

7. Supporting the Development of the Eastern Economic Corridor (EEC)

Overall, the real estate market in Chachoengsao has been continuously growing over the past few years due to the expansion of the EEC, resulting in a steady increase in land prices, especially in areas related to the EEC and near transportation networks. The growth of housing projects is expected to rise due to increasing demand from workers and executives in the area, leading major developers like Britannia and Supalai to launch multiple housing projects.

In line with investment promotion (BOI), in the first half of 2023, there were 1,412 investment promotion applications, a 64% increase from the same period last year, with an investment value of 458.359 billion baht, up 35%. Notably, investments concentrated in the eastern region accounted for 625 projects, or 44% of all projects, with an investment value of 211.569 billion baht, or 46% of total investments. This includes 105 projects in the electrical and electronics industry with an investment of 69.615 billion baht, 111 projects in the automotive and parts industry with an investment of 34.893 billion baht, and 76 projects in the petrochemical and chemical industry with an investment of 23.168 billion baht, including 51 projects in Chachoengsao with an investment of 14.317 billion baht.

However, for the property transfer figures in 2023, specifically in Mueang District, Ban Pho District, and Bang Pakong District, there were a total of 1,834 units transferred, with 404 units in Q1, 411 units in Q2, 562 units in Q3, and 457 units in Q4, amounting to a value of 5.71519 billion baht. Townhomes had the highest transfer numbers at 577 units, accounting for 31.46%, but in terms of value, single houses had the highest value at 2.22606 billion baht, representing 38.95%.

For Q1 2024, in Mueang District, Ban Pho District, and Bang Pakong District, there were 303 units transferred, valued at 951.68 million baht, with duplex homes having the highest transfer value at 365 million baht, accounting for 38.38%. Comparing the transfer figures from Q1 2023 to Q1 2024, there was a noticeable decline in Q1 2024 due to many companies experiencing rejections from banks, combined with rising interest rates, leading some clients to cancel and delay their decisions on property transfers. Therefore, as the association president, he aims to push for real estate measures regarding interest rates and the reduction of transfer and mortgage fees for first-time and second-hand homes priced below 7 million baht, which will expire this year. Additionally, he seeks government support to ease LTV measures and reduce interest rates to provide more opportunities for those seeking a second home to obtain loans, while the government should also support low-interest loans, as there has been a higher demand for homes than the loan limits supported by the government.