Chonburi pushes Bangkok down, becoming the hottest Thai-foreign real estate zone.

Chonburi becomes number 1 in the best location in Bang Lamung, Sattahip, Mueang Chonburi. Foreigners have transferred the most ownership in Thailand, overtaking Bangkok for the first time. Developers have turned their focus to developing new projects, with values ​​rising 130%, escaping the fierce competition in Bangkok.

In the past, real estate in Bangkok It is a prime area, a hot zone, with sales and new launches consistently being number 1.

However, in 2566, Chonburi accelerated its growth, dethroning Bangkok to become the most purchased real estate property in Thailand by foreigners for the first time.

Chonburi surpasses Bangkok and becomes number 1 in the hearts of foreigners.

By information from the Real Estate Information Center (REIC), report on the situation of transfer of ownership of condominium units. (Condominiums) owned by foreigners during the first 9 months (Jan. - Sep.) of 2566, there were a cumulative total of 10,703 units, an increase of 37.6% and a value of 52,259 million baht, an increase of 31.6% compared to the same period of year ago

The unit for transferring ownership of condominium units for foreigners has spread most widely in Chonburi province, with a proportion of 41.7%, becoming number 1 for the first time, from last year's proportion of only 30.8%.

While Bangkok was 2nd with a proportion of 37.5%, from last year the proportion was as high as 48.8%.

From the picture above, it can be seen that among the first 5 nationalities that transferred the most ownership of condominiums during the first 9 months of 2566, Chonburi Province. There are the highest number of units among 4 nationalities, except Taiwan, which still purchases more properties in Bangkok, as follows:

1. China Number of 4,991 units, total value 24,740 million baht, separated into 5 highest purchasing areas. “Chonburi is number 1 in number of units, but in terms of value, Bangkok is still higher.”
2. Russia Total 962 units, value 3,436 million baht, separated into 5 highest purchasing areas. "Chonburi is ranked number 1 in terms of value and volume. Bangkok is not in the top 5 that Russians buy."
3. U.S. Total 422 units, value 2,102 million baht, separated into 5 highest purchasing areas. “Chonburi is ranked number 1 in terms of quantity, while Bangkok is highest in terms of value.”
4. ไต้หวัน Total 378 units, value 1,841 million baht, separated into 5 highest purchasing areas. “Bangkok No. 1 in value and quantity Next is Chonburi.”
5. United kingdom Total 372 units, value 1,813 million baht, separated into 5 highest purchasing areas. “Chonburi has the highest number of units purchased. But the value of Bangkok is more.”

Real estate flocks to develop EEC houses instead of Bangkok.

This is consistent with real estate development data from developers who are beginning to shift more towards the EEC area, consisting of Chonburi, Rayong, and Chachoengsao.

In the third quarter of 3, there was an expansion in both the number of units and the value of newly launched residences in the 2566 EEC provinces, with the number of units and value expanding by 3% and 90.7%, respectively.

For the overall demand in the first nine months of 2023, the number of residential property transfers decreased by 270,650 units, a decrease of -4.2%, but the value increased by 1.6% to 766,791 million baht.

• The group of houses priced under 3.0 million baht, which was the largest group of ownership transfers, saw unit conversions decrease between -5.9% and -8.8%.
• The group of houses priced over 3.0 million baht has experienced high growth. with housing priced at more than 7.5 million baht or more It is a price group with a lot of units and value expanding.

It is expected that the factor causing more house development in Chonburi than in Bangkok comes from competition in the Bangkok house-condo market which is quite intense. Coupled with high prices and the supply of land in Bangkok is less than Chonburi.

Chonburi houses priced at 10-20 million baht are the most searched for purchases.

Meanwhile, data from Nestopa Co., Ltd. , the owner of the real estate buying and renting platform Nestopa.com, reveals an interesting statistic: houses in Chonburi province were searched for the most.

The houses are priced at 10-20 million baht, followed by Prachuap Khiri Khan Province in second place and Chiang Mai Province in third place.

Bangkok is the top search champion for condos. The purchasing budget is in the price range of 1-3 million baht, followed closely at number 2 by Chonburi and number 3 by Phuket.