The condominium market in Chon Buri recovered in the second quarter of 2026, supported by student-related purchases, before demand shifted towards industrial workers in the third quarter, according to SET-listed Origin Property.
Apisit Soonthronchukiat, chief marketing and sales officer, said demand in Chon Buri remained resilient, with foreign buyers, students and industrial workers driving condominium sales in Pattaya, Bang Saen and Si Racha, respectively.
“Student demand typically peaks when universities reopen, as parents buy condos for their children, while investors seek units to tap the student rental market,” he said.
According to the Real Estate Information Center, condominium sales in Chon Buri jumped 74.5% year-on-year in the second quarter, helping to drive a 39% increase in the province’s residential sales.
The best-performing areas were Pattaya-Na Jomtien, where sales increased by 21% on foreign demand, and Bang Saen-Nong Mon-Bang Phra, which grew by 9% on purchases linked to student demand.
However, student-related purchases dropped after universities had been open for a while in the third quarter, while demand from workers employed at industrial estates increased to fill the gap, Mr Apisit said.
“Rental demand in the Eastern Economic Corridor provinces is very strong, with some companies seeking 30-40 new condo units for employees,” he said. “We rent them to companies before selling the units with tenants to investors.”
Origin targets this corporate rental demand with ready-to-move-in projects that have fewer than 100 remaining units, creating an opportunity to sell units to investors with secured rental contracts.
Mr Apisit said the shift towards renting is also spreading among younger workers, who value greater flexibility and face tighter mortgage conditions amid economic and global uncertainties.
The trend is also visible in Greater Bangkok, where condo demand remains but mortgage qualification has become a major obstacle, particularly for buyers seeking units priced below 3 million baht.
Origin’s average mortgage rejection rate stood at 40% in the first eight months of the year, with the highest rate recorded among buyers of units priced between 1.5-3 million baht, many of whom were first-jobbers with limited credit histories.
“Consumer instalment obligations, whether through financial institutions or retailers, are included in lenders’ assessments of borrowers’ repayment capacity when they apply for home loans,” said Mr Apisit.
He added that the fourth quarter would provide an opportunity for developers to accelerate condominium sales through events and campaigns, but developers must work harder across online, offline and agent channels to meet targets.
“Even if the transfer target is 100%, developers have to sell 150% to achieve it, whether through online and offline marketing or sales through agents,” he said.