Myanmar secures 8th spot in top 10 countries from condo purchases in Thailand

In the first half of 2023, Myanmar ranked 8th among the countries with the highest number of purchasing condominiums in Thailand, according to the Bangkok Real Estate Information Centre.
In Thailand, the number of condo purchases by Thai citizens is low, but foreigners are on the rise. Among them, Chinese nationals are the most likely to take over the condos.
The value of condo takeovers has risen steadily since the second half of 2021, driven by a surge in purchases due to the overall reopening in the second half of last year. According to Bangkok real estate information, condominium ownership of foreigners is a 20 per cent increase over the previous year, especially in Pattaya and Phuket.
In the first half of this year, 7,338 condo units were transferred to foreigners.
China ranks the first, followed by Russia and the United States. In 2022, Myanmar was ranked 6th in terms of condo purchases, and this year, it ranked 8th among the top 10 countries for condo purchases.
According to the list published by the Real Estate Information Centre, 182 condo units were purchased by Myanmar with an average value of seven million baht per unit.
In Thailand, Myanmar people buy condos as second home in Thailand. In Bangkok, some purchasers prefer Sukhumvit, which is close to railways.
Some choose a location near healthcare services, while other opts for places close to universities for their studies, said a Myanmar resident in Thailand. — TWA/KZW