Myanmar Ranks Second for Buying Condos in Thailand

Recent data from the Real Estate Information Center (REIC) shows that the number of Myanmar people buying condos in Thailand has grown a lot. In the first nine months of 2024, Myanmar nationals bought more than 1,000 condos worth 5.46 billion baht. This is a big increase compared to 2022, when they bought only 349 condos for 2.55 billion baht. This rise in property purchases shows that many Myanmar citizens are turning to Thailand’s real estate market for investment and security.

Myanmar is now the second-largest group of foreign condo buyers in Thailand, behind only Chinese buyers. They have overtaken other groups, including Russians and Singaporeans.

Why Are Myanmar People Buying Condos in Thailand?

There are several reasons why more Myanmar nationals are investing in Thai property:

1.Political and Economic Problems in Myanmar

Myanmar has been facing political and economic issues since the military took control in 2021. This has caused problems such as a falling currency and limited options for investment. Many Myanmar people are looking for safer places to invest, and buying a condo in Thailand is a way to protect their money. Thailand is seen as a stable country to invest in compared to Myanmar.

2.Proximity and Easy Access

Thailand is close to Myanmar, and the two countries share a border. It’s easy to travel between them, and many Myanmar people are familiar with Thailand. Thailand’s government also welcomes foreign investors, making it a good option for Myanmar nationals to buy property.

• Safe Investment and Growing Property Value

Thai real estate is seen as a good investment because property values tend to rise over time. Many Myanmar buyers prefer condos in cities like Bangkok, where they can earn high returns on their investment. Myanmar buyers tend to purchase higher-priced properties, showing that they are looking for quality homes that can provide good value in the future.

• Better Quality of Life

Many Myanmar buyers are not just investing in condos but also looking for better living standards. Buying a condo in Thailand allows families to enjoy better education and healthcare services. Thailand offers international schools, universities, and modern hospitals, which attract Myanmar families who want a better life for their children and themselves.

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3. Favorable Investment Climate in Thailand

Thailand has long been known for its foreigner-friendly property laws, which allow non-citizens to own condominiums outright, provided that foreign ownership in a building does not exceed 49%. This policy, coupled with Thailand’s stable economy and well-developed infrastructure, makes it an appealing destination for international investors. The Thai government’s efforts to promote foreign investment further enhance its attractiveness.

4. Rising Property Values and High Returns

Thai real estate, particularly in major cities like Bangkok, Chiang Mai, and Phuket, is viewed as a lucrative investment. Property values in these areas have shown consistent growth over the years, offering the potential for high returns on investment. Myanmar buyers, in particular, tend to purchase higher-priced condos, indicating their focus on quality properties that promise long-term value appreciation.

5. Improved Quality of Life

For many Myanmar nationals, investing in Thai real estate is not just about financial gains but also about securing a better quality of life. Thailand offers access to world-class healthcare, international schools, and modern amenities, making it an ideal destination for families seeking improved living standards. Cities like Bangkok and Chiang Mai are particularly popular due to their vibrant expatriate communities and cosmopolitan lifestyles.

6. Diversification of Assets

In light of the economic uncertainty in Myanmar, many investors are looking to diversify their assets by investing in overseas markets. Thai real estate provides a tangible and relatively low-risk investment option, allowing Myanmar nationals to spread their financial risks across different markets.

7. Tourism and Rental Income Potential

Thailand’s thriving tourism industry presents an additional incentive for Myanmar investors. Condos in popular tourist destinations like Phuket, Pattaya, and Koh Samui can generate significant rental income, especially during peak travel seasons. This makes Thai properties not only a safe investment but also a source of passive income.

Challenges and Considerations for Myanmar Buyers

While the Thai real estate market offers numerous benefits, Myanmar investors should also be aware of potential challenges:

Foreign Ownership Restrictions: The 49% foreign ownership limit in condominium buildings can limit options in highly sought-after developments.

Currency Fluctuations: Exchange rate volatility between the Thai baht and Myanmar kyat can impact the overall cost of investment.

Legal and Tax Implications: Understanding Thailand’s property laws and tax regulations is crucial to avoid unexpected costs or legal issues.

The Future of Myanmar Thai Real Estate Ties

The growing presence of Myanmar nationals in Thailand’s real estate market is likely to continue, driven by the ongoing political and economic challenges in Myanmar and the attractive investment opportunities in Thailand. This trend not only benefits Myanmar investors but also contributes to the growth of Thailand’s property market, particularly in cities with high demand for condominiums.

For Myanmar buyers, partnering with a reputable real estate agency can help navigate the complexities of the Thai property market. Agencies like Under One Roof offer expert guidance, free consultations, and access to premium properties, ensuring a seamless and secure investment experience.