![](https://thadinn.com/wp-content/uploads/2024/06/19-2.jpg)
MYANMAR – An interior source said that the Bureau of Special Investigation (BSI), under the Ministry of Home Affairs, is working on the investigation of cackground history of those from Myanmar who bought condominiums in neighboring Thailand about how they earn income and whether taxes were paid or not.
In the first 4 months from January to April 2024, Myanmar nationals purchased 392 condominium units, worth more than 2.21 billion Thai baht in Thailand, and Thai news reported that Myanmar nationals became the second highest number of condo buyers among foreigners who purchased Thai condos. It is learned that the Ministry of Home Affairs has instructed the BSI to submit their findings to investigate the fact that Myanmar citizens have become the second largest purchasers of condo units in Thailand.
“Where did the income come from and how did they send the money and buy the condos? Next time, there are instructions for the BSI to investigate whether the money was taxed or not, and what kind of people bought it,” an interior source said.
At present, the BSI is conducting inquiries based on the list of condo buyers that they have investigated. That inspections are underway. It is understood that some buyers of condos in Bangkok are being questioned.
In the past, Russians were the second largest buyers of condos in Thailand’s real estate market, but within four months this year, Myanmar people have replaced Russians as the second largest buyers, according to Thai media.
From January to April 2024, foreigners bought 3,938 condo units in Thailand with a total value of 18.02 billion Thai baht. Condominium purchases by foreigners increased by 4.3 percent compared to last year, and the purchase price increased by 5.2 percent, respectively.
In the first 4 months of this year, Chinese citizens bought 1,596 Thai condos worth 4.57 billion Thai baht, ranking first among foreigners buying Thai condos. Myanmar people took the second place and Russian citizens who bought 295 condo rooms worth 924 million baht also won the third place.
41 percent of the Thai real estate market is being bought by Chinese citizens, while Myanmar citizens are buying 10 percent of the Thai real estate market. Russian buyers have bought 5 percent of the Thai real estate market.