THAILAND – During the first six months of 2024, Myanmar citizens bought a record 638 condominium units in Bangkok, worth 3.24 billion baht, according to the Bangkok Post on Tuesday, September 24.
In the first six months of 2024, the purchase of condos by Myanmar citizens has increased more than the previous year. According to a report by Thailand’s Real Estate Information Center (REIC), 638 condominium units worth 3.24 billion baht were purchased and transferred.
Myanmar citizens reportedly purchased 564 condominium units worth 3.7 billion baht in 2023, 349 condominium units worth 2.55 billion baht in 2022, and only 30 condominium units worth 274 million baht in 2021.
“Among all foreign nationals receiving condo transfers, Myanmar national ranked in the top 10 for the first time in 2022, compared to only 20-50 units per year previously,” said Vichai Viratkapan, REIC’s acting director-general.
In 2022, Myanmar ranked 6th in the list of countries that bought condo rooms in Thailand, and now it has become the second country that buys the most condo rooms in Thailand. The first country to buy condos is Chinese nationals, and Myanmar has overtaken Russia to rank second.
It was said that the number of condo transfers to Myanmar nationals dropped in the beginning of 2024 due to the junta’s restrictions and actions.
