The ongoing political conflict, war, and instability in Myanmar have prompted many affluent Myanmar citizens to seek new homes abroad. Since 2017, Thailand has emerged as a favored destination for wealthy individuals from Myanmar looking to invest in real estate.

The Real Estate Information Center (REIC) reports a continuous increase in condominium purchases by Myanmar nationals in five provinces: Bangkok, Chonburi, Chiang Mai, Samut Prakarn, Phuket, and Tak, with a total value of 274 million baht and an average price of 9.1 million baht. The proximity to Myanmar, familiarity with the lifestyle, previous visits for leisure, children studying in Thailand, and ease of travel during emergencies are key factors driving this trend.

 

In 2022, Bangkok continued to attract significant interest from Myanmar buyers, with purchases increasing more than tenfold to 311 units at an average price of 7.8 million baht per unit. Chonburi followed with 13 units at an average of 10.5 million baht each. The purchasing trend expanded to 10 provinces, including Chiang Mai, Pathum Thani, Chonburi, Songkhla, Nonthaburi, Tak, and Nakhon Pathom, totaling 349 units and 18,098 square meters, with an average size of 51.9 square meters and an average price of 7.3 million baht per unit.

In 2023, Myanmar nationals purchased 564 condominiums valued at 3,707 million baht, averaging 6.6 million baht per unit, with a total area of 28,239 square meters and an average size of 50.1 square meters. This data indicates a preference among Myanmar buyers for larger condominiums, typically over 50 square meters, which provide more comfortable living conditions.

Popular purchasing locations are spread across various areas in Bangkok. Wealthy Myanmar buyers tend to favor luxury condominiums priced between 10 to 20 million baht in Sukhumvit, Prompong, and Asok, close to hospitals, international schools, shopping malls, and hotels. Meanwhile, middle-income buyers prefer condominiums priced between 5 to 10 million baht near mass transit, such as in Ari and Phayathai, for personal use or potential rental and resale opportunities.

In tourist areas, some buyers are investing in pool villas in the Laguna and Bangtao areas of Phuket, starting at 40 million baht. Condominiums are also popular, with an average price of 6.1 million baht per unit.

Families and retirees are inclined to purchase single-detached houses in Chiang Mai, particularly in suburban areas like San Kamphaeng and Hang Dong, with prices ranging from 20 to 30 million baht. These locations are not far from Myanmar, and buyers often prefer privacy over living in large ethnic communities.

This year, it is anticipated that the demand for Thai real estate from Myanmar nationals will continue to rise, particularly if the security situation does not stabilize. The purchases are expected to be driven more by genuine demand rather than speculative investments.

Data from: The Real Estate Information Center (REIC)