Popular Areas in Thailand for Real Estate Purchase from Myanmar Clients

A prolonged political conflict and turmoil has driven many Myanmar people to search for new homes in other countries. From 2017, Thailand has become one of the most popular destinations for Myanmar people to purchase their new home.   

The Real Estate Information Center (REIC) reported a rise in condominium purchase from Myanmar people in 6 Thailand provinces since 2021. The six provinces are Bangkok, Chonburi, Chiang Mai, Samut Prakarn, Phuket, and Tak. The total value is 274 million baht with the average of 9.1 million baht. Myanmar people sought after real estates in Thailand due to the close proximity to Myanmar, familiarity with lifestyle, has visited Thailand before, children attending schools in Thailand, and ease of travel when urgent.       

 

In 2022, real estate purchase in Bangkok remained the most popular with 10 times increase at 311 units (average 7.8 million baht per unit). Followed by Chonburi, 13 units (average 10.5 million baht per unit). The real estate purchase was expanded to 10 provinces including Chiang Mai, Pathumthani, Chonburi, Songklha, Nonthaburi, Tak, Nakornpathom, 349 units and 18,098 sqm in total (average 51.9 sqm, 7.3 million baht per unit).    

In 2023, condominium purchase from Myanmar was 564 units with a total value of 3,707 million baht (average 6.6 million baht per unit). Total unit area was 28,239 sqm (average 50.1 sqm per unit). Myanmar prefers a unit over 50 sqm in size because a large unit size offers better and more convenient living.  

The popular areas to purchase real estate spread throughout Bangkok. The wealthy Myanmar prefer luxury condo, 10 to 20 million baht, nearby hospital, international schools, shopping malls, hotels, and located in Sukhumvit, Prompong, Asok areas. The middle income prefer a condo, 5 to 10 million baht near mass transit such as in Ari, Phayathai for their own living, for rental, and for future capital gain. 

There are groups of Myanmar that purchase pool villas at 40 million baht in Bangtao and Laguna area in Phuket. The condo purchase also gained interest with the average purchase at 6.1 million baht per unit.    

The retirees and clients with family prefer to purchase a 20 to 30 million baht single detached house in suburban areas in Chiang Mai such as Sunkampaeng, Hang dong. These areas are nearby Myanmar. They prefer to live in private and not live in a large ethnic community.  

The real estate demand from Myanmar people is expected to continue rising because the political turmoil prolonged. The real estate demand from Myanmar people is mainly from real demand rather than purchasing for profitability. 

Data from: The Real Estate Information Center (REIC)