The Real Estate Information Center (REIC) has reported that more Myanmar nationals are seeking second homes in Thailand in 2022, while Chinese nationals still dominated condo transfers in Thailand despite the Covid-19 travel restrictions in China.
According to the REIC report for 2022, Chinese citizens received the most condo transfers in Thailand during the first nine months of 2022, despite the proportion reducing from around 60% to 48.9%. Citizens from Russia, the United States, and the United Kingdom came in second, third, and fourth places, respectively.
The REIC data also shows that the number of condo units transferred to Myanmar nationals increased by more than six fold in the first nine months of 2022, from 30 in 2021 to 26 in 2020. This resulted in Myanmar nationals becoming the seventh largest nationality receiving condo transfers in Thailand in the first nine months of 2022.
Karlo Pobre, managing director of the Yangon-based CIM Property Consultants Co, stated that families in Myanmar are looking for secondary residences for a variety of reasons, including investment, improved healthcare, and future educational opportunities for their children. The reopening of Myanmar’s airports in June last year also contributed to the growth in the first nine months of 2022.
The managing director also noted that Bangkok was the most popular city for Myanmar residents to purchase a condo unit as a second home, with the Sukhumvit area being preferred due to its accessibility to transit lines, healthcare services, and educational institutions. (NNT)
