More and more Myanmar residents are investing in Phuket real estate. This was told by Carlo Pobre, managing director of the consulting agency KIM Property Consultants, which is based in Yangon, the largest city in Myanmar.
Pobre said that more and more wealthy residents of Myanmar are planning to move to safer and economically stable countries. One of these countries is Thailand.
“A lot of Myanmar families are buying their second home in Thailand for three reasons. First, they want to save their savings by investing in real estate. Secondly, they like the advantages of the local health system. Thirdly, they are attracted by the opportunity to give a good education to their children,” said Carlo Pobre.
According to Real Estate Information Center (REIC), by the end of 2022, Myanmar citizens were in third place in terms of total investments among foreigners - 2.55 billion baht ($74 million). Investors from Myanmar were second only to investors from China.
This year, Burmese continue to buy Thai real estate en masse, preferring condominiums under construction. Experts note that Myanmar residents have made 26% of all real estate purchases at the pre-sale stage. The total amount of their investments in condominiums amounted to 360 million baht ($10.58 million) - this is the second result in the market after investors from China.