Despite restrictions on crossing China's borders, Chinese citizens still dominated apartment purchase transactions in Thailand last year, the number of Myanmar citizens who bought apartments in Thailand increased and reached TOP-10 for the first time for economic and political reasons.
Economic and political problems have forced wealthy citizens of Myanmar to seek housing in safer and more stable markets, especially in Thailand, which is a neighboring country.
According to the Real Estate Information Center (REIC), the number of apartments in Thailand bought by Myanmar residents has increased more than sixfold to 188 units in the first nine months of 2022 from 30 in 2021 and 26 in 2020.
This led to the fact that Myanmar citizens became the seventh nationality in the ranking who bought the most apartments in Thailand in the first nine months of 2022 — for the first time they entered the top ten since REIC began collecting data in 2018.
According to REIC, the average price per unit of apartments bought by Myanmar citizens was also the highest among those bought by foreigners — 7.1 million baht, followed by Taiwanese citizens — 6.3 million baht and French citizens — 6.3 million baht.
According to REIC, Chinese citizens represented the nationality that bought the largest number of condominiums in Thailand during the first nine months of 2022, although this share decreased from about 60% to 48.9% compared to last year.
According to the data for the first 9 months of 2022, a rating of countries whose citizens bought the largest number of apartments in condominiums in Thailand was announced:
- China 3,562 (the average price for an apartment is 5 million baht)
- Russia 420 (3.2 million baht)
- US 375 (4.3)
- Britain 267 (4.6)
- Germany 231 (3.1)
- France 228 (6.3)
- Myanmar 188 (7.1)
- India 172 (4.5)
- Australia 160 (5.2)
- Taiwan 134 (6.7)