Myanmar and Taipei Drive Thailand’s Condo Market Growth

According to a report by Thailand-based The Nation, condominium purchases by buyers from Myanmar and China (Taipei) continue to rise, while demand from China and Russia has slightly declined.

In contrast, buyers from Myanmar and China (Taipei) have emerged as the fastest-growing segments. Myanmar’s condo purchases surged by 146.1% to 1,388 units, with transaction value climbing 89.8% to 7.04 billion baht, driven by shifting regional investment trends. Meanwhile, the purchases by buyers from China (Taipei) enjoying Thailand’s visa-free policy has spurred a 57.1% increase in purchases to 836 units, with transaction value rising 47.8% to 4.3 billion baht.

The latest report revealed that Myanmar nationals were the second-largest group of condo buyers in Thailand in the first nine months of 2024. Surachet Kongcheep, Research and Consulting Director at Cushman & Wakefield Thailand, noted that although Myanmar buyers paused their purchases briefly in April, they quickly resumed. The total number of condo purchases by Myanmar nationals is expected to reach a record high in 2024, surpassing the 2023 total by the end of September. Another report suggested that Myanmar buyers acquired 1,050 units valued at 5.46 billion baht in this period, a significant increase from previous years.