Karlo Pobre, Colliers’ Deputy Managing Director, highlighted insights from the Real Estate Information Centre (REIC) of the Government Housing Bank, revealing a strong interest among Myanmar buyers in real estate across Bangkok, Phuket, and Chiang Mai.

According to REIC, individuals from Myanmar invested around 2.25 billion baht in Thai properties in 2023, securing the third position in terms of expenditure, trailing behind Chinese and Russian buyers. Pobre underscored that the average property price acquired by Myanmar nationals is 6.5 million baht, surpassing the figures for Chinese or Russian buyers. This positions them as a promising customer base for property developers, particularly in the post-pandemic era when demand for Thai properties among foreigners is on the rise.

Pobre further observed that Myanmar customers predominantly show interest in luxury condos in Bangkok, ranging from 10 to 20 million baht, favoring locations such as Sukhumvit, Phrom Phong, and Asoke—areas in close proximity to hospitals, international schools, shopping malls, and hotels.

For mid-level spenders from Myanmar, there is significant interest in condos priced at 5-10 million baht in the Aree and Phaya Thai zones, particularly along the BTS/MRT routes. This offers convenient transportation options and lucrative opportunities for rent or resale. Pobre noted that this buyer group, primarily the younger generation, frequently secures prime units during the pre-sale period.

Pobre emphasized the affluent individuals from Myanmar’s interest in luxurious pool villas in Phuket, especially in the Laguna and Bang Thao zones. Units exceeding 40 million baht are often sold out before completion. In Chiang Mai, Myanmar buyers are acquiring detached houses worth 20-30 million baht for retirement or family vacation purposes, taking advantage of the city’s proximity to Myanmar and its comparable facilities and tourist attractions to Bangkok. Popular locations include San Kamphaeng and Hang Dong districts.

Acknowledging political instability in Myanmar as a significant motivator, Pobre highlighted the distinction of Myanmar buyers from their Chinese counterparts, emphasizing a preference for privacy over communal living arrangements, such as those in Chinatown. Property developers should be attentive to this preference when aiming to attract high-spending individuals from Myanmar.