Myanmar nationals overtake Russians in Thai property market

THURSDAY, MAY 16, 2024

Ownership titles of 3,938 condominium units worth a total of 18.02 billion baht were transferred to foreign buyers in the first quarter of this year.

The Real Estate Information Centre said on Thursday that the number of units sold to foreigners and the value had risen by 4.3% and 5.2%, respectively, compared to the same period last year.

The centre said Chinese nationals topped the list of foreign buyers with 1,596 units worth 4.57 billion baht. Coming in second were Myanmar nationals, with 392 units worth 2.21 billion baht being transferred to them.

Coming in third were Russians, who bought 295 condo units worth 924 million baht.

The centre said Chinese buyers accounted for 41% of foreign buyers, while Myanmar and Russian buyers constituted 10% and 5%, respectively.