CNI News

3 April 2024

In spite of the fact that the price of baht has become higher, rather than a decrease in buying and renting condominium apartments in Bangkok, there has been an increase than the last two years, those who are doing business of buying, selling and renting, told CNI News. 

Buying and renting of condos have increased during the last three months because there has been an increase in selling condos at present, a person who is doing business of selling, buying and renting in Bangkok, told CNI News.

" Because there has been a sharp increase in selling condos at present, Myanmar people who buy the condos have sharply increased at the same time. They have paid reserve money to buy condos. It's not related to the price of baht. The number of people who will attend school are more. They will buy the condos during Thingyan." he said.

A small model of a condo from a Bangkok condo fair

When Myanmar people buy the condos, just a few of them rent their condos, and Chinese citizens tend to rent their condos after they bought three condo apartments reportedly.

Although Myanmar citizens bought only 20 condo apartments in 2020, there were 54 condo flats they bought in 2019 and 48 in 2018, according to the Real Estate Information Center (REIC) of the Government Housing Bank, a Thai State-owned bank.

There has been an increase in the number of Myanmar citizens who enter Thailand since 2022 and buying and renting of condos and houses have increased as well, according to the people who are doing business of selling, buying and renting condos.

Bangkok cityscape

" We rent condos starting from 15,000 to 20,000 bahts per month. Those who rent the condos are the parents whose children who will attend school here or those who will receive medical treatment here. Sales start from 2,000 lakh kyats. Myanmar citizens have paid reserve money to buy the condos. Those who can afford buy condos worth more than ten thousand lakh kyats. There are many agents and brokers. There are also people who buy houses." said an official from a condo transaction and rental business to CNI News.

Myanmar citizens bought 349 condo apartments in Thailand in 2022 and they bought 76 condo apartments during the four months from January to April, 2023, said REIC.

In the list of top countries that purchase high value real estates in the cities of Thailand, Myanmar is in third place after China and Russia and it spent 2.25 billion bahts on real estates in 2023.