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.

Despite sustained foreign interest in Thailand’s condo market, Chinese and Russian investments have slowed. Chinese acquisitions fell 14.3% to 5,670 units, with transaction value plunging 22.2% year-on-year, reflecting China’s economic slowdown and geopolitical uncertainties.

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.

A Bangkok Post report from January highlighted that Myanmar nationals ranked second in condominium purchases in Thailand during the first nine months of 2024. According to Surachet Kongcheep, Research and Consulting Director at Cushman & Wakefield Thailand, Myanmar buyers briefly paused purchases in April before resuming soon after.

The transfer of condominiums to Myanmar buyers is expected to reach a new record in 2024, with total purchases in the first nine months already surpassing the 2023 record. The Real Estate Information Center (REIC) reported that Myanmar buyers acquired 1,050 units worth 5.46 billion baht during this period, a sharp increase from 564 units (3.7 billion baht) in 2023 and 349 units (2.55 billion baht) in 2022, as detailed in the Bangkok Post report.