Myanmar citizens actively purchasing properties in Thailand

21 Nov 2024 CW Team

Buyers from Myanmar have been actively purchasing condominiums in Bangkok and other parts of Thailand, offering a rare boost to the kingdom's struggling real-estate market. This trend reflects an effort to move funds out of an economy severely impacted by civil war.

The Real Estate Information Centre (REIC) reported that Thai condominium sales to Myanmar nationals in the first nine months of 2024 had tripled compared to the same period in the previous year. This made Myanmar buyers the second-largest group of foreign purchasers, following those from China.

REIC’s acting director-general, Kamonpop Veerapala, commented that during times of conflict in neighbouring countries, foreign nationals often look to Thailand as a peaceful haven.

Between January and September 2024, more than 1,000 condominium units, valued at 5.46 billion baht, were sold to Myanmar nationals, according to REIC data. Myanmar, which shares a 2,500-km border with Thailand, has been experiencing political and economic instability since a 2021 military coup disrupted a decade of gradual democratic and economic reform, triggering widespread violence.

The country’s currency, the kyat, has also faced significant depreciation, driving up the cost of essential goods. The World Bank projects Myanmar’s economy to grow by just 1 per cent in the current fiscal year.

In an effort to curb the kyat's volatility, Myanmar's junta took legal action in June, charging five individuals for purchasing Thai condominiums. While foreign property purchases were not previously prohibited in Myanmar, the junta is now tightening controls to limit foreign currency outflows.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..