Once a rich man said “Buy Assets, Not Liabilities” as it says, real estate assets became one of top-tier investment in later days.
Real Estate Interests in Thailand: A Growing Trend in Myanmar
In recent years after the military coup in Myanmar, many nationals have been increasingly investing in real estate in Thailand, seeking both financial security and a higher standard of living. The emerging interest in Thai properties among Myanmar citizens can be attributed to several key factors, each shedding light on the motivations and trends in this growing real estate market.
Types of Interest: Investment and Family Living
Myanmar nationals have two primary interests in Thai real estate: investment and family living.
Investors: Individuals, often aged 35 and above, who split their time between Myanmar and Thailand are primarily property investors. Their main motive is to safeguard their wealth by investing in a stable currency. The fluctuating nature of the Myanmar currency and the economic and political uncertainties drive them to look for more stable and appreciating assets. Thailand, with its rising real estate market, offers a lucrative opportunity to invest and diversify their portfolios.
Family Living: On the other hand, individuals aged 30 and above, residing in Thailand for employment or business purposes, tend to be property buyers aiming to provide their families with a higher standard of living. The primary motive for them is to elevate their family’s living standards and provide a secure and comfortable environment for their loved ones.
Location Matters: Urban Convenience
Location is a top priority for these investors and buyers, especially in downtown areas such as Pratunam, Phetchaburi, Pra Khanong, On Nut, Rama 9, and Rama 4. The emphasis is placed on accessibility and proximity to urban amenities, as many of these individuals are drawn to the convenience of city living.
Price Range: Diverse Options
In terms of budget, Myanmar investors generally spend between 1.5 million Baht to 5 million Baht for one-bedroom properties, while two-bedroom properties can go up to 8 million Baht. This range allows for a variety of investment options to cater to different financial capabilities.
Unit of Measurement: Square Feet
Myanmar investors typically use square feet as the unit of measurement when assessing real estate properties in Thailand, which helps them understand the space they are purchasing with more familiarity.
Engaging with Agents: Navigating Complex Processes
Navigating the complex real estate processes in a foreign country is no easy task. As a result, many Myanmar property investors and buyers prefer engaging with real estate agents to facilitate these transactions. The knowledge and expertise of local agents prove invaluable in ensuring a smooth process and reducing potential risks for the buyers.
Agent Fees: Costs to Consider
However, it’s worth noting that these agents often charge a high percentage for end-to-end processes, making the overall investment more expensive. This can range from 3% to 5% of the property’s value, and sometimes even more for premium properties. Despite the cost, investors and buyers find it a worthy expense to ensure a secure and well-executed transaction.
Rental Market: High Demand
It’s important to note that the property rental market in Thailand is in very high demand. Myanmar investors who are not looking to settle permanently in Thailand often opt to buy properties for rental income. The strong demand for rental units, particularly in the urban centers, ensures a steady source of income for these investors.
Other Property Types: Beyond Condos and Apartments
Apart from condominiums and apartments, Myanmar nationals are also interested in townhouses and villas, provided they adhere to Thai laws and regulations. These property types offer more space and privacy, making them attractive options for families or those looking for a different lifestyle.
With many more factors, Thailand stands out as a prime real estate destination and offers distinct advantages over its regional counterparts. Its thriving tourism, stable economy, strategic location, and government support make it a top choice for investors. Without a doubt, the competitive quality of trustworthy property developers is another reason behind Thailand’s real estate superiority, highlighting the opportunities as it presents.
Property Developers: Trust and Brand Popularity
Among many normal to luxurious properties in Thailand, here is the list of some well-known property developers that are quite familiar with Myanmar buyers.
- Ananda Development
- AP (Thailand)
- Asset Wise
- Land and Houses
- LPN Property
- Noble Development
- Origin Property
- Raimon Land
- SC Asset
- Siamese Asset
To conclude, the real estate interests of Myanmar nationals in Thailand reflect a growing trend driven by a desire for financial security and an improved quality of life. While the investment process may be complex and agents may charge high fees, the appeal of Thailand’s property market remains strong, particularly in key downtown areas. As Myanmar’s economic landscape continues to fluctuate, these investments are likely to play an increasingly significant role in the region’s real estate sector, providing opportunities for both investors and those seeking a higher standard of living.
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