News roundup: Myanmar big-spenders buy Thailand properties, and other headlines

For PropertyGuru’s real estate news roundup, Myanmar’s big spenders are buying properties in Bangkok, Chiang Mai, and Phuket. In other headlines, Hong Kong’s fireworks attract tourists but chase away wildlife, and AI-powered e-bikes to protect riders from accidents.

Bangkok, Chiang Mai, Phuket attract property buyers from Myanmar

Big-spending buyers from Myanmar have been snapping up more high-end properties in Thailand’s major cities in the past two years, making them top foreign spenders in the property market, according to real estate management company Colliers in a report in The Star.

Karlo Pobre, Colliers’ deputy managing director, said that according to the Government Housing Bank’s Real Estate Information Centre (REIC), Myanmar buyers are most interested in properties in Bangkok, Phuket, and Chiang Mai.

REIC reported that buyers from Thailand’s western neighbour spent some THB2.25 billion on Thai properties in 2023, putting them in third place as top spenders, behind Chinese and Russian buyers, he added.

Fireworks may attract tourists to Hong Kong, but they are known to cause severe distress to wildlife

Hong Kong has struggled to return tourism to pre-COVID levels, leading to the government seeking novel strategies for enticing visitors back to the city. One of the recent suggestions is the staging of monthly fireworks displays over Victoria Harbour at the cost of HKD1 million per show, which the government hopes will persuade tourists to “stay an extra night.”

Whether or not the questionable strategy proves successful in terms of visitor satisfaction, we can be sure of one thing: its negative impact on local wildlife, according to HKFP.

Research has shown that birds take flight en masse in response to fireworks displays in Europe. Birds have also been recorded flying so far out to sea during fireworks displays that it would be impossible for them to make it back to shore.

Fireworks displays are known to cause significant distress to household pets including cats and dogs. Hong Kong is a city of pet lovers, with around 35 percent of the population sharing their home with at least one animal.

First-ever AI e-bike aims to protect riders from accidents

Artificial intelligence is transforming many facets of everyday life, including transportation.

New York-based startup Orbic unveiled the world’s first 5G-enabled, AI-powered e-bike. Its main feature is its AI object avoidance system, which alerts riders to potential dangers like oncoming vehicles. The Orbic 5G eBike also has 5G integration, giving users access to real-time maps and a way to connect with fellow e-bike riders.

According to INQUIRER.net, the Orbic electric bicycle’s outstanding feature is its AI hazard avoidance system that alerts riders to potential hazards. It uses a sensor that provides a 140° field of view of the bike’s rear.

The Property Report editors wrote this article. For more information, email: [email protected].