Real Estate Market to Pick Up in July

Despite a slow start in 2015, the real estate market was seen making a comeback by the end of March and is predicted to pick up by July, according to industry experts.

U Nay Min Thu, marketing director of iMyanmar, an advertising agency for real estate and property across Myanmar, said, “The real estate market was static at the start of the year because the market was being watched due to the Yangon elections. Business will be normal again in the middle of July.”

Compared with the last year, the real estate business was down 50 percent although the rental market has risen 15 percent, he said.

U Sai Khum Naung, managing director of a local real estate legal advisory firm, said, “There will hopefully be small deals under K500 million. Any deals higher than that seems impossible at the moment.”

Industry insiders say foreign investors are also taking a wait-and-see approach when it comes to investing in real estate with the approaching of National Election of 2015, which is set to have a significant impact on the market.

Source: Myanmar Business Today

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