Yangon too crowded

Urban development specialists say that the increasingly populated centre of Yangon is no longer suitable for more condominiums and offices with its narrow streets. Rapid urbanisation has meant the infrastructure could not support the demands of the rising population. “Ever since British rule, the size of roads was based on the number of inhabitants. Some […]

Informal contracts risk bite buyers

Most property buyers are using informal contracts that fall short of transferring full legal ownership and fail to stand up in court, a senior official from the Internal Revenue Department (IRD) told The Myanmar Times. A variety of property purchases – including those of apartments and condominiums – are usually made using informal contracts. But […]

Downtown condominiums at the front of property boom

Downtown condominium prices are leading the charge for more expensive real estate in Yangon. While properties across the board have increased in the last three years, a large influx of people wanting to move downtown are leading to a climbing market, even as more projects come online, real estate agents say. The most expensive units […]

Rental fees in Yangon still on the rise

The rental fees for houses and apartments in Yangon will be increasing until July, according to the real estate experts. The monthly rent for housings varies between Ks 200,000 to 300,000 (US$200 to 300) for an apartment; Ks 2.5 to 30 million (US$2,500 to 3,000) for a condo; and Ks 4 to 5 million (US$4,000 […]

Condominiums not covered by Condo Law

Nearly all of Yangon’s recently constructed “condominiums” may not qualify as condominiums under the draft Condominium Law, according to Yangon City Development Committee engineering deputy director U Nay Win. The draft law has been submitted to the Pyithu Hluttaw, but it stipulates a condo must be built on freehold land or land that was granted […]

Yangon residence to be showcased in Singapore

Myanmar developer United GP Development will hold a Yangon property show in Singapore this weekend to attract Myanmar nationals living in the city state to invest in a 27-storey luxury condominium located in Bahan township. The 68 Residence mixed-use project will be exclusively marketed in Singapore by Orange Tee, a local real estate agency. The […]

Uneven development stifling Myanmar

Anyone arriving today at Mingaladon Airport and driving toward the center of Yangon would find it hard to imagine that just a few years ago Myanmar was an isolated country – poor, underdeveloped and labeled by the US as an “outpost of tyranny.” At the start of the 21st century there were few cars on […]

Public to Be Consulted on Plan to Save Yangon’s Heritage

YANGON — After nearly a year-long discussion and preparation, a proposed regulation to restrict land-use and protect heritage buildings in Myanmar’s former capital will have a public hearing on Tuesday, according to an architect involved in developing the plan. The zoning and land use strategy would govern the height of new buildings and delineate where […]