Central Bank to limit payments to only the kyat

The Central Bank of Myanmar is moving to strengthen the kyat’s use in the local economy, eventually pushing the country’s hotels, restaurants and shops to list prices only in the local currency. It has issued a letter directed at government ministries and regional governments, stating they must use only local currency for charges as well […]

Myanmar high on energy

Long-term outlook in oil & gas exploration is intact despite global oil price woes Some players in Myanmar’s oil and gas industry are optimistic that oil and gas exploration and production activities in the country would continue as expected, despite oil prices slumping to five-year lows. The local industry will thrive due to low output […]

Rubber producers optimistic about future despite price freefall

Rubber exports are on pace to double by 2016 even as plunging prices hit the international market, according to experts. Prices for sheet rubber fetched 120 baht (US$3.66) a kilogram in Thailand in 2011, but by last week had dropped to 51 baht a kilogram – the lowest in five years, according to Bangkok’s Rubber […]

Myanmar’s rice volatility keeps many farmers poor: World Bank

Myanmar’s rice volatility is the highest among net rice exporting countries in Asia, preventing rice farmers from earning high profits and keeping many families at or close to the poverty line, according to the World Bank. The World Bank’s research team focused their study on Manawthukha and Pawsan rice varieties locally consumed from 2004-2013 in […]

Myawady border trade down by US$12 million

The Myawady town on the Myanmar – Thai border has recorded over US$33 million in total trade volume over the last two months, according to the department of commerce and consumer affairs. US$2.8 million has been earned from Myanmar exports and over US$30 million had spent on imports between April 1 to May 30 this […]

Foreigners prefer stand-alone houses over condos, estate agents say

Foreigners are expressing a preference for renting detached houses rather than condominiums or apartments, as catering to foreign clients becomes a growing market for Myanmar real estate agents. Detached houses are appealing to their foreign clients who are more concerned that the house is well built and well decorated than with how impressive the location […]

Finding a detached home with a fair price

Asking K2.3 million a month to rent a fully detached house is a tall order in Yangon’s property market, but that’s what the owners of this 4000 square foot house on a 7225 sq ft compound in Thingangyun township is seeking. This large two-storey house is built in an older style, boasting three master bedrooms, […]

Skyrocketing real estate prices deter new foreign investment in Myanmar

Skyrocketing real estate prices could deter new foreign investment that enters Myanmar, officials and economic experts warned on Saturday. The construction project of the Yangon-Dala River crossing bridge will be suspended during the current government’s term as commercial real estate booms in urban Yangon, Dala township, President Office Minister U Soe Thein told a press […]

Myanmar retail rental rising

The rising price of rent for Yangon’s street-level shops is being driven by an influx of potential tenants, with some locations demanding six-fold increases from two years ago, store owners say. They said that rapidly rising rental costs are eating into their profits, but constant demand for prime locations is expected to keep commercial rents […]

Yangon More Expensive Than Manhattan Sparking Boom: Real Estate

Sean Danley has spent the past six months scouting office space in Yangon after being sent to establish the Myanmar branch of his U.S.-based employer. He looked in the city’s three sole 1990s-era towers, where annual rents have climbed to more than $100 a square foot, compared with less than $75 in downtown Manhattan, according […]