Construction slows down in Yangon

The number of building projects in Yangon fell from 600 to 400 per month between November and December, according to the Building Department under the Yangon City Development Committee. “The rate dropped in these two months. We had to permit only 400 projects last month,” said an official from the department. Many people blame the […]

Foreign ownership provisions in draft condominium law questioned

Foreigners’s ability to own condos has emerged as one of the central issue in the debate over the condominium law. The much-anticipated condo law has been a work in progress for years, with the most recent draft submitted to parliament in June. The draft is set to be discussed again by the Amyotha and Pyithu […]

Inflation Expected to Rise as Myanmar’s Economy Grows

YANGON — While observers are positive about the economic outlook as Myanmar enters a new fiscal year, the Asian Development Bank (ADB) and the International Monetary Fund (IMF) both predict rising inflation, pushing the cost of living up for the country’s mostly poor population. The ADB on Tuesday released its annual Asian Development Outlook report, […]

Insein alternative to downtown property market

The residential property market in outlying Yangon townships Insein and Shwe Pyithar is often overlooked but offers more spacious and affordable housing than downtown condos, real estate experts said. Frequently shunned by renters wanting to be closer to the hectic downtown grid, the northern townships of Insein and Shwe Pyithar boast landed property available for […]

Dagon: the new property darling of Yangon

As the international eye of investment turns to Myanmar, the correlating influx of both expats and Myanmar professionals are finding a home on the outskirts of Yangon in the new Dagon townships. The cramped and noisy conditions, coupled with skyrocketing property prices and a dearth of car-parking, are pushing people away from downtown and turning […]

Yangon forbids demolition of historic buildings – Yangon Heritage Trust

New investment will be allowed in Yangon’s commercial areas but demolition of historic colonial-era buildings will be forbidden according to the Yangon Heritage Trust. With Myanmar opening up, foreign investors have been eyeing Myanmar’s hotels and tourism industry and they are particularly interested in the downtown area, where many colonial buildings are located says Yangon […]