Developers face penalties amid construction ban

As a city-wide suspension on high-rise projects continues, developers in Yangon say they will have to pay penalty fees to buyers for failing to complete their projects on time and may be forced to default on their bank loans. Last month Yangon Region government ordered a construction freeze on all projects with nine floors or more, while […]

Sales to rise, prices to fall, say Yangon real estate agents

Real estate is likely to bounce back in 2016 after more than a year of depressed sales, while prices will fall as new supply comes online, said investors and agents. Following a relatively smooth election, the volume of transactions will be “back to normal”, they said, referring to last year when the industry was thriving. […]

Home Ownership Dream Slips Away from Many Yangonites

As the price of real estate in Yangon keeps rising, the dream of homeownership is slowly slipping away for many of Myanmar’s middle-class. Many have been trapped in a cycle of perpetually paying rent, and saving money to buy a home has become more and more difficult. “When I started renting my apartment, I paid […]

Real Estate Deemed Safe Haven as Kyat Tumbles

The free-fall of the local currency Kyat in recent months is having an impact on the real estate market as buyers keep putting their money into properties to hedge inflation, realtors say. Kyat has fallen drastically since September last year – when it was trading around K970 for a US dollar – and was hovering […]

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 […]