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Mortgage Financing, Tourism Infrastructure Key to Real Estate Sector – Myanmar Property Awards Judge

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The third annual Myanmar Property Awards finished accepting nominees this week, with the shortlist due to be unveiled in May next year.

Last year’s ceremony, organised by PropertyGuru, recognised local property conglomerate Shwe Taung Development with the best developer awards, while business magnate Serge Pun picked up the Real Estate Personality of the Year accolade.

Richard Emerson, one of nine judges for the awards, said Myanmar’s tourism infrastructure “is critical to sustain the real estate market in 2017, as well as fleshed-out economic policies.”

He added: “Access to mortgage financing is goingto be key and proper implementation of therecently approved Condominium Law is needed. Right now there are a lot of foreign investors coming in – and there clearly is enough demand in the market – but it may not be sustained if Myanmar is not a mortgage market.”

 

Source: Myanmar Business Today
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