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Buyers in Singapore snap up US$6 million worth of Myanmar property

Myanmar citizens based in Singapore snapped up US$6 million worth of apartments and condominium units in Yangon at a two-day real estate fair held in the city state earlier this month.

Hosted by iMyanmarHouse.com, Myanmar’s largest online property portal, the expo has been held at least once a year in Singapore since 2015 and targets Myanmar citizens, said U Nay Min Thu, managing director of iMyanmarHouse.com.

Myanmar property developers including Golden City, Kanbae Towers, Riverfront Garden, The Leaf Residence, SMT Construction, Royal Theikdi Condominium, The Grand Hill Garden Residence, Ayar Chantha Executive Condominium, Grand Wireless Condominium, Shwe Myanmar Mya Minicondo, Real Home Residence and iGREEN Development marketed apartments, condos and landed bungalows worth between K20million and K500million at the expo, U Nay Min Thu said.

Separate fairs are held on a monthly basis for individual construction companies.

“Almost every expo enjoys a good level of sales. The expos enable local developers and construction companies to market their units in Singapore. At the same time, it is also a convenient platform for buyers to purchase or invest in properties in Myanmar while living abroad,” U Nay Min Thu said.

For iMyanmarHouse.com, the international property fairs are also a good strategy to generate demand and boost sales of Myanmar property.

Currently, iMyanmarHouse.com has more than 2.3 million local and foreign users. The website cooperates with more than 2300 real estate agents and more than 600 construction companies.

SOURCE: MYANMAR TIMES

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