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Government to sell affordable housing via balloting system

The government will sell a number of low-cost apartments via a lucky-draw system, rather than a physical auction, to avoid large gatherings amid the
COVID-19 pandemic.

“The list of eligible buyers has already been announced, and the next step will be to draw the names of applicants from a draw. We will invite MPs and relevant
townships administrators to draw the names of applicants out of a pool of names. The event was live-streamed via the Department of Urban Housing and
Development’s (DUHD) Facebook page,” said an official at the DUHD.

The department sold a total of 1,757 units in the Yangon Region. Eligible buyers were customers of the Construction, Housing, Infrastructure and Development Bank
(CHID) who had at least K3 million in a CHID account as of April 31, 2020. Units for sale were at the Shwelinban Housing Project (1) and (2), the Kyansitmin and Htihlaing Shin housing projects on Kyansitthar Street, and units from Kanaung and Yoma projects at Dagon Myothit(Seikkan) and Aung Myint Mo in Dagon Myothit(South).Buyers are eligible for loans from the Japan International Cooperation Agency (JICA), with the DUHD sending out letters notifying applicants of the financing details between 17 and 22 July.

Those who receive letter must apply for the loan in person with the required documents at the CHID.
The current housing loansare granted from the JICA’s Two Step Loan Fund,with an interest rate of 5.5 percent. The loan agreements must finalised before the end of
the 2019-2020 fiscal year. – Translated

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Source : Myanmar Times

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