Real estate fairs go virtual during Thadingyut

al estate fairs go virtual during Thadingyut

The current Thadingyut period is typically one of the strongest times of the year for the real estate sector, with real estate fairs attraction thousands of buyers and sellers.

This year, as a result of the COVID-19 restrictions, those fairs will be hosted digitally for the first time.

Last year’s Thadingyut Expo generated around K30 billion. But this year sales have dropped sharply,” said U Nay Min Thu, managing director of imyanmarhouse.com.

This year’s imyanmarhouse.com’s property sales event will be held with a special promotion for Thadingyut, with properties advertised and sold solely via the company’s website.

During the pandemic the property market in Yangon declined, and many customers have been choosing houses outside of the city, U Nay Min Thu explained.

Many customers interested in city property show an interest for apartments between K20million and K40million. They are also interested in the newer apartments and condominiums at around K80million during the sales events, said U Sithu Phyo, senior marketing manager of Shweproperty.com.

“The developers offer special discounts during the Thadingyut period, making it the best time to put properties on the market. But this year, the transactions have been very slow since the first wave back in March,” he said.

The Shweproperty.com’s property expo is planned to start on October 16, showcasing more than 1,500apartments – including mini condos and condominiums.

“It’s a buyer’s market at the moment. The developers have reduced prices to lure customers during COVID-19 pandemic. Some have reduced prices in order to survive, giving customers an excellent opportunity,” he said.

Source : Myanmar Times

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