By-Laws Necessary for Condo Market to Pick up Steam

​​ To improve the lacklustre selling market for condominiums, officials need to enact condominium by-laws soon, said developers such as U Kyaw Kyaw Naing, managing director of iGreen Construction Company Limited. Although the Condominium Law was enacted during the last week of January 2016, by-laws have not come into effect until recently. The condo-selling market […]

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

​​ 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 […]

Condominium by-Laws Delayed With Govt Targeting Completion by Year’s End

A shortage of technical expertise has delayed the issuance of by-laws that would allow sales under the Condominium Law passed last January, industry sources say. Expectations that the law, which was finally passed after considerable debate and delay, would usher in a spate of foreign purchases of Myanmar real estate have so far proved unfounded. U […]

Condominium Rules to be Finalised in December

THE Ministry of Construction has put concerted efforts to finalise the condominium rules, which will include exact provisions and procedures before the end of December, according to a spokesperson of the ministry’s Department of Urban and Housing Development. The ministry and relevant organisations have been developing the Condominium Law since 2013. It aims to establish […]

Most expats cannot afford to buy condos

According to Ko Ko Htwe, the chairman of Taw Win Construction, most foreigners living in Myanmar cannot afford condominiums, despite the recent law enabling expats to purchase condo properties. Instead, most expatriates choose to stay in normal apartments and, according to Ko Ko Htwe, the market for condo sales is still cold. The Condominium Law, […]

Developers call on banks as Condo Law fails to boost market

The long-awaited Condominium Law passed in the closing days of the last parliament has failed to stimulate the housing market as expected, say industry insiders. They are calling for a system of mortgage lending to be introduced to help would-be buyers. At present, the longest-term loan available is only three or four years, banking sources […]

Boldly going: the exotic ‘frontier’ markets that intrepid investors are tipping for take-off

It was 15 years ago that academics began to predict a shift in economic power from the old order of developed economies to the newly named “Bric” nations. Ever since, Brazil, Russia, India and China have been regarded as the coming powers, blessed with young populations, fast-urbanising societies and natural resources to fuel rapid growth. But the Bric […]

Harnessing investment into Yangon’s development

The construction market has slowed considerably in Yangon over the past year but developers hope that good times for the industry will return under the new government. When the Union Solidarity and Development Party first took power, development boomed, with high-rises, flyovers, bridges and luxury condominiums built at speed, fuelled by both foreign and local investment. For the […]

Yangon realtors call for wide-reaching reforms

Yangon real estate agents are hoping the incoming government can breathe new life into the real estate sector, where sales have slowed over the past couple of years to a near-standstill, condominium units lie empty and a growing number of people areunable to afford basic accommodation. Growth in the sector – and the ultimate goal of providing affordable […]

Yangon’s real estate challenge

After a pause while investors awaited the outcome of elections, the property market in Myanmar’s biggest city is picking up again, but some sectors will do better than others. Myanmar has experienced dramatic changes economically and politically over the past few years. As foreign investors rush to set up shop in the newly open market, […]