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Colliers Property Report – Colliers Myanmar Condo Q4 2018

SUMMARY & RECOMMENDATIONS Towards the end of 2018, the citywide take-up rate remained below the 60% mark. Given the relatively poor sales performance of majority of condominium projects in Yangon, we embolden developers to start expanding their target market and introduce more low and mid residences. We predict that lower-tier but modern apartments and condominiums […]

After three years, regulations under Condominium Law firm up

The Ministry of Construction has announced the formation of a management committee to oversee the implementation of regulations under the Condominium Law 2016 and Condominium Rules 2017. In the announcement on January 5, the ministry said the management committee will register new and existing property developments that meet the definitions of condominiums in the country […]

Colliers Property Report – Myanmar Condo Q3 2018

NET TAKE-UP UNCHANGED AMID SLIM VOLUME OF UNITS LAUNCHED SUMMARY & RECOMMENDATIONS Despite the limited number of units launched in Q3 2018, the citywide take-up rate remained unmoved. While we see more legislative efforts slowly taking shape, likely also to regain both buyers and developers’ confidence, addressing the overall affordability concern should primarily drive condominium […]

Rising demand for home loans could stabilise property market

Housing loans and repayments of those loans in monthly instalments have begun to flourish in Myanmar’s real estate market since the beginning of this year, as more construction companies and real estate developers collaborate with banks to make home ownership more accessible. These days, banks are offering home loans at a specified interest rate and […]

Buyers have the upper hand in beleaguered condo market

The Myanmar condominium market has developed considerably on the back of changing demand trends in recent years. These days, buyers are looking beyond location and price. They’re now taking size, nearby amenities and resale value into account when purchasing a new condo. The evolving trends could jumpstart growth in the ailing condo market and mark […]

Construction sector to submit draft Apartment Law to parliament

The Myanmar Licensed Contractor Association (MLCA) has drafted a proposed Apartment Law to address a regulatory gap in the property sector. Its aim is to generate more demand and create a market for apartments in Myanmar. The MLCA’s Apartment Law seeks to regulate apartment buildings developed on land areas of less than 20,000 sq ft. […]

Property developers come under pressure as dollar rises

Property contractors are under pressure from rising costs of building materials as a result of the higher dollar-to-kyat exchange rate. Building machinery and materials such as steel bars, which are imported from overseas, have become dearer to local developers and contractors on the back of the appreciating dollar, which yesterday hit a new high of […]

Policy changes could trigger a new era for Myanmar real estate

Myanmar’s Yangon Regional Government readies a raft of real estate policy changes, including the setting of a benchmark price for properties, set to take effect in the 2018-19 fiscal year. Leading market observers and other industry stakeholders have expressed mixed reactions to the new measure. “With the exception of the affordable housing segment, real estate […]

New retail directive well-received, but raises unanswered questions

Myanmar has taken pains to liberalise its economy and draw foreign investors to become more competitive. Over the past two years, it has rolled out major new legislation including the Condominium Law, Investment Law and Companies Law. This year, it released two new directives opening up the education and retail sectors to full foreign ownership, […]

Property market to remain cool for now

Property market will continue to remain cool in the short run though it may become active beyond 2018, said Nay Min Thu, managing director of iMyanmarHouse.com, a local property website. “Dwindling property market may revive if there is a massive inflow of foreign investments into the market later in the year,” he added. There will […]