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 […]

Car park regulations are stunting the Yangon condo market: Colliers

While the passing of the Condominium Law and its related rules is positive for the condo market in Yangon, the city’s car park regulations are the biggest barriers to growth in the market, said Mr Tony Picon, founder and director of Colliers International Myanmar, during a recent seminar on the Condominium Law and Rules hosted […]

Demand for Condo Market Still Weak, but Apartment Sales Rise Fast

Sales and rental demand for condominium properties in Yangon remain weak even though the Condominium Rules have been released for almost two months now. The list of rules, which were released in December, two years after the new Condominium Law was approved, include allowing foreigners to own up to 40 percent of the total floor area […]

Real Estate Sector to Pick up on Back of Foreign Demand

Demand in the Myanmar real estate market is expected to pick up in 2018 now that the rules to the new Condominium Law have been released. Under the new rules, property investments by foreigners are expected to spike, said U Aung Naing Oo, secretary of the Myanmar Investment Commission. The rules, which were released in […]

Foreigners Allowed to Buy Jointly-Owned Condominium Apartment in Myanmar

YANGON, Jan. 2 (Xinhua) — Foreigners have been allowed to buy jointly-owned condominium apartment following the new rules under the Condominium Law announced early last month, said legal expert U Naing Lin Zaw Tuesday. In an interview with Xinhua, U Naing Lin Zaw clarified that the minimum requirements for a condominium project are to build […]

Prices of condo apartments fall by 20-30 % in Yangon market: real estate agents

U Nay Min Thu, managing director of iMyanmarHouse.com, a property website, said the commercial city of Yangon saw a 20 to 30 per cent decline in the prices of condominium apartments in comparison to 2013, according to a report of the Myawady Daily issued on Saturday. “Now the country’s property sector is facing a market […]

Delay in Companies Law Negative, but not Surprising

Implementation of the long-awaited Companies Law will be postponed until August 2018, Reuters reported Monday, citing top officials from Myanmar’s Directorate of Investment and Company Administration (DICA). Myanmar will delay implementing a new law that would have allowed foreign companies to take up to a 35 percent stake in local companies, bringing about badly needed reforms for […]

New Condominium Rules allow more flexibility for foreigners

Foreigners will be given more flexibility to invest in the local property sector, according to new rules under the Condominium Law announced Thursday. The Condominium Rules are the final steps of the implementation of the Condominium Law, which was approved last year. The rules, which were signed by the Union Minister for Construction on December […]