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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 […]

Construction sector under threat from high tax, interest rates

Unreasonably high tax and interest rates could lead to the collapse of Mandalay’s already ailing construction sector, U Shein Win, vice chair of the Myanmar Construction Entrepreneur Association (MCEA) told The Myanmar Times last Friday. Capital gains tax on the sale of a property in Myanmar is currently 30 percent, which is deterring activity in […]

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 […]