fbpx

Buyers in Singapore snap up US$6 million worth of Myanmar property

Myanmar citizens based in Singapore snapped up US$6 million worth of apartments and condominium units in Yangon at a two-day real estate fair held in the city state earlier this month. Hosted by iMyanmarHouse.com, Myanmar’s largest online property portal, the expo has been held at least once a year in Singapore since 2015 and targets […]

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 […]

Colliers Property Report – Myanmar Service Apartment Quarterly Q4 2018

SUMMARY & RECOMMENDATIONS Competition is anticipated to gradually intensify as supply is estimated to double in the next two years. This will perhaps be more noticeable in the upscale segment. Meanwhile, the entry of higher quality projects in 2018 has already driven rents towards more competitive levels. Despite the price correction, affordability remains a key […]

Supply of housing units to rise, spur more development

Despite a rise in the number of housing units provided by the government and private sector, the gap between supply and demand for affordable homes in Yangon is widening as the population expands, Daw Aye Aye Latt, MD of Chantha Shwe Myay Construction Co, told Myanmar Times during an exclusive interview. To address the shortage, […]

Demand from education providers jolts real estate market

The Yangon real estate sector has received a much-needed boost from an unlikely source: education providers. Since foreigners were permitted to wholly invest in the provision of educational services in the country earlier this year, demand for high-standard condominium and office units has surged. This is because education investors find leasing or buying condominium or […]

M-development Corp signs Chanmyashwepyay project in Mandalay

M-development Corporation (Myanmar) Co has signed a Build, Operate and Transfer agreement with the Mandalay City Development Committee (MCDC) to upgrade the Chanmyashwepyay (Kywesekan) Bus Terminal over a period of 50 years, at K3 billion per year. The terminal will be upgraded in accordance with international standards and built to function like an airport. Targeted […]

Japanese companies flock to Myanmar

Japanese companies are trying to court Myanmar’s growing middle class. On Dec. 29, Honda Motor opened its 115th motorcycle dealership in the country, in Myitkyina, the capital of the state of Kachin. The Japanese company opened five dealerships in Myanmar in December alone — all in smaller cities. The total number was up 40% from […]

Tender to be held for Thilawa SEZ condos

Subscribe to our tender alert mailing list Speaking with The Myanmar Times on November 18, director of Myanmar Thilawa SEZ Holdings (MTSH) U Nyan Thit Hlaing said a joint venture system will be in place for the construction of the condo complexes. The 80-acre residential zone inside the SEZ will also include hotels, housing for […]

Yangon official takes fresh aim at high-rise projects

A yangon official known for his outspoken views has publicly criticised two high-rise projects, including a Singapore-backed condominium, and says he has imminent plans to target several more. U Khin Hlaing, an executive member of the Yangon City Development Committee, has a history of campaigning against real estate projects . Last year, he was one […]

Parliament passes condominium law

Mired in legislative gridlock until the dying days of the outgoing government, the condominium law finally squeaked through parliament on January 22 after years of back-and-forth argument between the upper and lower houses. The president still has to approve the law, but in principle foreigners will now have the right to buy up to 40 […]