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Yangon blighted by housing woes

There’s no doubt many Yangon residents want to own their own home in the city as soon as possible, especially those with families or planning to start one. But for many city folks, the prices of new housing units, even those classified as low-cost housing, are beyond their reach given the current state of the […]

MI signs MoU with foreign insurance companies for housing projects

Myanmar Insurance (MI) signed a Memorandum of Understanding (MoU) with Japan, Germany and Malaysia to cooperate on insurance services for the construction of one million housing units to be developed by the Ministry of Construction, at Myanmar Insurance on August 28. Dr Sandar Oo, Managing Director of Myanmar Insurance said: “The country needs to develop […]

Sales of apartments booming thanks to instalment payments

Instalment housing under K30 million are experiencing strong sales within the real estate market, according to U Yan Aung, general manager of Asia Construction. “Within the market, sales of instalment housing in the lower price range, ranging from around K10 million, are booming. The majority of the people are purchasing normal apartment units with an […]

KB Kookmin Bank signs MOU with Myanmar’s Construction and Housing Development Bank

SEOUL, Feb. 17 (Yonhap) — KB Kookmin Bank, a major South Korean bank, has signed a memorandum of understanding with Myanmar’s Construction Ministry and its state-run Construction and Housing Development Bank, KB Financial Group said Friday. Under the deal, KB Kookmin Bank plans to provide financial support to Myanmar’s plan to expand houses for its […]

New housing project in Mawlamyine estimated to produce about 2,000 units

The Urban and Housing Development Department under the Ministry of Construction plans to implement a new housing project in Mon State estimated to build about 2,000 new units.   The department submitted a proposal to the Mon State government in September to carry out the housing project on vacant plots in the east of Mawlamyine- […]

Government low-cost housing event to be held in October at MICT Park

A low-cost housing event will be held from 21st to 23rd October at MICT Park in cooperation with the Department of Human Settlement and Housing Development and the Construction and Housing Development Bank. The low-cost housing event, led by House.com. mm, includes low-cost apartments implemented by the government under a 100-day project. The low-cost housing […]

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 […]

Housing project prices spark public anger

The price of apartments in Myanmar’s largest housing development project, which will be sold to buyers later this year, has been met with anger from the public. Low-cost housing is being built in Dagon Seikkan township in Yangon. StaffLow-cost housing is being built in Dagon Seikkan township in Yangon. Staff The 120-acre Ayeyarwon development project […]

Low-cost housing should be first priority

Myanmar is well behind target on delivering low-cost housing units to the people who need them most, according to developers. While authorities have commissioned several affordable projects in Yangon, the country’s commercial city still faces a housing shortage, said Cyrus Pun, head of real estate at Yoma Strategic Holdings. He said the government should focus […]

Low-cost housing winners out of luck

Over 100 people may be out of luck after winning rights to purchase low-cost housing from Shwe Lin Ban project in Yangon’s Hlaing Tharyar township, according to Daw Thida Than, a staff officer at the Department of Human Settlement and Housing Development. A total of 768 different units at Shwe Lin Ban were meted out […]