Rental market in South Okkalapa Township booming

The quiet township of South Okkalapa is currently experiencing an increase in tenants and the rental market is starting to look interesting, said real estate agents. Compared to other townships, South Okkalapa has fewer residences and is typically an orderly and quiet township. As such, many people are now moving here, said U Yan Aung, […]

Draft condominium bylaw to be ready in two months

The condominium bylaw which is currently being drafted will be enacted soon, and it will include the right for the buyers to be connected to banks and purchase with an instalment system, said U Min Htein, director general of the Department of Urban and Housing Development (DUHD) under the Ministry of Construction. “As it’s a […]

Government guarantees needed for large investments in real estate sector

Government guarantees on investments and policies are required before Yangon and the rest of the country can secure the capital needed to develop large-scale megacity projects, real estate experts said. Although foreign investors have mostly been keen to invest in the attractive Yangon real estate market, they mainly stay away from lucrative megacity development projects […]

By-Laws Necessary for Condo Market to Pick up Steam

​​ To improve the lacklustre selling market for condominiums, officials need to enact condominium by-laws soon, said developers such as U Kyaw Kyaw Naing, managing director of iGreen Construction Company Limited. Although the Condominium Law was enacted during the last week of January 2016, by-laws have not come into effect until recently. The condo-selling market […]

Lack of safety measures threatens shopping malls

Despite Myanmar’s softer-than-expected growth, there are still fairly visible developments compared to the years before 2010. A rise in the number of shopping malls is a striking testimony to the recent economic changes of Yangon. This trend has intensified since 2012, when plush shopping malls started reaching beyond downtown into other areas of the city. […]

Listing Brings Few Benefits for Construction Sector for now

​​ There is only one listed construction-related firm on the Yangon Stock Exchange (YSX) at the moment. Joining the YSX will not boost the construction companies to raise capital for real estate projects in the short term. KBZ Bank deputy managing director U Bo Bo Wai Maung said that local construction companies should consider joining […]

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 […]