All’s Quiet for Property Market

The last two years of lacklustre performance in the property market has indicated a limited potential for transactions to take place this year, according to real estate agents. “Yangon’s property market doesn’t seem to be improving because we don’t see good potential for this year. “At first, we thought that 2017 would rehabilitate the country’s […]

Lump Sum Rent a Growing Problem for Tenants

​​ As rents in the commercial capital rise, the longstanding arrangement of paying six months’ or even a year’s rent upfront is increasingly a burden to Yangon’s residential and business tenants. U Soe Win Maung, who lives with his wife in a rented apartment on 40th street in Kyauktada township, said he cannot afford the one-time […]

In Yangon, upfront rents stretch tenants, small businesses

YANGON — As rents in the commercial capital rise, the illegal but common practice of landlords demanding six months’ or even a year’s rent upfront is stretching Yangon’s residential and business tenants to breaking point. Mr Soe Win Maung runs a roadside Shan noodle shop and stays with his wife in the top-floor loft of […]

Yangon realtors call for wide-reaching reforms

Yangon real estate agents are hoping the incoming government can breathe new life into the real estate sector, where sales have slowed over the past couple of years to a near-standstill, condominium units lie empty and a growing number of people areunable to afford basic accommodation. Growth in the sector – and the ultimate goal of providing affordable […]

Few ‘condos’ qualify under new law, say experts

The new condominium law – which will grant international buyers access to Myanmar’s real estate market for the first time – has been widely welcomed, but experts say just a handful of properties are initially likely to be eligible. After years of debate between the two houses of parliament, the law was passed on January […]

Real estate agents warned off dirty money and foreign buyers

Real estate agents have been asked to watch out for attempts to launder money through the property sector and to avoid selling to foreigners or speculators. The Myanmar Real Estate Services Association (MRESA) recently met with international anti-money laundering organisations to discuss the ill-gotten funds that are reportedly laundered through the property sector, said U […]

Condominiums not covered by Condo Law

Nearly all of Yangon’s recently constructed “condominiums” may not qualify as condominiums under the draft Condominium Law, according to Yangon City Development Committee engineering deputy director U Nay Win. The draft law has been submitted to the Pyithu Hluttaw, but it stipulates a condo must be built on freehold land or land that was granted […]