Rental: The Key to Myanmar’s Real Estate Sector

With the current market situation, the purchase of completed units can be an asset for an early rental and return of investment. Rental can be one of the encouraging reasons for investors to purchase assets in real estate market in Myanmar. According to the Myanmar Real Estate Services Association, rentals in Yangon are very active […]

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 […]

Analysts Say 2016 is the Worst Year for Rangoon Construction Sector

​​ RANGOON — Rangoon’s construction market faced its hardest year in 2016, as a result of changing government policies during a market cooldown, say critical industry observers. During the best development years, 2005 to 2014, high-end condominiums and low-cost apartments sprung up around Rangoon, construction and real estate observers said. As the market neared its […]

Condominium by-Laws Delayed With Govt Targeting Completion by Year’s End

A shortage of technical expertise has delayed the issuance of by-laws that would allow sales under the Condominium Law passed last January, industry sources say. Expectations that the law, which was finally passed after considerable debate and delay, would usher in a spate of foreign purchases of Myanmar real estate have so far proved unfounded. U […]

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 […]

Garment boom raises rents

An increase in garment manufacturing and demand for storage space is pushing up rental prices on industrial land. “Rents in industrial zones that host garment manufacturing and goods storage are up,” Myanmar Real Estate Services Association vice chair U Than Oo told The Myanmar Times this week. “It’s happening in nearly all zones. The rental […]

Informal contracts risk bite buyers

Most property buyers are using informal contracts that fall short of transferring full legal ownership and fail to stand up in court, a senior official from the Internal Revenue Department (IRD) told The Myanmar Times. A variety of property purchases – including those of apartments and condominiums – are usually made using informal contracts. But […]

Rental gap narrows as Yangonites seek suburbia

High rental costs downtown, allied with cramped accommodation, congestion and noise, are driving business and residential tenants out into the suburbs, pushing up rental costs in the leafier areas of the city. Recent strides in the mobile phone and internet industry have made communication cheaper, acting as a push factor toward suburban development, said property […]