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Foreign rentals crucial to property market during rainy months

Renting to foreigners is one of the few pockets of support for the local property market, which is undergoing a multiyear slowdown that began in 2015. Real estate agents noted that given the slowdown in residential property sales in recent years, any support to the market can be noticeable, especially during the rainy months of […]

Squatters May Hurt Mandalay Land Values: Realtors

Squatting on vacant land is widespread in Mandalay, which may impact real estate values, say real estate agents. Squatting is most common in uninhabited areas but has now spread to vacant land, said U Wunna Soe of Phoe La Min Real Estate Agency. “We cannot limit specific squatting spots in Mandalay. If the place is vacant, […]

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, […]

Squatters Reject IDs, Say They Own Land

More than 100 squatter households in Insein township are yet to collect their identity cards despite an announcement made by the township administrators to collect them. U Tun Lwin, Sin Ngu ward administrator in Insein township said, “From June 20 to 26, we issued ID cards to those who have been listed as illegal residents […]

Hlegu Lures Speculators

​​ Speculators with their eyes on Hlegu township are turning the area into a property price hotspot, according to real estate agents. The property market in Yangon has been notoriously sluggish in recent years, but speculators are making an exception of Helgu, said Daw Thuzar May, director of Thit Sar property real estate agent. Real estate agents […]

Election Has Speculative Land Purchasers Running

Investors are closely watching the 2015 elections, as this uncertainty has led the real estate market to slow down over 50 percent from last year, according to an official from the Myanmar Real Estate Service Association. “The market is cooling down due to the election, but we need to watch things carefully after 2015 also,” […]

A taxing matter for the real estate sector

Will the assessment scheme halt soaring land prices? Real estate agents say a government move to generate more taxation revenue from property transactions has assessed the value of land, houses and apartments in Yangon at about 40 percent of market prices. The reaction follows the release by the Ministry of Revenue and Finance in September […]