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 […]

Speculation squeezes potential gains from Dala property

  The launch of new infrastructure projects often sees property prices surge in the surrounding area. But prices in Dala township, where a bridge will be built to connect the area to Yangon, were pushed so high in the past by speculation that the market has remain unchanged. The Korean-funded project was launched in Dala […]

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 […]

Myanmar fishermen protest Thai hires

The hiring of Thai helmsmen on Myanmar fishing boats has been criticised by the local fishing industry. Two Myanmar companies last year hired Thai captains on the grounds that they were familiar with the use of sonar to find fish. The issue has long been contentious. Faced with opposition by local fishermen, the Ministry of […]

Hmawbi residents in the dark over new city

Hmawbi township feels a long way from Yangon. Located just beyond the city’s northern limits, it is well known for supplying vegetables and fruit to the markets in Myanmar’s commercial capital. The main roads are busy but the area is rural and underdeveloped. Its tallest buildings are two six-storey towers beside the Hmawbi Myot Ma […]

Staff protest sackings from Bagan hotel

Angry staff at a Bagan hotel say they will hold further protests unless five sacked colleagues are reinstated and given compensation. The workers were fired from Bagan Hotel River View on March 8 for leaking confidential information on “service money” paid to staff members, according to the secretary of the Bagan labour union, who was […]

Govt plan aims at tempering market

Realtors say they welcome government plans to create a comprehensive policy to rein in runaway property prices. Land values particularly in Yangon and other urban areas have been increasingly rapidly each year since the 2010 political reforms opened up the country’s economy, and some analysts now say local property prices rival developed international markets like […]

Draft town plan to stabilise runaway prices: minister

Land speculators could get their fingers burnt if town planning rules prevent the construction of certain types of building on their property, a government minister has warned. U Soe Maung, Union Minister for the State President’s Office, says that city zoning could help stabilise land prices. Yangon land prices have soared since the introduction of […]

Fishing industry to cut Thai lines

Thai fishing boats will not be able to trawl Myanmar’s territorial waters from March 2014 when a current agreement expires, a spokesperson for the Myanmar Fisheries Federation said in a meeting last week. The decision follows a workshop held by the Ministry of Livestock and Fisheries concerning Thai fishing rights in Nay Pyi Taw last […]

Fishy business: industry urges against Thai deal

Representative of Myanmar’s fishing industry are lining up against renewing a contract to allow Thai firms to trawl in Myanmar’s waters in return for cash payments. The deal expires in March 2014, but many industry players say the agreement’s time has passed as it was initially implemented in 2004 to generate revenues in foreign currency […]