Reducing Low-Cost Housing Instalment in The Works

Discussions are ongoing to reduce the initial 30-percent requirement to 20pc for low-cost housing instalments, said U Win Zaw, managing director of the Construction and Housing Development Bank. “We started discussing the amount for down payments which a buyer has to pay. We are trying to reduce it to 20pc and to get finance for long-term loans. If lenders can give […]

Timber export volumes may fall when new regulation introduced

Export volumes may fall when new regulation introduced The MyanmarTimes has reported that a spokesperson from the Ministry of Natural Resources and Environmental Conservation, U Win Zaw, has said the volume of timber that can be exported is likely to decline beginning May this year. The news item says “Only timber cut from logs sold […]

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 […]

Industry banks add to sector’s risk

With each new approval of an industry-focused bank, Myanmar’s banking sector becomes riskier. Instead of creating more banks, Myanmar should streamline its existing institutions to minimise the chance of a banking sector crisis, according to international advisers, who have warned the government against the systemic risks created by sector-specific banks. However, despite an already crowded […]

Low-cost housing winners out of luck

Over 100 people may be out of luck after winning rights to purchase low-cost housing from Shwe Lin Ban project in Yangon’s Hlaing Tharyar township, according to Daw Thida Than, a staff officer at the Department of Human Settlement and Housing Development. A total of 768 different units at Shwe Lin Ban were meted out […]

CHDB pushes for funding for plans to finance mortgages for homeowners

Home ownership may be a common dream, but financing purchases of admittedly expensive homes continues to be an obstacle. The Construction and Housing Development Bank was set up in 2013 under the Ministry of Construction’s supervision to providing the loans that could allow more people to afford homes, but so far its success has been […]