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, […]

Draft condominium bylaw to be ready in two months

The condominium bylaw which is currently being drafted will be enacted soon, and it will include the right for the buyers to be connected to banks and purchase with an instalment system, said U Min Htein, director general of the Department of Urban and Housing Development (DUHD) under the Ministry of Construction. “As it’s a […]

Citizens working overseas expected to boost demand for condo market

Real estate portal Shwe Property will be hold their first real estate expo in Singapore this month on August 26 and 27, targeting Myanmar citizens working in the city state. “It’s the first Shwe Property Expo catered to the Myanmar people working in Singapore. “Currently we have already over 1,350 registered visitors who are all […]

Government guarantees needed for large investments in real estate sector

Government guarantees on investments and policies are required before Yangon and the rest of the country can secure the capital needed to develop large-scale megacity projects, real estate experts said. Although foreign investors have mostly been keen to invest in the attractive Yangon real estate market, they mainly stay away from lucrative megacity development projects […]

Sales of apartments booming thanks to instalment payments

Instalment housing under K30 million are experiencing strong sales within the real estate market, according to U Yan Aung, general manager of Asia Construction. “Within the market, sales of instalment housing in the lower price range, ranging from around K10 million, are booming. The majority of the people are purchasing normal apartment units with an […]

By-Laws Necessary for Condo Market to Pick up Steam

​​ To improve the lacklustre selling market for condominiums, officials need to enact condominium by-laws soon, said developers such as U Kyaw Kyaw Naing, managing director of iGreen Construction Company Limited. Although the Condominium Law was enacted during the last week of January 2016, by-laws have not come into effect until recently. The condo-selling market […]

YESC Stepping in to Provide Electricity

​​ Yangon Electricity Supply Corporation (YESC) has pledged to support the electricity infrastructure for developers in Yangon. On August 12 last year, the YESC announced that all developers applying for a Building Completion Certificate (BCC) from Yangon City Development Committee (YCDC) would need to determine whether or not the building required the installation of a […]

Lack of safety measures threatens shopping malls

Despite Myanmar’s softer-than-expected growth, there are still fairly visible developments compared to the years before 2010. A rise in the number of shopping malls is a striking testimony to the recent economic changes of Yangon. This trend has intensified since 2012, when plush shopping malls started reaching beyond downtown into other areas of the city. […]

Listing Brings Few Benefits for Construction Sector for now

​​ There is only one listed construction-related firm on the Yangon Stock Exchange (YSX) at the moment. Joining the YSX will not boost the construction companies to raise capital for real estate projects in the short term. KBZ Bank deputy managing director U Bo Bo Wai Maung said that local construction companies should consider joining […]

Construction and Real Estate Sectors Pin 2017 Hopes on New Legislation

​​ The construction sector will be glad to see the back of 2016 – a year in which a political transition, a high-rise review and a volatile currency conspired to leave many developers battered and bitter. But there were also signs of a fragile recovery in the real estate market, and new laws set to […]