The Real Estate Market’s Status of Myanmar

Myanmar real estate sector was development before 2018 and especially in the start period of NLD administration.
At that time, the real estate market grows like bombing market and both local people and foreign people invest to this market. The price of condo and flat are high and expensive. At that time, the market was increased in demand level.
The real estate and the construction companies are many in Local market. At the time the new government NLD – Aung San Su Kyi’s government, so many foreign investors come to Myanmar Market.
Nowadays, the real estate sector is cool and competitive in Market. Some are closed for debt and some are closed for succumb. Because market was decreased in Demand.

So real estate companies are captivated to the customer with installment, Bank loan and home loan system with long term payment method.
But normal class of Myanmar people get 2500 USD per year, so it is far to buy with installment or something. And foreign investors are also rare to invest in this sector because of the old condo law.
At that old condo law, the foreigner who own the condo, he can own only condo not included the land. If some of weather defense or some of other case, the foreign owner can not for the land. So, that old condo law is not safety for foreign investor.

But on last 6 months ago, Myanmar Real Estate association applied to the government for New condo law for foreign investor. According of new condo law, it may be increase foreign investor. Most of real estate investor will come to Myanmar if new condo law approved.
They are many real estate companies such Shwe Taung Real Estae, Naing Group, Star City, Maggin, Yone Min and other.
There are two famous of real estate platform web portal, the first is iMyanmar House and Shwe Property. Those are real estate platform and user can directly buy and engage with owner via online.
To grow Myanmar real estate sector, the association hardly discuses with member.

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