July 01, 2017

Breaking News

Price of land near new Thanlwin Bridge rise tenfold

LAND prices near the Thanlwin Bridge project in Chaungzon, Mon State have increased tenfold during the past few years, ever since it was learnt thata bridge would be built across the Thanlwin River, linking the island of Belu Kyun with mainland Myanmar for the first time, residents said.
“The price of land has risen quickly to a very high level within two or three years,” said Ko San Maung, a real estate agent residing in Mawlamyine Township, adding that the majority of buyers are from other regions and states.
Entrepreneurs are eyeing locations near the project area to purchase land in order to implement hotel projects, deep sea port projects, resort projects and filling stations. Those businesspersons continue to buy land in downtown Chaungzon, Daye Village and other parts of the town.
Depending on location, land prices in Chaungzon Township were between Ks1 million and Ks3 million per acre before the bridge project began in 2014.
Currently, the price for an acre of farmland near the approach road to the bridge under construction has reached a high of Ks100 million.
Ko Win Ko, a resident, said that he has no plans to sell his property but is monitoring the market condition as the property may be priced too high after the project is completed.

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