Farmland has been converted into residential property in Ye township, Mon state, resulting in brisk sales.
“Previously, local people used to grow seasonal crops. They grew rubber, betel nut and lemon. But the local growers do not get a good price on indigenous crops. So the local people have moved out and changed their business,” said Daw Mee Chit, a realty agent.
Although agriculture is the main industry in the township, the local people are investing in the banking system, tourism and trading sectors with the result that the residential lands are selling well.
In the downtown area, apartments are being sold for Ks400 million these days. Ten years ago, they were sold for only around Ks10 million. Flats out of town are available at a price of Ks10 million or more.