August 19, 2016

YCDC to sell affordable housing units to low-income families

A view of the Yangon skyline.—Photo:Aye Min Soe
A view of the Yangon skyline.—Photo:Aye Min Soe

Yangon, 24 July — Yangon City Development Committee is planning to develop affordable housing units for low-income families, including those of industrial zone workers, an official said Friday.
The YCDC City Planning Department official said the project will help the low-income households buy accommodation by installment. In order pay the installments, they must earn at least K300,000 per month.
Housing demand has soared in Yangon, rising from 20,000 units in 2000 to around 30,000 units in 2015, according to a YCDC survey of industrial workers and those who do not own homes.
Meanwhile, housing units worth around K10 million each are being developed in Yangon’s outskirt townships of Hlinethaya, Dagon Myothit and Shwepyithar for people who cannot afford homes and workers in industrial zones, according to YCDC.
The homes will be sold under a lottery system, which will draw from individual applications for housing.
The housing development will add 1,168 housing units in East Dagon Myothit township, 2,976 units in South Dagon Myothit township, 1,909 in Dagon Seikkan township and 1,200 in Shwepyithar township, increasing the total number of affordable housing units in Yangon Region to nearly 10,000 this fiscal year, according to YCDC.
The development will involve construction of six-storey buildings with eight units per floor. Units will range from 490 to 680 square feet.
More than a quarter of Yangon’s 7 million inhabitants do not own homes. GNLM


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