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July 08, 2020

Rental market active in Yangon real-estate market

The real estate market in Yangon is leading in downtown than other towns. Photo: Phoe Khwar
The real estate market in Yangon is leading in downtown than other towns. Photo: Phoe Khwar

Only the rental market is active in the Yangon real-estate market, according to U Sai Khon Naung, chairman of Yangon Region Real-Estate Entrepreneurs’ Association.
“The rental market is leading in six downtown townships, as well as outside the downtown area. Some are renting as residences while others are renting to open companies and shops,” he added.
The rental price of a house in the downtown area costs between Ks180,000 and Ks300,000 per month, depending on the floor level and room condition. The rental price of a condominium costs between Ks1.5 million and Ks2.5 million, depending on the location and floor level.
The rental price of a house outside the downtown area costs between Ks65,000 and Ks150,000. Most people rent houses for six months, 10 months or a year. Few people are renting rooms that require deposits.
These days, people are renting rooms for the long term, because if they want to stay another year, they have to make a new contract, as well as pay the broker, said a renter who lives in Mayangone Township.—GNLM

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