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May 25, 2020

Wanna buy flats in Yangon?

These days there is a growing concern among construction entrepreneurs over down in the price of apartments as there have been mushrooming of flats but the number of buyers is very low.
According to an official from property service association, there arose disputes of land ownership and apartment in 2014. As buildings constructed illegally were not allowed to grant permit for residents and orders were issued to demolish building under construction illegally, the property business was freeze.
Apartment culture has spread in Yangon since 1990 from downtown area to the suburban area. One of the residents residing near Sanpya market in Thingangyun township, suburban area of Yangon, said that there left only three houses in the whole street and the remaining are new apartment buildings, but most of them were vacant. Nobody wants to buy the flats but just to hire them. If business goes in this way the property price will be down, said an estate agent.

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