Local property buyers investing overseas

Local property investors may not be buying much property in Myanmar at the moment, but a growing number have been snapping up units overseas.

Sai Khun Naung Real Estate Company and Singapore-based real estate broker DWG will be holding an exhibition of luxury condominium properties from Thailand, Malaysia, UK and Japan for those interested in investing in the residential property markets of these countries.

The exhibition will be held on August 18 at Yangon’s Sedona Hotel from 1pm to 6pm. U Sai Khun Naung, the founder and director of the eponymous real estate agency, said a total of 13 luxury condominium projects will be showcased with eight from Thailand, one from Malaysia, two from UK and two from Japan. The properties are priced from K120 million to K700 million.

He added that people from Myanmar were very interested in Bangkok luxury condominium properties. “Thailand is major destination for Myanmar people because there is no visa requirement, easy to travel and also good for shopping,” he said, adding that there were also many options for education and health.

The exhibition will also feature a property forum on why people should invest in condominium properties abroad. U Sai Khun Naung also recommends Japan but visas were not readily available. “Japan has very high living standards and good security,” he noted.

Meanwhile, DWG’s Ma Su Mon said buyers can put down an initial down payment of 30 percent for the property with the rest to be paid after the project has been completed.

“We’ll apply for 10 years visa for those who invests in condominiums in Malaysia,” she said. DWG will also assist the buyer in getting a loan from an international bank.

U Sai Khun Naung said the properties being showcased were located in popular areas of major cities where buyers’ property rights will be secured. “These properties have all the hallmarks of quality, design and security for buyers,” he added.

Source: Myanmar Times

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