doing business in myanmar – what you need to know as a singaporean
After setting new property valuations for the city, the Mandalay Region government has set new assessed values for condominium and apartment building transactions for 2019-2020.
The new valuation covers condominiums and apartment buildings in Mandalay’s Chan Mya Tharsi, Aung Myay Tharzan, Pyigyitagun and Chan Aye Tharzan townships.
The new rates set a maximum amount of K183 million (US$118,500) and a minimum of K149 million for units on the first to sixth floors in a condominium tower A in Chan Mya Tharsi’s Myo Thit 1 ward.
For 1200-square-foot rooms in Aung Myay Tharzan, the new assessed value is K10 million to K20 million on the ground floor and K37 million to K51 million on the 10th floor.
For 1200-square-foot apartments in Chan Aye Tharzan, the new assessed value is K37 million to K51 million on the ground floor and K11 million to K20 million on the 10th floor.
“Most people in Mandalay live in houses, so there is not much demand for apartments here, and the prices don’t fluctuate much,” said real estate agent U Pyu. – Translated
Source : Myanmar Times
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