More purchase of land plot than that of apartment in Yangon

MOST people are interested in buying real estate instead of buying an apartment in Yangon due to volatility in gold prices and exchange rates, according to U Wunna Tun, a real estate agent.

“The US dollar exchange rate is higher than the government’s set rate. In addition, the gold price is more than K 2 million per tical. Instead of depositing money in the bank, people are eager to buy more estates that will be profitable one day,” he said.

People are more interested in apartments in Yangon for rental and in lands for long-term investment. In satellite towns, the purchase of 20 feet x 60 feet government-grant lands worth between K50 million and K80 million is currently popular. Most buyers put their main focus on satellite towns, such as Shwepyitha, Dagon Myothit (East), Dagon Myothit (South), Dagon Myothit (North) and Thanlyin townships. It is learned that government-grant lands are more solid than “the plots to be granted permit” in terms of ownership.

Source: GNLM

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