The Yangon City Development Committee (YCDC) has taken temporary ownership of 496 apartments in Yangon, and leased 238 units to government employees. Now the committee will raise the rental fees by 10 percent starting with the beginning of 2020 Fiscal Year, according to U Maung Maung Soe, Mayor of Yangon. When a legitimate owner of […]
Myanmar initiates low-cost housing for squatters in Yangon
August 30, 2019 by
Myanmar’s Yangon regional government has initiated a project of developing apartments on state-owned land to tackle the issue of squatters and the project will be implemented in September, according to the office of the regional government on Wednesday. “The regional government will offer a long term installment payment plan to squatters to help them purchase […]
Yangon govt plans to build about 10,000 apartments each for squatters in six townships
August 15, 2019 by
Yangon Region government is planning to implement housing projects for squatters with about 10,000 apartments each in four Dagon townships and Hlinethaya and Shwepyitha townships, said Chief Minister Phyo Min Thein at a seminar on Slums and Informal Settlements in Yangon “The Way Forward” held at Summit Parkview Hotel in Yangon on August 5. “We […]
Rental transactions rise in Yangon, even as larger market stays muted
May 13, 2019 by
The market for rental property, which is the lifeblood of the real estate sector in Yangon, rebounded during first quarter of this year, with more units getting rented out rather than sold. However, the overall environment of the property market remains muted, industry analysts and leaders said. Late in April, the rental of apartments in […]
MI signs MoU with foreign insurance companies for housing projects
September 7, 2018 by
Myanmar Insurance (MI) signed a Memorandum of Understanding (MoU) with Japan, Germany and Malaysia to cooperate on insurance services for the construction of one million housing units to be developed by the Ministry of Construction, at Myanmar Insurance on August 28. Dr Sandar Oo, Managing Director of Myanmar Insurance said: “The country needs to develop […]
Mandalay city to seize low-cost apartments flipped by owners
September 4, 2018 by
The Mandalay City Development Authority will seize apartments that have been resold and re-rented in low-cost housing buildings for squatters, a senior city official has said. U Kyaw San Myint, a member of the authority, said his office is compiling a list of people occupying the buildings on Strand Road west of Mandalay city. City […]
Property market to remain cool for now
May 15, 2018 by
Property market will continue to remain cool in the short run though it may become active beyond 2018, said Nay Min Thu, managing director of iMyanmarHouse.com, a local property website. “Dwindling property market may revive if there is a massive inflow of foreign investments into the market later in the year,” he added. There will […]
Singapore to invest $316m in housing
July 20, 2017 by
The Myanmar Investment Commission (MIC) has allowed two Singapore companies to invest over US$316 million in two Yangon housing projects, according to the Directorate of Investment and Companies Administration (DICA). “A Singapore company will invest US$35 million in a housing project and another firm will invest US$280 million in a separate project,” said an official […]
