Amid much talk of luring outside investment to Myanmar, Yangon Region lawmakers have indicated that they want to see greater scrutiny of foreign operators of illegal businesses in the commercial capital. Regional MPs yesterday approved a proposal to debate cracking down on these foreign entrepreneurs next week. Parliamentarian U Win Maung (NLD; Hlaing Tharyar 1) submitted the […]
Election Has Speculative Land Purchasers Running
August 24, 2015 by
Investors are closely watching the 2015 elections, as this uncertainty has led the real estate market to slow down over 50 percent from last year, according to an official from the Myanmar Real Estate Service Association. “The market is cooling down due to the election, but we need to watch things carefully after 2015 also,” […]
Govt plan aims at tempering market
August 12, 2014 by
Realtors say they welcome government plans to create a comprehensive policy to rein in runaway property prices. Land values particularly in Yangon and other urban areas have been increasingly rapidly each year since the 2010 political reforms opened up the country’s economy, and some analysts now say local property prices rival developed international markets like […]
Draft town plan to stabilise runaway prices: minister
June 17, 2014 by
Land speculators could get their fingers burnt if town planning rules prevent the construction of certain types of building on their property, a government minister has warned. U Soe Maung, Union Minister for the State President’s Office, says that city zoning could help stabilise land prices. Yangon land prices have soared since the introduction of […]
Condominiums not covered by Condo Law
June 2, 2014 by
Nearly all of Yangon’s recently constructed “condominiums” may not qualify as condominiums under the draft Condominium Law, according to Yangon City Development Committee engineering deputy director U Nay Win. The draft law has been submitted to the Pyithu Hluttaw, but it stipulates a condo must be built on freehold land or land that was granted […]
