The Yangon property market has remained stable in terms of sales following the Thingyan festival period, according to sources within the Yangon Region real estate market.
Since the third week of April, sales activity in Yangon’s housing, land and apartment market has stabilized. Properties listed at inflated prices higher than their actual market value have seen very few transactions, while buying and selling have continued at normal price levels, indicating a stable market condition.
“After the Thingyan period, transactions in Yangon’s housing, land and apartment market have been normal and stable. Properties offered at excessively high prices, beyond their realistic value, are no longer attracting much interest. At present, apartments priced between K100 million and K400 million are seeing transactions. Above that range, no matter how good the location or the quality of the building, sales are not taking place. Currently, the market is mainly active among buyers and sellers who genuinely need liquidity, those selling land to purchase apartments, and people buying for actual residence. As a result, transactions remain steady,” said Daw Aye Aye Mar, Chair of the Shwe San Eain Real Estate Agency in Thingangyun Township, Yangon Region.
In addition, the rental market is reportedly active, with increasing numbers of people from various states and regions moving to Yangon Region and staying temporarily. Rental prices are being adjusted approximately every six months.
In townships across Yangon Region, apartment rents in well-located areas with good transport links have been rising by around K50,000 to K100,000 every six months. In such areas, demand is so high that prospective tenants often have to pay deposits in advance and wait for availability, indicating a strong rental market.
ASH/MKKS
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