CNI News
22 February 2024
The price of real estate in Thanlyin has doubled that of last year because the Thanlyin No.3 Bridge, a bridge over the Bago River, that is being built with the help of Japan and that connects Thaketa Township with Thanlyin Township has been completed more than 90 percent, according to Thanlyin real estate brokers.
A land lot whose price was more than 3,000 lakh kyats in the past has been over 7,000 lakh kyats now, Daw Juu Juu from Juu Juu Real Estate told CNI News.
" Because of this bridge, real estate sales increased. The sales in Thanlyin are more than other places. We had to provide service for about six times of sales this month. In comparison with the real estate prices in north Dagon, the prices in Thanlyin are still low. So, many affordable persons are coming and buying real estate in Thanlyin. They don't make a loss. A land lot whose price was more than 3,000 lakh kyats in the past has been over 7,000 lakh kyats now. Its area is 4,800 square feet (80'-60'). A land lot that was paid over 3,000 lakh kyats about 10 months ago can be sold at over 7,000 lakh kyats now. I provided service to buy that land lot at at 3,150 lakh kyats at that time." she said.
The Clock Tower in the center of Thanlyin
More transaction took place at Aung Chan Thar, Myoma Zay, Myo Haung Wards and the area outside the town that have permit, slip and grant land lots and the price of a land lot (20'-60) including house is from 1,000 to 6,000 lakh kyats reportedly.
In addition, the price of real estate in Thane has increased more than last year and more transaction also is taking place this year. There are almost no land lots in Aung Chan Thar Ward, heart of Thanlyin reportedly.
Gardening land and farm land are less traded, but these lands are worth about 200,000 to 300,000,000 kyats. So, those who can afford a small amount of money are selling those land lots, said real estate agents.
Thanlyin's flagship 'Kyaik Khauk Pagoda'
Due to the scarcity of grant land in and around Thanlyin City, and but because of the abundance of permit and slip land, a person who want buy a land lot should buy it only after consulting with a skilled lawyer and inspecting data regarding the land ownership at the land registry office, Daw Myo Thwe, a real estate agent, told CNI News.
" Those who will buy land lots should go and carefully inspect what kind of land is at the land registry office together with a skilled lawyer. Most of land lots are grant land in north Dagon. There are not a lot of grant land in Thanlyin. Permit and slip land lots are more. As the prices become higher, it's necessary so as not to be wrong in buying land lots." she said.
If the building of No.3 Bridge was finished, transportation would be smooth because the traffic jams that were taking place on the No-1 Briidge would be resolved. And then, investments local and abroad would increase in the Thanlyin Special Economic Zone.
