CNI News

17 July 2024

There are just too many rents in the real estate and apartment without purchase, real estate agents told CNI News. 

Sale prices of real estate and apartments have increased more than those two months ago and because those who invested in real estate and apartments have changed their investments to other businesses, there were just sales but no purchase, a real estate agent in Dala Town told CNI News.

"There are more rentals than sales. It's the same as downtown,too, because more and more households from various regions have entered Yangon. So, the rental market is better than the sale and purchase market. The real estate market in Dala mainly depends on the Dala Bridge over the river. But it will take several days to finish the construction of the bridge. Moreover, the price of Myanmar Kyat has decreased. Investors are more interested in the businesses where assets can be easily changed into cash such as transactions of dollars, gold and cars." he said.

Currently, there are just a few people who have bought real estate and apartments worth around 1,000 lakh kyats reportedly. Entrepreneurs who build and resell real estate have stopped their business due to higher prices of construction materials reportedly.

Although those who bought real estate before want to sell them at present, investors have turned to other businesses because there is no easy liquidity from the real estate industry, a real estate agent told CNI News.

" Those who want to buy real estate go buy in Thailand without buying in Myanmar. As there are many migrant workers in Tachileik, there are rents there. To the best of my knowledge, Myanmar investors largely buy real estate in Mae Sai, Thailand. There are just a few transactions with full documents in Myanmar. Because of territorial instabilities, investors don't buy so much. Supply is more than demand. The prices don't decrease because the price of Myanmar Kyat has declined. Investors who have bought real estate don't reduce the prices in the hope of a better market." he said.

There are only advance transactions of condo apartments and high rise flats while apartments and houses that have been built are scarcely sold reportedly.

Because of the above-mentioned situations, real estate transaction agents have changed to the rental market reportedly.