CNI News

28 August 2024

Although there were a lot of transactions in the Yangon real estate market when the value of Myanmar kyat declined in the past, but at present because there is a liquidity risk, transactions are few, real estate agents told CNI News.

Generally, one or two lots of land only are being sold and business people have unusually opened many shops, Ko Min Min, a real estate agent, told CNI News.

" Transactions of real estate are just few. Business people are leading to the side where liquidity can be made. Although there are sellers of land lots, there are not many people who want to buy them. Because the land lots are difficult for the liquidity, affordable people invest by buying gold and dollars. Trading of real estate is cold. There is no such thing as selling much lower than the market price. Buyers are also weighing it kind of." he said.

Currently, the real estate rental market is more active and it is also reported that more apartments and houses are being rented in Tamwe, Kyauk Myaung, Tharkayta and Mingala Taungnyunt Townships.

Entrance sign of Yangon that is erected at the triangular traffic island at the corner of the Yangon-Bago Road and the Circular Road

Although selling real estate tends to be more whenever the value of Myanmar kyat declines, when the transaction like that will resume cannot be guessed, reviewed real estate agents.

" There are two conditions regarding real estate in Dala. The first is related to the whole country. When the value of Myanmar kyat is stable, investments will return to real estate. Next, the better the Dala Bridge is, the more interest in real estate in Dala, I think." said a real estate agent.

Although some people who need money urgently try to sell their land lots at the lower price by hundred lakh kyats than the market one, there are very few people who will buy.

Although there are purchases if the locations are good, the purchases are less than before reportedly.