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SG Myanmar property prices on the up, says Myanmar official

Property Here - Monday, July 15, 2013

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As Myanmar buyers continue to flip properties, prices in the country will continue to head north in the few more years to come, said Presidential Adviser U Aung Tun Thet.

“We’ve seen that property price have reached twice the prices of neighbouring Thailand,” he said during a recent property seminar, highlighting an increase in industrial zone prices.

While there is no bubble in the Myanmar property market, daily flipping - where buyers acquire and dispose off properties on the same day, is expected to continue and potentially lead to increased prices.

In the condo market, rental prices are predicted to rise above Bangkok levels due to the low supply of serviced apartments and condo units in central Yangon. The high property prices could be attributed to the reforms introduced by the current government.

“Sanctions are easing on Myanmar and this is the major factor attracting investors to the property sector,” the presidential adviser said.



Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg