Yangon property market holds firm post-Thingyan as rental demand rises

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