As buyers in Myanmar continue to flip properties, the country’s prices will continue to head north in the next few years, noted Presidential Adviser U Aung Tun Thet.
“We’ve seen that property prices have reached twice the prices of neighbouring Thailand,” he said at 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 of properties on the same day, is expected to continue and could lead to higher prices.
In the condo market, rental prices are predicted to rise above levels seen in Bangkok due to the low supply of serviced apartments and condo units in central Yangon. The property price surge could be attributed to reforms introduced by the current government.
“Sanctions are easing on Myanmar and this is the major factor attracting investors to the property sector,” the adviser said.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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