Apartment rents in Myanmar rise by 10 to 35%

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yangon propertyResidential rents in Yangon are up by 10 to 35 per cent in comparison to last year, according to a real estate market survey.

Rents for apartments increased by 10 per cent and condominium leases jumped by 35 per cent. The rent varies in accordance with location and residential quality.

“Property owners are asking for higher rent based on quality of houses and apartments. Rental fees for flat and condo are higher than the ones from last year. The rent for flat at Yazana Garden City has also gone up. The rent increase coincides with the arrival of Buddhist Lent,” said Sai Li from Asia Land Real Estate Agent.

The sale prices for flats in Yangon also increased. The price range is from 20 million to 25 million kyat. The price for flats in Dagon Seikkan (Yuzana) Township soared to more than 10 million kyat.

Detached houses have also become more expensive. Land price in the industrial zone saw 35 per cent increase as the Thilawa project is expected to be completed by 2015, according to sources.

Office rents in Yangon are also on the upward trend. Myanmar is now billed as one of the countries with highest rental charges in the region.

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Reading Time: 1 minute

Residential rents in Yangon are up by 10 to 35 per cent in comparison to last year, according to a real estate market survey.

Reading Time: 1 minute

yangon propertyResidential rents in Yangon are up by 10 to 35 per cent in comparison to last year, according to a real estate market survey.

Rents for apartments increased by 10 per cent and condominium leases jumped by 35 per cent. The rent varies in accordance with location and residential quality.

“Property owners are asking for higher rent based on quality of houses and apartments. Rental fees for flat and condo are higher than the ones from last year. The rent for flat at Yazana Garden City has also gone up. The rent increase coincides with the arrival of Buddhist Lent,” said Sai Li from Asia Land Real Estate Agent.

The sale prices for flats in Yangon also increased. The price range is from 20 million to 25 million kyat. The price for flats in Dagon Seikkan (Yuzana) Township soared to more than 10 million kyat.

Detached houses have also become more expensive. Land price in the industrial zone saw 35 per cent increase as the Thilawa project is expected to be completed by 2015, according to sources.

Office rents in Yangon are also on the upward trend. Myanmar is now billed as one of the countries with highest rental charges in the region.

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