Real estate experts expect to enjoy good progress this year, as market activities emerge from a cooler economy in Yangon, Mandalay and Nay Pyi Taw, according to House.com.mm.
Rental business is moving again in Mandalay. There is good demand for apartments and land for foreigners and their businesses, according to local real estate agents.
So, experts expect the real estate market in Mandalay will progress in 2017.
The owner of Hein Htet Soe real estate agent told the website: “Currently, the gold price, dollar price and the price of cars are getting high. Therefore, people are interested in investing in real estate. There is demand to buy blocks of land valued under 1,000 million kyat.
“Demands to buy range from Ks300 million to Ks600 or Ks800 million – in 78st, 62nd, 19st and Manawhary Streets. We hope the prices in Mandalay get as high up as 10 per cent within three months.”
The real estate market in Nay Pyi Taw also appears to moving up, as in Yangon and Mandalay.
A real estate agent said: “Real estate prices in Nay Pyi Taw will increase in the long term.”
Nilar Lwin, from Home Dream Catcher, said: “Market stalls in Myoma Market, located in Zabbuthiri Township, and Thabyay Gone Market have reasonable demand and supply for rent, rather than sale and purchase.”
Demand for real estate in Nay Pyi Taw last year was lower than supply, which suggests prices will be steady or rise there.
Translated by Thet Mon