Nearly 20,000 affordable flats slated for next fiscal year

An affordable apartment project in Shwepaukkan Township. (Photo-Nwe’ Yin Aye/EMG)

Nearly 20,000 new residential flats are slated to open in Yangon, Pathein and Mawlamyine in the 2015-16 fiscal year, according to Department of Human Settlement and Housing Development, Ministry of Construction.

The ministry plans to build ten housing projects comprised of 284 low-cost and affordable apartment buildings with a total of 18,360 flats.

The projects will be implemented in crowded suburban areas of Yangon Region such as Dagon Seikkan, South Dagon, Thingangyun, Mingalardon, Thanlyin and Hlaingthaya; in Pathein in Ayeyawady Region; and in Mawlamyine in Mon State.

As the population grows each day, especially in Yangon, living accommodations are in high demand. Soaring land prices also cause difficulties in planning housing projects.

Ironically, the prices of existing low-cost apartments float around Ks 20 million (US$20,000), which is beyond the means of the poor.

The government, therefore, continues to implement affordable housing projects in highly populated areas, some of which are in progress, while others are still in the pipeline.