Many tenants are moving to suburban areas due to soaring rents in central Yangon, according to residents.
The average monthly rent in Hledan Township has rocketed to Ks180,000 this year from Ks120,000 last year and Ks60,000 in 2011.
“I cannot afford to pay the rent. I have to spend all of my salary on it. So I plan to move to Hlegu,” said Aye Aye Thin of Hledan.
“Rents are being driven up by an influx of tenants. I have to pay Ks150,000 a month for a ground floor apartment,” said Than Than Aye of Thaketa Township.