The government needs to reduce taxes in order to increase the ownership of houses by every citizens and the inflows of foreign investments, said Managing Director of iMyanmarHouse.com Nay Min Thu, at the property sale festival, at Junction Square on January 12.

Nay Min Thu who is also a founder of the iMyanmarHouse.com, a property website said: “Our citizens will have more property ownership only when the property sector sees development. The government needs to reduce tax rates and develop more low-cost housing projects. In addition, the government needs to redevelop the whole economic sector and encourage the inflows of more foreign investments. Thanks to it, the local property sector will see more growth and citizens will have more house ownership.”

Due to the economic decline, the property sector did not develop as expected. There were the shutdowns of some local airlines and hotels. Most of entrepreneurs injected their investments into the property sector as it bounced back at the end of 2018.  Thanks to the Condominium Law passed in 2018, the property sector is expected to revive, he added.

The nine-acre Myakyuntha project being developed by the DIG company in Pathein will become the biggest and grand project in Ayeyawady Region. It is located at the five-minute distance from the roundabout of Pathein University. These shop houses are adjacent to Junction Square Shopping Center Pathein which has a total area of more than 2,000 square feet, he continued.

This project will become the most crowded place in Ayeyawady Region. Investors should make investments in it. For the convenience of buyers, the company will sell them under the two-year installment system.