The real estate market in Myawaddy, along the Myanmar-Thai border, has surged, with property values in Ward 5 reportedly tripling compared to last year.

Flood-resistant areas have seen even steeper increases, with prices rising fivefold. “I bought land three years ago for 80 million kyats, and now there’s a buyer offering 300 million kyats,” shared a resident of Ward No. 3, noting the steady, significant rise in property values.

 "Selling now could mean losing out on future gains, as prices continue to double or triple annually,” said a local of Myawaddy.

In Myawaddy’s urban neighborhoods, street-side property values have soared into the tens of thousands of kyats, while plots in newer, forest-adjacent areas on the city's outskirts are now priced between 10 million to 100 million kyats.

A real estate agent highlighted that the highest-demand areas are along Sugar Cane Road on Myawaddy’s south side, with other sought-after spots like Aung Sitthe Road in Veterans Ward also seeing sharp increases.

"Plots priced at 40 to 50 million kyats last year are now being traded for around 20 million kyats," the agent noted.

The expansion of a casino and job opportunities in the south of Myawaddy have contributed to rising property demand, with rents for homes and shops more than doubling in some areas, making it challenging for locals who rely on renting.

The impact of the casino development, along with restaurants relocating from the Tachileik has spurred an influx of residents despite delays in border trade due to the closure of the new Asia Road, causing a shake-up in Myawaddy’s real estate market.