According to real estate agents in Mandalay, the current drop in Kyat value is causing the rise in purchase in the market.

Ko Wana Soe says that right now, land plots going as high as 100 million Kyats are being bought and sold are in Chanmyatharzi, Pyigyi Tagon as well as Ye Mon Taung in Mahar Aungmyay.

"The prices are stable but transactions are happening because people are opting to purchase land that they feel is more reliable because of the whole bank thing. There is a lot of demand and sales are happening but the price isn't rising. We have to usually negotiate over the issue of those selling wanting cash but those buying want to pay via bank transfer," said Ko Wana Soe.

He further goes on to give examples of different types of land plots at different locations, further stating that it is happening as more and more people are losing faith in the depreciating Kyat.

While sale and purchase of real estate is occuring frequently, the rental market still remains stale.