Myanmar’s Property Market Is Set To Boom – Don’t Miss Out!
Whether you are seeking investment, residential or commercial property in Myanmar, unique opportunities are available as Myanmar’s economic reforms continue.
Whilst you currently cannot buy property in Myanmar, this will change when a proposed condominium law passes in the near future.
In the meantime, an understanding of the Myanmar property market will help you understand what’s available and how to secure commercial property, residential space or investment opportunities.
Myanmar Property Basics
Until recently, Myanmar’s property market was dormant. Cut off from the world and financial systems we often take for granted, property was – for many Myanmar people – the only viable option for investment.
As the country starts to re-engage with the outside world, there has been a surge in demand for Myanmar property of all types; residential, commercial and investment. Myanmar’s limited supply of suitable property, however, is insufficient to meet this new hunger for space. A rapid increase in asking prices has resulted.
There is a particularly acute shortage of commercial property in Myanmar. International-standard office space is limited; the little Grade-A commercial available was quickly taken up by foreign businesses that came to Yangon in late 2011 and early 2012. In some cases, prices per square foot in Yangon for commercial space in Yangon’s premium business towers rival New York and may price some potential entrants out of the market.
New construction projects may ease demand and increase supply, but won’t necessarily reign in asking prices for leases.
Myanmar’s Property Market Presents Obstacles – But Also Rewards
There are many considerations unique to Myanmar that one must consider before taking out a lease on a property. A trusted local advisor, satisfactory due diligence and an understanding of both you or your organization’s objectives as well as Myanmar’s property market and what’s on offer are essential to ensure that you properly secure the right property at the right price.
By taking care of your property requirements in Myanmar in this way, you or your organization can focus on what matters – being a part of this magnificent country’s success story through business and investment.
Learn more about properties in Myanmar
If you want the best introduction to Myanmar’s property market available today, you need Scipio’s Myanmar Property Market Report.
The report summarizes the current state of the Myanmar property market and looks at future trends.
You will gain a snapshot of the current market, which will help inform you of the considerations and decisions for you or your organization when it comes to operations or investment in Myanmar.
Discover the answers to these questions:
- Why is real estate so expensive in Yangon? How did the asking prices increase to the current level, and how much higher will they climb?
- What should we budget for our footprint in 6 months’ time? Where in Yangon do I want to locate?
- Is this just a bubble, and will prices drop in a couple years? Will the upcoming supply fill the demand gap?
- Where should I speculate? Can foreigners invest in property? What about the condominium law?
…and much more.
Written by Scipio’s team of locally-based property experts, this report is essential reading for an overview of the market, how it got to this point and the potential future direction of real estate in Myanmar as the country continues to open up and advance economic reform.
Discover how to avoid price increases of up to 46% at renewal and make the most of the develop, investment and economic opportunities that await those who seek to be a part of this wonderful country’s story. Request your free report to find out more.
“[This report] very nicely addresses the real estate situation here”
– Dan Harris, Attorney at Harris & Moure, pllc