Local agents and brokers have indicated that vacant and live-ready apartments and properties are on the market for less than three months.
Competition for limited supply of commercial office space has led to further limiting the strained supply of residential properties as organizations convert large walled-residences into offices.
At Scipio Services, we offer bespoke consultancy and real estate advisory services to you as you seek to establish a home in Yangon, Myanmar. Our consultants have years of experience in Myanmar who work with you to locate your residential properties.
Descriptions of Residential Properties in Yangon, Myanmar
Office space in sole-purposed business towers has become so competitive that many multi-national corporations (MNCs) and large non-governmental organizations (NGOs) have begun occupying larger walled-residences. This movement to residential-then converted office space, has fueled competition for remaining large residences, limited supply, and has created a near-exponential upward trend in market rates.
On the demand side, organizations from the Asian region are ratcheting up their involvement and western organizations are increasingly stepping in ever more frequently as we approach 2015. Given the current near-exponential trend in market rates, we expect prices to continue their trend upward for commercial and even more so for residential at an alarming rate until 2015; though this is largely dependent upon the continued diplomacy, reform process, security situation, and 2015 elections.