Myanmar condo rentals take fall to houses

Myanmar condo rentals take fall to houses

Rentals of condominiums to foreign tenants have taken a fall in the first half of 2017 as the market becomes saturated and the renters increasingly seek detached houses. 

Condo rental transactions have fallen by ten percent in 2017 according to a report in the Myanmar Times. Demand for rentals from foreigners and families is shifting to detached homes which can usually rent for between USD3,000 and USD4,000 a month and supply in this sector is increasing, especially in Yangon. Foreigners occupy 80 percent of rental condos and detached houses in the nation.

“The decreasing [rentals] this year is happening for the first time,” he said. “I don’t foresee it climbing back up,”Htoo Myat Naing, a real estate agent with Estate Myanmar told the Times.

Latest Issue

Construction & Property Magazine title=Issue # 031

Stay Connected

Camcona
Campu Lunpac
Comin Khmer
ETS Cambodia
LCC
SCG
MULTICO
Ocean
Seara Sports Engineering and Creation Asia (Cambodia) Co., Ltd.
TEM
TPC
Wiki
Rinnai
Kansai Paint
Cambodia Business Partner
Camcona Group
KRock
Plus Enterprise
United Mercury Group
Muhibbah Engineering (Cambodia) Co., Ltd
Dynamic Scientific Co., Ltd
CBMS
BMSC Business Machines & Supplies Center
Business Machines & Supplies Center (BMSC)
home.58cam
UPG Cambodia
Fuxin Steel Buildings co. ltd
Phnom Penh Precast Plants co. ltd
Legrand
Sika Cambodia
Group Four
Sokea Garden
ISI PALM co., LTD
Star 5 Condo
Diamond Glass
Schwing Stetter India
YY TYY Taiwan