Japan to Fund Housing Loans in Myanmar

• 30 March 2019
• Local News
• 3136 Views

The Japanese government has been in talks with the government of Myanmar to provide to housing loans at a low rate of interest to allow property to be purchased by low-income buyers, according to Eleven Myanmar.

“Although the government already sold the apartments to people who made full payment at the time of purchase, it is under negotiation with the Japanese government to reduce the interest rate from 13 percent to 8.5 percent for the people who want to buy the apartments under mortgaged loan,” Nilar Kyaw, regional minister for electricity, industry and transportation told the Myanmar regional parliament.

The Sales Management Committee for Public Housings in Yangon Region is supervising the sale of low-cost and affordable apartments, numbering around 703 and 161 apartments, respectively. Of the 6,020 applications for the units made by last April, 722 have been found eligible to buy.

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