Myanmar Condo Rentals Take Fall to Houses

• Proeksa Meas
• 13 November 2017
• Construction Focus
• 2258 Views

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.