Myanmar Real Estate Stabilising

• Proeksa Meas
• 30 March 2017
• International News
• 3774 Views

Myanmar’s real estate sector is stabilising after heated growth and industry experts believe the market will now become stronger.After the lifting of sanctions and the subsequent influx of international investment earlier in the decade, wild real estate speculation resulted in an overheated market.A 2016 government moratorium on permits for buildings over 9 storeys effectively cooled the market and halved the number of construction projects.While this immediately dampened overall economic growth to 1.3 percent below the 7.8 percent World Bank prediction, experts believe that stable future growth in real estate, buoyed by political stability, is realistic and beneficial.Yangon has 6,000 luxury condo units but closures of units have fallen from 80 to 50 percent since 2013.