September 20
THE real estate transactions in Yangon Region are good despite the high prices, according to the real estate agents.
The gold and US dollar prices are stable recently and property prices have risen drastically, luring the interest of people to buy properties in new city areas.
“Although it is far from Yangon, the detached houses and land can be bought here at fairer prices which are similar to the prices of apartments in developed townships. The buyers like to make the investment in this township which will develop soon. Some make enquiries to buy but they don’t buy it as it is far from the downtown area,” real estate agent Ko Swe Tun from Shwepyitha Township told the Global New Light of Myanmar (GNLM).
Although the apartment prices in townships of Yangon Region are priced between K40 million and K80 million, the house and compound prices in Shwepyitha Township are only K70 million, he added.
The land plot and property sales in satellite towns such as Shwepyitha, Hlinethaya and east Dagon townships are higher than before.
“As the dollar and gold prices are not stable, the people are more interested in buying the properties. The land prices in the suburban areas cannot fetch the prices of apartments, the leasehold land and houses are in demand. The prices of land with a land permit are low. But the transactions are normal,” Daw Thanda Lin, real estate agent from Dagon Myothit (East) Township told the GNLM.
In Dagon Myothit (North) Township, the sale price of 40x60 feet two-storey building is above K300 million and the prices in South Okkalapa Township are higher than these prices.
The real estate market in Yangon is normal this month and the transactions are better compared to the same period of last year, said U Myo Myint Aung, secretary of the Yangon Region Real Estate Services Association.
“The rentals are good in the wards with economic potential. The rental fee is K1/2 million depending on the locations,” said real estate agent Ko Arkar from South Okkalapa Township.
The tax fee is three per cent up to K1 billion and four per cent for stamp duty.— TWA/ GNLM
