REAL estate prices have risen significantly in Dala Township, Yangon Region, since the opening of the Myanmar-Korea Friendship Bridge (Dala), while sales have slowed, according to real estate agents based in Dala Township, Yangon Region.
Even if there are a lot of enquiries at the market, 40-by-60-foot plots of property close to the bridge are currently selling for tens of thousands of kyats, and there are still not many real purchasers. Near the bridge on Bo Min Yaung Road, practically every plot on the left and right sides of the road is for sale at the moment. A 40-by- 60-foot plot can cost up to K5,500 million, while a 40-by-120-foot plot can cost K7,500 million or more.
“Land plots that are properly priced and situated in the neighbourhood are selling, while those that are being sold at outrageous amounts are not, depending on the market. Following the Dala Bridge’s opening, buyers included real estate buyers, sellers, and investors in addition to people who were drawn to the area by the easy access to transit. said U Ye Aung, a real estate agent at Shwe Oh Eain.
Furthermore, the cost of land and farmland is known to be at an all-time high, and the cost of ancestral land and homes in Dala town is rising in accordance with the neighbourhood and road conditions. Additionally, the cost of real estate in townships like Twantay, Kawhmu, and Kunchangon has also gone up.
“In terms of the current market situation, in Dala, in addition to land in and outside the township, there are also land, farmland, and garden plots in the neighbouring townships of Twantay, Kawhmu, and Kungyangon. In fact, the land along the Dala-Twantay road has been traded since the bridge was built. The buyers have now raised the prices since the bridge was opened. Some properties in Dala have not been put up for sale but are waiting for the situation to change and are closed for sale,” said a P2 real estate agent.
Along with the property sales prices, property rental prices have also increased, and the rental prices for properties in Dala and outside the city, which used to be priced at K80,000 to K120,000 per month, are now priced at K150,000 to K180,000 per month.
The current prices of land plots in the most popular neighborhoods in Dala Township are around K1,000 million for a narrow street 20 by 60 feet in Tabin Shwe Htee, around K2,200 million for a narrow street 20 by 60 feet in Bayintnaung, around K1,800 million for a main road 40 by 60 feet in Hmawsat, around K1,350 million for a main road 40 by 60 feet in Banyadala, around K1,500 million for a main road 50 by 50 feet in Kyansit, around K1,500 million for a main road 50 by 50 feet along the Dala-Dhanu Road. — ASH/MKKS
