Mandalay FM Interview with U Nay Min Thu, Managing Director of iMyanmarHouse.com (Part 2)

Posted by Pan Su Su Htwe (iMyanmarHouse.com)

In the current real estate market condition, condominiums and apartments are being sold with the installment plans. In concern with that market, the customers need to check first the integrity of Developer, however, it can be checked in detail only if the condominium Law is developed.
Besides, he said that at present, the customers misunderstood that it was a condominium when an apartment wasbuilt with an elevator. In fact, it would be a condominium if it was built on the area of more than 20000 square feet. In addition, 40% of the total quantity of the rooms in a condominium could be sold to the foreigners, in a result, it could be expected that the future real estate market would be high potential.
Moreover he said that it was more convenient in increasing of low-cost housing projects. As the 80% of the people in Myanmar had not still owned a house, the low-cost housing projects should be implemented in the new government’s days. In addition, it was needed to carry out to be able to sell directly the low-cost housing projects to those who want to live.