Mandalay FM Interview with U Nay Min Thu, Managing Director of iMyanmarHouse.com (Part 1)

Posted by May Thet Hnin (iMyanmarHouse.com)

At Mandalay FM Good Morning Broadcast Live Program on 23rd July 2015, U Nay Min Thu, Managing Director of iMyanmarHouse.com presented the current real estate market condition.

The current real estate market of Myanmar was in stable condition starting from the mid-2014. The first reason was that it was a time of monitoring period to the 2015 election. The second reason was that the country’s revenues were needed by the fact that economic situation was in dollar up shift and the exports and imports vary about 5 billion.
It was such a time that the businessmen couldn’t dare to enter the real estae market due to the unstable market conditions. For example, the houses which had been invested could be sold at a loss when the capital was needed. Therefore, the current real estate market was stable.
Last year, the price of house with 40×60 feet on Wayzayandar Road was 10.5 billion MMK but at present the price was 10.2 billion and 10.3 billion MMK. In the wards, 25×50 feet plots were at the price of 5 billion MMK last year and 4.5 billion to 4 billion MMK at the present. In the current market condition, the tracsactions were made at a loss to be accomplished.
U Nay Min Thu said that the pre-order market encountered the suspended situations of the buildings because of the market decline. The second point was that the constructions were suspended with restrictions due to building of apartments without permission at Thingangyun Township.