Mandalay FM Interview with U Nay Min Thu, Managing Director of iMyanmarHouse.com (Part 3)

Posted by Pan Su Su Htwe (iMyanmarHouse.com)

U Nay Min Thu said that in such time of decline in real estate market, the point whether to sell or not their own real estate depended on the amount of money they needed. He advised not to sell their real estate at a loss because of the money needed for a short moment. The investors who wanted for office, they should buy on the wide road of Lan Ma Tan, but those who will live should buy the transportation places of Lan Ma Tan. The customers who rented for foeigners should buy in Lanmadaw, Latha, and Dagon. Those who were considering buying the plots should not purchace at the present because the market of the single houses with the plot was in declinng condition.
U Nay Min Thu said tha the key to real estate recovery depended mainly on the support of the government. Moreover, after the Condominium Law had been approved and the new city projects had been implemented, the real estate market of Myanmar would be recovered. Besides, Bo Bahtoo Housing, the low-cost housing, would be delivered to the cutomers at the end of this month and the price would be set about 30 million MMK. Although such 30 million MMK was not an affordable price for normal class of public, it was known recently that Taw Win Family was implementing the low-cost housing valued about 4.2 million MMK. If that project had been finished, the result could change not only for the customers but also for the market’s condition. Finally, if the government organizations autually implemented the rental housing project, that would be a better chance for the public.