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

Posted by Pan Su Su Htwe (iMyanmarHouse.com)

Mandalay FM makes a talk with U Nay Min Thu, Managing Director of iMyanmarHouse.com about the current and future property market conditions. The current property market conditions in Yangon, Mandalay and Naypyitaw has been marvelous and most of the plots were deal about 100 billion.
The apartments are in the transactions from 30 billion to 50 billion at most and the condominiums are in the transactions from 200 billion to 500 billion with special discounts. The reasons for reactivating market are because of the fact (1); the public becomes more trusted the current government, and the fact (2); the forecast of World Bank that the country’s economic situation has the possibility of increasing among ASEAN countries.
In addition, more foreign investments have been increasing, so, the property market will become more active. The condominium Expo held together by iMynamHouse.com and Golden City Project were available to sell about more than 6000 million. Blocking the building of high-rise condominiums is to check back that there is enough space for car parking and there are drains to for waste water. Therefore, more than 100 condominiums are suspended.
“By this event, the construction workers, small projects which imported materials had lost a little. Therefore, it is expected that government will give back construction permit soon. During the period of taking office of current government, the previously buildings are reviewed and checked and it will be more convenient if the government take time in tests at least,” said U Nay Min Thu, managing director of iMyanmarHouse.com.