Property Interviews

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...

Moderator: Could you talk about the most effective points to the public? U Nay Min Thu: Facebook is the country's most popular number (1) social media. I think more than 90 percent of Internet users use facebook. The second will be Viber. Third may be Linkedin. The most professionals have Linkedin profile. So, Facebook and Viber should be used to do business in Myanmar. See the section (1) => http://www.imyanmarhouse.com/interview/view/308059 See the section (2) => http://www.imyanmarhouse.com/interview/view/308095

Moderator: What are the new methods to carry out for e-commerce in the future? U Nay Min Thu: Now, online payment has already become a list of biggest financial figures in Myanmar’s economy. For e-commerce, we need a fairly good payment method. Now we have many payment methods. But most of them have not worked yet. The people do not believe the market share yet. We have to use a low-cost and long-term benefits payment method for e-commerce. Moderator: where do you see more investments in Myanamar? U Nay Min Thu: The real estate sector is now in stable condition. Because everyone is monitoring the election process and most of them are foreign investors. They are monitoring the...

Real Estate Show Myanmar 2015 was held on 3rd – 5th August at Shangri-La Hotel. The discussions of U Nay Min Thu, Managing Director of iMyanmarHouse.com are extracted as following. Moderator: Please tell us about your view on e-commerce in Myanmar. U Nay Min Thu: Global e-commerce is actually developing. I believe in the future of e-commerce. But in other words, we are still receiving 70% of offline products depending on the customers. There are no fears in the development of e-commerce in Myanmar. So, the revenue of offline shops will not be declined. If you look at the United States, you can see many Internet usages. Yet, 90% of nationwide sales are from offline shops. So, we...

It was noted that the points to be aware of between the buyers and the sellers as well as property land-owners and tenants were that about the ownership documents, evidence and valid pricing conditions shuld be noticed. The tracsctions were carried out by the experts, legal advisrs and expert real estae agents to avoid making mistakes. With the access of international constructions to Myanmar, costruction knowledge has been increased. Moreoveer, the access to the entrance of Foreigners to Myanmar would be increased with the release of Condo Law. “I am glad when the customers get a comfortable living by my real estate services,” Director Ma Thiri Theint Theint said.

Ngwe Eain San Real Estate Agency studied the real estate industry and was founded on 1st June 2009 to serve for real estate rental and sales. The current real estate market was a monitoring period with the stabe condition in sales market and the usual conition in rental market. The townships with the good market conditions are Lanmataw, Latha, Panbetan, Kyauktadar, Pazuntaun, Botataung townships. Single Market is to be served in Hlaing, Kamayut, Mayangon, and Insein townships. It was known that despite the real estate market was stable, the maket in the downtown townships could not be declined. Ngwe Eain San Real Estae Agency was helping the customers in accordance with the law to avoid...

He said that Mandalay is also the business centre and if foreign investments entered into the real estate world, Mandalay real estate maret would become normal condtion. With the development of technology, the customers could learn about the real estat by the websites such as iMyanmarHouse.com “The customers’ satisfaction is our first priority. In addition, investing the plots is the best for the customers who want to invest,” he said.

Ko Tin Htun Aung said that Chit San Eain Real Estate Agency was founded in the past 3 years and most were served in the downtown areas. Real Estate market has been very active in 2012 and 2013 but in 2013 and 2014 the market was in stable conditions. Retal was being served more than sales. If the officials reduced the property tax rates, the real estate market would be enlarged. The Jewel mine business is one of the main businesses of Mandalay-mining industry and most of jewel entrepreneurs bought the plots and invested. In concern with the current sales, the apartments and single houses were being served by Chit San Eain Real Estate Agency.

Not only the landplots house and fold but also the farmland is being sold in the current real estate market. The future real estate market depends on the political situation. In concern with transaction, avoiding signing a registration contract, to pay taxes can cause consequences. Therefore, the customers are wished to sign the contract and pay taxes regularly. Careful purchasement should be needed to be aware to be able to avoid fake ownership documents.

Though Shwe Mandalay Real Estate Agency has existed for 5 years, the company’s experience in real estate market has lasted for 20 years. The market continues improve, however, the condition is heading to a decline condition later. 10 years ago, Down Town Area was the best and most popular centre in Mandalay but later the new city places such as Thatepan Road and Manawhari becomes more widespread. The current market condtion was in better transaction by selling less than the real price and was in stable condition during Thingyan Festival. The specific rates of taxes were usual in some places, however, more than as usual in other places. According to the increased tax rates, the...