The Vice-President (1) Discussed About the Property Sector

According to Myanmar Builders, it is noted that the discussions about the property sector are made at the 13th annual meeting of the private sector development committee and the private entrepreneurs led by the Vice-President (1).

1.There is no work for the individual agents of the real estate sector, so, they transferred to the other operations. Moreover, some companies are encountering economic difficulties.

2. To prepare the difficulty of a higher income tax rate of real estate as the mortgage real estate market is stronger than the rental market, starting from late September of 2014.

3.To set the real estate price per 1 sqft in Yangon Region and all around Myanmar to reflect the current real estate price.

4.To allow collaboration with the responsible officials of states and regions of Real Estate Service Association when a standard rate of 1 sqft price is got.

5.It is noted that U Khin Maung Than, chairman of Myanmar real estate service association submitted to distribute the price rates per 1 sqft to the public for transparency.

Credit: Myanmar Builders Guide
Translated by: iMyanmarHouse.com