Myanmar, officially known as the Republic of the Union of Myanmar and also known as Burma, with capital city Naypyidaw; is based in Southeast Asia bordered by India, Bangladesh, Thailand, Laos and China and is the largest of the mainland Southeast Asian states. The nation is defined by a wondrous landscape comprising mountains, beaches, islands, and lakes combined with diverse cultures, and traditions interspersed in more than 100 ethnic groups. Myanmar is rich in gems, oil, natural gas and mineral resources and has the highest solar power potential compared to other countries of the Great Mekong Subregion. Widely known as a land of villages, its large cities—Yangon, Mandalay, and Mawlamyine (Moulmein) are bustling metropolitans of modern and urban living with a rising level of potentially prime real estate.
Political and economic reform provided the catalyst for one of the fastest growth rates in the world with Myanmar’s real estate attracting the most interest from investors in search of opportunities as its value increased with the growing population and rising income. Availability of housing loans by private and government banks has boosted buying power and reflected a positive upward trend for properties for sale and properties for rent in Myanmar. Rules and laws implemented for residential property ownership for foreigners created a further surge in Myanmar real estate value. Property for rent in Myanmar has been the mainstay of the real estate sector and thrives as developers build more flats, apartments and condominiums to cater for the steadily expanding population and economic growth.