{"id":33701,"date":"2016-11-10T10:41:42","date_gmt":"2016-11-10T03:41:42","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-land-to-start-getting-some-action-with-new-law\/"},"modified":"2016-11-10T10:49:38","modified_gmt":"2016-11-10T03:49:38","slug":"myanmar-land-to-start-getting-some-action-with-new-law","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-land-to-start-getting-some-action-with-new-law\/","title":{"rendered":"Myanmar land to start getting some action with new law"},"content":{"rendered":"


\nDecades of leasehold at stake
\nPanorama of developing Yangon. Perfect Lazybones\/Shutterstock
\nIn a bid to prevent the country\u2019s infamously pricey land from sitting idly, the Myanmar government is planning to lease state-owned plots to investors, Eleven Myanmar reported.
\nState-owned land will be made available for leasing to the right investors for up to 70 years, according to Minister of Planning and Finance Kyaw Win.
\n\u201cSkyrocketing land prices serve as a major deterrent to the influx of foreign investments,\u201d he explained. \u201cWe have a plan to reduce land prices for foreign investors as much as we can and allow them to run their businesses without collecting any land rental fees, if possible. Our government will adopt this policy in the future. We have to make reforms with the aim of creating revenue for the country instead of keeping vacant land idle.\u201d
\nMore: Illegal foreign-owned property in Yangon must stop, says MP
\nThe leasing will be staggered in phases: 50 years in the first, 10 years in the second, and 10 years in the third.
\nThe average land price in the country stands at USD605 per square metre, with values in Yangon alone reportedly more expensive than Manhattan. Prices in neighbours Bangladesh and Pakistan, in comparison, stand at USD208 and USD258 per square metre, respectively.
\nRead next: Yangon high-rise projects up in the air
\n
\nSource : property-report.com
\nRead more…Myanmar land to start getting some action with new law<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Decades of leasehold at stake Panorama of developing Yangon. Perfect Lazybones\/Shutterstock In a bid to...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-33701","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8Lz","jetpack-related-posts":[{"id":39067,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-future-of-myanmar-real-estate-could-lie-in-this-sector\/","url_meta":{"origin":33701,"position":0},"title":"The future of Myanmar real estate could lie in this sector","date":"December 27, 2016","format":false,"excerpt":"\r An \u2018industrial revolution\u2019 is coming Porters carry a load up to a ship in the port of Myeik in Myanmar. anandoart \/ Shutterstock.com The number of inquiries on industrial land and buildings has more than doubled over the past year, according to Verity Ramsden, associate director for advisory services\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2852,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-parliament-approves-40-foreign-ownership-of-condos\/","url_meta":{"origin":33701,"position":1},"title":"Myanmar parliament approves 40% foreign ownership of condos","date":"January 27, 2016","format":false,"excerpt":"\r The landmark Condominium Law is hoped to\u00a0increase overall foreign investment Image credit: Ann Wang (Frontier Myanmar) Myanmar\u2019s Union Parliament finally passed the draft of the Condominium Law that will legally permit foreigners to own up to 40 percent of a condo building, Eleven Myanmar reported. Under the law, a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/Ann-Wang_Frontier-Myanmar.jpg?fit=740%2C493&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":34584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wealthy-myanmar-investors-have-an-appetite-for-international-property\/","url_meta":{"origin":33701,"position":2},"title":"Wealthy Myanmar investors have an appetite for international property","date":"November 16, 2016","format":false,"excerpt":"\r Favouring it over local luxury housing Taking flight over Yangon. theskaman306\/Shutterstock Riding on a wave of popularity following the restoration of democratic functions in the country, Myanmar has been basking in a stream of inbound real estate investments in the past year. But in the hunt for luxury properties\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28781,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/illegal-foreign-owned-property-in-yangon-must-cease-says-mp\/","url_meta":{"origin":33701,"position":3},"title":"Illegal foreign-owned property in Yangon must cease, says MP","date":"October 6, 2016","format":false,"excerpt":"\r Myanmar\u00a0government official rails against foreign real estate\u00a0investors Yangon\u2019s downtown business district. Sean Pavone\/Shutterstock There are now \u201cover a hundred\u201d real estate businesses owned by foreigners in the Yangon Region of Myanmar this year and they are blatantly breaking the law, according to MP Win Maung of Hlaingthaya Township. \u201cSince\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4264,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-been-a-long-road-for-myanmars-hotly-anticipated-condo-law\/","url_meta":{"origin":33701,"position":4},"title":"It\u2019s been a long road for Myanmar\u2019s hotly anticipated condo law","date":"February 9, 2016","format":false,"excerpt":"\r With the recent approval of Burma\u2019s\u00a0condo law, experts hope that the change of government\u00a0will get the market back into high gear Economically and politically, Myanmar has undergone vast changes in the past few years. In fact, the country as it is today is almost unrecognisable from the military ruled,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/02\/Playing-the-waiting-game.png?fit=740%2C493&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14920,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-to-grow-the-fastest-in-asia-pacific-this-year\/","url_meta":{"origin":33701,"position":5},"title":"Myanmar to grow the fastest in Asia-Pacific this year","date":"May 31, 2016","format":false,"excerpt":"\r An economic growth spurt ahead in Myanmar despite a stormy 2015 Yangon (Image credit: Grace Farson Blog) It seems to be clear skies ahead for Myanmar\u2019s economy, which is still riding high on recent reforms that has democratised society and eased international sanctions. 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