{"id":43039,"date":"2017-02-06T15:27:53","date_gmt":"2017-02-06T08:27:53","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-real-estate-is-getting-better-and-stronger\/"},"modified":"2017-02-06T15:30:20","modified_gmt":"2017-02-06T08:30:20","slug":"myanmar-real-estate-is-getting-better-and-stronger","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-real-estate-is-getting-better-and-stronger\/","title":{"rendered":"Myanmar real estate is getting \u201cbetter and stronger\u201d"},"content":{"rendered":"


\nSlow and steady wins the race
\nDowntown Yangon. Sira Anamwong\/Shutterstock
\nA leading developer has expressed hope that sentiment for Myanmar property would grow more bullish as the country adjusts to the incumbent government, led by Aung San Suu Kyi\u2019s National League for Democracy (NLD) party.
\nSerge Pun, executive chairman of the SPA Group of Companies and Myanmar\u2019s Real Estate Personality of 2016, believes the market will be \u201cbetter and stronger\u201d in the next four years under NLD rule. \u201cThere would be real demand emerging from the market, which was not the same as the demand derived from property speculation in the past,\u201d Pun said at a press conference on 4 February.
\nMyanmar finished 2016 with a gross domestic product (GDP) growth of 6.5 percent, a decrease of 1.3 percentage points from The World Bank\u2019s forecast. The disappointing growth, which marks the first time in five years that the economy grew below 7 percent, can be attributed to a flagging construction sector, the bank\u2019s new Myanmar Economic Monitor (MEM) alleged.
\nMore: The future of Myanmar real estate could lie in this sector
\nPun downplays the gravity of a waning property industry. \u201cI don\u2019t think that the slow growth of the real estate business is a bad situation, because over the past 24 months, the market was slow but the price was stable,\u201d Pun told The Myanmar Times. \u201cBut five years ago, the real estate market, especially in Yangon, the prices of lands and apartments or condos were surging extremely rapidly that we can call a critical condition. So, now, the government has adjusted the market and this situation is no longer as worrying.\u201d
\nFrom May through November, the Yangon Region government executed an order suspending the building permits for all structures exceeding nine storeys. The far-reaching ramifications of the edict have led to a halving of new construction projects in 2016, according to U Yan Aung, general manager of Asia Construction Co.
\nAlthough the number of luxury condominiums in Yangon stands at around 6,000 units, the closing rate for new units in the city has fallen to 50 percent, compared with 80 percent in 2013, the Nikkei Asian Review reported.
\nRead next: The ultimate guide to SE Asian real estate in 2016
\n
\nSource : property-report.com
\nRead more…Myanmar real estate is getting \u201cbetter and stronger\u201d<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Slow and steady wins the race Downtown Yangon. Sira Anamwong\/Shutterstock A leading developer has expressed...<\/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-43039","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-bcb","jetpack-related-posts":[{"id":4264,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-been-a-long-road-for-myanmars-hotly-anticipated-condo-law\/","url_meta":{"origin":43039,"position":0},"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":17674,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-story-of-serge-pun-myanmars-2016-real-estate-personality\/","url_meta":{"origin":43039,"position":1},"title":"The story of Serge Pun: Myanmar\u2019s 2016 Real Estate Personality","date":"June 25, 2016","format":false,"excerpt":"\r One of Myanmar\u2019s most recognised businessmen will be honoured by Property Report at the country\u2019s biggest industry event Born in Yangon, this future mogul spent his formative years in China during the great Cultural Revolution and arrived in Hong Kong at the age of 21. He started his career\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38085,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/myanmar-property-awards-2017-is-launched-and-open-for-nominations\/","url_meta":{"origin":43039,"position":2},"title":"Myanmar Property Awards 2017 is launched and open for nominations","date":"December 14, 2016","format":false,"excerpt":"\r PropertyGuru has announced the return of Myanmar\u2019s biggest gathering of real estate achievers On the panel: (L-R) Chairman of the judges Richard Emerson, managing director at Emerson Real Estate (Myanmar); Terry Blackburn, founder and managing director, Asia Property Awards; and Zaw Erskine, director at BDO, official judging supervisor After\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18220,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meet-the-winners-from-the-myanmar-property-awards-2016\/","url_meta":{"origin":43039,"position":3},"title":"Meet the Winners from the Myanmar Property Awards 2016","date":"July 1, 2016","format":false,"excerpt":"\r Shwe Taung takes home the Best Developer gong, while\u00a0Keppel Land and Capital Land among top winners All together onstage: the Winners and Highly Commended at the Myanmar Property Awards 2016 Drumroll please! 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One of the leading corporations in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17890,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/huge-luxury-developments-to-change-yangons-riverside-skyline-forever\/","url_meta":{"origin":43039,"position":5},"title":"Huge luxury developments to change Yangon\u2019s riverside skyline forever","date":"June 28, 2016","format":false,"excerpt":"\r Several high-rises have been announced in Yangon, providing stark contrast to neighbouring slums Yangon riverside (Image credit: TripAdvisor) Hlaing Tharyar is the largest of the townships in the Burmese capital of Yangon. It also has the singular cachet of having Myanmar\u2019s largest squatter area. 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