Real estate rents increase in Yangon despite Vassa period

Despite the Vassa, property rents have increased in Yangon without stop.

Along with rising migrant population, of them most are tenants, Yangon’s property rent market has now been active and no decline has been seen even during this Vassa.

“The rent market has been active without stop. Because there are so many displaced people and young people who come to Yangon for training classes. Some who can afford buy house or apartment but most are tenants. Rents have been happening in most townships. People do house moving if they need, even it is the Vassa,” said an estate agent.

Rent market has been thriving and at the same time, prices have now elevated. Among tenants, some families or company employees or non-Yangon residents live together by sharing a rent room. Lately, apartments are being rented by six-month contracts or long-term leases only, and three-month contract rooms are difficult to find, said tenants.

Rather than selling and buying activities, rents have been more active in Yangon property market and estate agents said the property market is expected to be better in dry season. – MT/ZS