Yangon’s real estate rent market on the rise

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  • Yangon’s real estate rent market on the rise

THE rental market in Yangon has continued to rise without a decline, according to real estate agents and tenants.
Rents of apartments and houses in Yangon have not declined due to office workers, families moving from other cities, and people coming to attend training.
“The rental market is still active. Once vacant, there comes another tenant. There is no difference between low and high-rise rooms, houses and apartments. People with large families rent houses. Employees and friends to share living rent apartments. Rental activity is active in almost every township,” said Daw Soe Soe, a real estate agent in Kyimyindine.
Rents are booming, and rental prices are high, with more rooms being rented on contracts and deposit systems. “Rental prices are higher than before. And there are almost no monthly rentals.
There are many rentals on six-month, three-month contracts, and deposit systems,” said a tenant.
Recent buyers are more likely to be people who need to live than investors, according to the real estate community.— MT/ZN

Source: The Global New Light of Myanmar

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