Residents of some of Yangon’s older buildings are resorting to potentially dangerous measures in an effort to have their dwellings declared unsafe by Yangon City Development Committee, say developers.
The construction industry is facing a crisis due to an ongoing dispute with Yangon City Development Committee over delays in issuing building permits.
One high profile victim of the delays in granting construction permits by Yangon City Development Committee is the redevelopment of the Su Htoo Pan Cinema on Bogyoke Aung San Road, a company spokesperson said on July 2.
High land prices could prove a “deal breaker” for potential foreign investors, especially in the competitive manufacturing industry.
Rreal estate agents say the approaching deadline for a tax holiday on property sales is unlikely to greatly impact the market, which has recently seen a sales slowdown.
Yangon's rental market is running hot even as the traditional lull signaled by the start of Lent approaches.
The government’s changes to import licenses for cars has seen a rush of new cars come in, with prices falling and attention diverted away from the real estate market.
A New flyover is set to be built at the Bayintnaung junction in Insein township. The project, which is being undertaken by First Myanmar Investment Company (FMI), was inaugurated by the company on June 5.
