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Buying property in Myanmar

Hi,

can a foreigner buy property in Myanmar?

If so, is it complicated? What is the process of purchasing a property in Myanmar?

Any tips for buying property, such as a check-list of items to verify ?

Thanks in advance for participating!

Christine

Hi,

No. A foreigner cannot buy properties (unmovable thing as Law Term) including cars, telephone, flat, land, etc.
Some foreigners buying it with the name of Myanmar friend but there are many unnecessary problems when Myanmar denies to sell of the owner's instruction. There is nothing you can do at the time as you trick the law.

Best,

Tin

Christine wrote:

Hi,

can a foreigner buy property in Myanmar?

If so, is it complicated? What is the process of purchasing a property in Myanmar?

Any tips for buying property, such as a check-list of items to verify ?

Thanks in advance for participating!

Christine

Hi Tin!

Thanks for your help!

Armand

Er.. no, you cannot purchase property as a foreigner in Myanmar. It is difficult enough renting somewhere as landlords require 6-12 months rent in advance. Good rental apartments are in short supply. Maybe things will change next year but land prices have just escalated.

Then how to become the citizen of myanmar? Or you just marry with the local people then you just can own the property?

It is not true what it was said, for example Grand Waktu Company acquired 90+ properties for foreigners and foreign companies during last few months, so maybe you should contact competent source of information

hi
Im Marc

you can now buy Condo apartment with the Naing Group with a lease. contact them for more information. but... it s pricy , around 200 000 US for a condo...

Marc

HI..Can you elaborate more on that of how foreign citizen could purchase a condo in Myanmar.

Thank you

Is it possiable to share foreigner & Myanmar citizen buying properties ?
Please advised

Thanks

hi !

for Naing group condo info ,

mail: nainggroupmarketing[at]gmail.com

web: nainggroupconstruction.com

ph: Miss Shwe Yee Hlaing 09 73 10 86 42


now foreigner who establish a buisiness in myanmar can own property. u ll have to read the new law about foreign investment.

according to last news, the english translation of the law is not complete !!! only the burmese one is. the law is going to be translated in french .

Marc

Hi Christine,
Foreigners are not allow to own the land unless married to local and but it under the spouse name or you need to have a local trust worthy friend.

The Condo Law was introduced on 23/08/2012. Under Chapter(3) Registration and Establishment of Condominiums, Clause 15, Annex (C). The Developer has the right to transfer a maximum 40 of Housing-Units from the sixth level and above of the Condominium to to foreigners.

If you have further question, please email to me:  winston[at]tandt-realestate.net

Best regards,
Winston.

Thank you guys! :)

Hi there,

I'm wondering if anyone knows any British people who are investing in property in Burma?

I'm a TV Producer in London, UK, and I'm working on a new programme idea about British people buying property in places others would see as high risk, or conflict-ridden. It can either be as an investment opportunity, or perhaps they have special ties to the place.

Please do get in touch if you can help.

Looking forward to hearing from you.

Thanks,

Mary

I believe you're right about the new law. My last month's trip
to Yangong someone told me there are also
developers who accepts term installments
through required construction period, last payment
must be paid upon building completion, just
the same for some Asian countries, this way
new owners could take their time and won't have any burden to pay in a
lump sum.  I only need to find out more info if the new owner
can sell the apartment anytime prior building's completion.

Pedro

So now with the new law, is it possible or not for a foreigner to buy a property?

As far as I know from my close friends in Yangon, they said better to wait until end of election year because new government regulations for foreigners who wants to become local residents. It would be safer to buy your apartment or house under your own name once resident card is obtained.

Pete

Good information, thank you !

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