Rent or Buy apartment in Yangon

Hi jayroz!

I would suggest you to post an advert in the Myanmar housing section.
It might help!

Regards
Armand

I dont know of any international companies, apart from Asian that are in Myanmar at present.

No major construction work going on either.

Bangkok Firm Joins Max Myanmar for Building Boom

Thai engineering firm LV Technology (LVT) has formed a joint venture with Burma's Max Myanmar Group, a business noted for its links with the Burmese military.

The Bangkok stock exchange-listed company specializes in cement-making technology. It will buy a 15 percent stake in Max Manufacturing, a small cement producer.

The investment will involve renovating two cement factories near Naypyidaw and will enable production to increase from 500 million metric tons a year now to 2,600 tons by the end of 2013 and 4,200 tons after 2014, according to a statement by LVT Managing Director Hans-Jorgen Nielsen.

“The cement business in Myanmar is expected to see rapid growth such as that seen in Thailand 30 years ago,” Nielsen said.

LVT has been running at a loss and Nielsen hopes the investment in Burma will take his firm back into profit as demand for cement grows with the country's economic development.

Funding for the joint venture, financial details of which have not been disclosed, will be aided by selling off part of an LVT subsidiary in India, Nielsen said.

Hello,

Take a look at yoma strategic (it's a company listed on the Singapore stock exchange) they have currently many contruction projects going on around Yangon.

yomastrategic.com

Best luck & maybe one day meet in Yangon!

hi Jayroz,

you have many construction company in Yangon like Naing group or Shine group and many others and they re building a lot. i guess they can employ foreigners.

condo price for rent are in between 12 and 18 lakhs a month (1500 to 2000 dollars a month) . which is really pricy !!

it possible to buy with Naing group with a lease. a condo goes for 200 000 dollars (aproximatively)

for rent or buy, company will ask 2 pr cent, but outside agent will take 8 (a month rental). the owner give the same amount to the agent. sometimes u can have many agents connected to each other , they will share the amount.

you have to consider the location as well carefully . traffic is worse day by day . they sell more and more cars (the market was closed for many years) but street network is still really poor.

hope this informations will be helpfull.

Marc

you can also find cheaper apartements like 500 or 600 US a month furnished , but no elevator ..

prices have doubled compare to last year, good deals are difficult to get...

Marc

Hello everyone,

I am moving into Yangon very soon and I would like to get advice on a good apartment to rent. I want a double room with great facilities and good ventilation but with maximum $350 a month. Any advice you can give?

[Moderated: Please communicate via private messages]

Hi Jayroz,
Are you in Yangon now and have you found the apartment yet? I have a apartment to rent in downtown Yangon. It is 2000sq/feet. I'm not sure wherther too big for you. Please let me know if you are interested.
Best regards,
Winston Paing.

razfairport wrote:

Searching for new apartments. I was in Yangon last month
but I ran out of time to check on any pre-sell
apartments with term payments prior to construction.
Anyone who knows more in details then please
give feedback. Appreciate to advise
any do's and dont's. tks

Hello razfairport -> Do not hesitate to post an advert in the Housing in Myanmar section. It may help.

Thank you,
Aurélie

I can find something for you if you'd like. Let me know your budget and where about do you want to be. I'm a realtor and there will be service fees.
Regards,
Winston Paing.

Got it and thank you.

Hi Winston,

Thanks for your response. I'll give you the details
before returning Yangon end of next month.

Best Regards.

Peter

Hi Peter,
Duly noted and look forward to hear from you soon.
Best regards,
Winston.

Hi,

I know one condominium at Pyay Road, Near Inya Lake (good place for running in morning :-))
Contact me, If you are interested

My phone 09421145024

[Moderated: Please post in Housing section]

[Moderaed: Please post in Housing section]

Hi Winston,

I'll be coming back on Jun 10 or 11th.
I'll call you when im free after arrival
because I'm planning to join a commercial
travel agency's tour that includes visits
to various commercial industrial zone
plus local Chinese Commerce Association
nearby downtown canal/river.
Talk to you later.

Thanks.

Peter

Hi Peter,
I have noted your post. I'll see you next month.
Regards,
Winston Paing.

Hi Happy,
The answer is NO. If you have any other question please Lè me know.
Regards,
Winston.

Dear All,

I am going to be station in Yangon this coming July.

Can anyone advice me what is the usual practice there with regards to agent commission, downpayment and so on for renting condominium there.

Thanks in advance

Hi bmwf1kin,
Renting the house or condo, normal practice is charging one month rent as service fees by government register real estate companies and general services companies to the renters. But there are street brokers(SB),  part time brokers(PTB) out there willing to do it for free. So they charge the home owners one month rent and cut 50:50 deal on any addition make on top of original asking rent. That means you will end up paying more.
For instance,
Owners Asking Rent: $2000 (* off course! This figure don't exists for you)
Your rented for: $2500 (* this figure is what your brokers say is fair rental price)
SB or PTB get: $2000
                         $250X12=$3000
                         $$2000+$3000= $5000
Owner get: $2000X12= $24000
Bonus.         $250X12= $3000

This is Win Win situation for home owner and (SB, PTB) but you.

Being a real estate agent is not just finding the right place but also being able negotiate the rent, knowledgable( understanding the cureent market and trend, enable to  logically predict future market ), making sure with owners documents are legit, etc..
Now the decision is yours and choose your agent carefully and wisely.
Best regards,
Winston Paing.