The Yangon zoning plan is behind its originally completed target date, as consultations are set to stretch into June.
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It’s rare to find a sprawling house in Yangon, but this Ahlone compound could be just the thing for someone who is looking to spend US$12,000 per month.
The property market in Yangon’s Chinatown is rapidly changing, as its streets become famous for late-night beer shops and a range of stores popular among foreign tourists, expats and Myanmar people alike.
Yangon aims to increase the number of people paying taxes on income generated from rental properties, according to Ministry of Finance Internal Revenue Department (IRD) spokesperson U Hla Htay Oo.
Industrial land is too often not developed, instead falling into the hands of land speculators, according to deputy industry minister U Thein Aung.
Bridge construction to Hlaing Tharyar township in western Yangon aimed at easing traffic congestion is also driving up property prices.
High-end Kabar Aye Executive Residence, designed to withstand both earthquakes and rainstorms, will feature a rooftop heliport to beat the traffic in case of “medical emergencies”.
Nearly all of Yangon’s recently constructed “condominiums” may not quality as condominiums under the draft Condominium Law, according to YCDC engineering deputy director U Nay Win.
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