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.
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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.
Yangon isn’t always at the forefront of modern design. But this week’s house bucks the trend, making excellent use of glass windows to bring in large amounts of natural light.
Yangon’s housing affordability crisis has resulted in many blocks in satellite suburbs being subdivded below the 20-foot minimum set by Council.
The Daewoo Amara Hotel aims to be Myanmar’s largest hotel complex when it opens its doors in 2016, according to company officials.
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