The Myanmar Times
The Myanmar Times

Myanmar property investors look overseas

Wealthy Myanmar property investors are showing more appetite for foreign purchases, according to KAE Alliance real estate, which has sold 20 foreign properties to local buyers this year.

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Mandalay to enforce new licence system on landlords

Would-be landlords in Mandalay city will have to apply for a licence starting next April as city authorities enforce a long-ignored by-law.

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Mandalay firm starts pre-sales on housing project

Construction firm Thandi Thitsa has started pre-sales on an affordable housing development in Mandalay.

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Sule Square to receive completion certificate

Shangri-La’s latest Yangon development Sule Square will receive its building completion certificate from Yangon City Development Committee this week, after paying a K2 billion fine for building extra floors.

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Homes lost to informal lending

The common practice of using apartments as collateral for informal loans has resulted in lost houses and financial problems for borrowers, as well as hurting the real estate sector, according to the Myanmar Real Estate Services Association’s vice chair U Than Oo.

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YCDC finishes high-rise review

Yangon City Development Committee announced yesterday it has completed its review of high-rise building projects and will start accepting new applications for construction permits next week.

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Construction industry calls for tax change

The rules and regulations for the Condominium Law, which was passed at the start of this year, will be ready by the end of 2016, a construction ministry official told The Myanmar Times. But construction industry bodies also want a revision of the property sales tax, which they say is strangling the real estate market.

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Construction association helps struggling firms

A new initiative from the Myanmar Construction Entrepreneurs Association (MCEA) is helping smaller construction and contracting firms secure bank loans, amid a slowdown in the residential real estate market that has left companies facing abandoned projects, court cases and financial distress.

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