In the eyes of land speculators the stars are aligning for Twante township on the outskirts of Yangon, which is swiftly being linked to the city by new roads and bridges and is located beside a huge new development project, the Southwest New City.
Yangon real estate agents are hoping the incoming government can breathe new life into the real estate sector, where sales have slowed over the past couple of years to a near-standstill, condominium units lie empty and a growing number of people are unable to afford basic accommodation.
Sampan operators and homeowners who have been asked to make way for a new bridge that will link downtown Yangon to a huge new development to the southwest of the city are demanding hundreds of millions of kyat in compensation.
An outspoken Yangon City Development Committee member says he has ordered suspension of a number of construction projects on parkland beside the city’s Inya Lake, while the department responsible for contracting the companies says the projects are still going ahead.
Scores of people are moving to a former rubber plantation in Kawhmu township, Yangon Region, attracted by the chance of owning their own land, while mystery surrounds the real ownership status of the plantation.