Tuesday, June 27, 2017
The Myanmar Times
The Myanmar Times

Property exhibition reaches K15 billion from sales  

Real-estate website iMyanmarHouse.com has organised their fifth, and largest, property sales exhibition in the third week of May which could make about K15 billion in property sales.

 At the exhibition, there were more than 50 construction companies. There were discounts available for buyers among some firms and the instalment duration ranges from one to 15 years.

The exhibition took place from May 19 to 21, and within three days several condos and apartments valued at over K15 billion (just over US$11 million) were sold.

“This is the fifth time the biggest property exhibition organised by iMyanmarHouse.com in Yangon was held – once in Mandalay and Taunggyi township and a third time in Singapore.

“Now, Yoma Bank is collaborating with us as an official banking partner for this exhibition,” said U Nay Min Thu, managing director of iMyanmarHouse.com. 

With the partnership with Yoma, customers interested could apply for a loan at Yoma Bank at the exhibition and then purchase apartment units. This arrangement makes it more convenient for buyers, he added. 

 “We, the iMyanmarHouse.com, aim at the goal that every citizen in Myanmar will have the ability to own their own place [house or apartment],” he said. 

He added that he will try to cooperate with developers and governmental officials in order to provide services to all kinds of customers, from those aiming at low-cost housing to those targeting high-end condominiums.

For long-term instalments, contractors and developers are selling the apartments at a lower rate, generally, than the past. This has encouraged more people to make purchases than before, one of the contractors at the exhibition told The Myanmar Times

iMyanmarHouse.com organised about 10 property sales exhibitions and three of those exhibitions are the biggest in Yangon and Mandalay in 2016, and have together raised K75 billion in sales.