PUBLIC transportation has an important role to play in the development of Yangon’s property market, according to real estate agents, who say the ease of travel in a city where most do not own a car can make or break new housing initiatives.

U Zaw Zaw, manager of the Unity real estate agency, said public transport routes were one of the first things homebuyers considered when eyeing a property shift.

“The place must have easy access to public transport-ation,” he said, adding, however, that the ability to commute easily was often offset by a need to rent or buy in affordable areas, which tend to be far from commercial districts.

Mundine managing director U Than Oo said developers’ chances of success were heavily influenced by the accessibility of projects.

“If there are weaknesses in transport to and from a new suburb, the property market in the area will suffer and it will be difficult to promote it again later,” he said.

U Than Oo cited Yuzana Garden City as an example of a company getting the housing-transport mix right, with sales of units at the low-cost estate in eastern Yangon helped by bus services introduced by the developer.

“In 1998, when Yuzana Co. sold apartments at Yuzana Garden City, the company set up two bus lines running to the project. This assured people that transportation wasn’t going to be a problem.

“Including the availability of transportation services in its marketing campaign led them to win buyers’ confidence and immediate occupancy,” U Than Oo said.

Among areas on the outskirts of Yangon city currently being targeted by developers, Hlaing Tharyar township is the most accessible with 36 different bus routes connecting it with other townships, U Zaw Zaw said.

The Kyansitthar housing project in Hlaing Tharyar township has seen rents rise over the past two years from K25,000-K30,000 a month to at least K40,000, largely due to its accessibility from other parts of the city, agents said.
“Although Kyansitthar is a long way from downtown, it is in high demand because of the many bus lines near it,” U Than Oo said.

North Dagon and South Dagon townships follow Hlaing Tharyar in terms of demand, realtors said, adding that buses and ferries designed to service Yangon universities were helping boost interest in some parts of the city that had fewer general transportation services.