The latest building collapse in Sanchaung township. Pic: Hein Latt Aung

BUYER interest in older high-rise apartments before 1995 has collapsed almost as spectacularly as the two buildings that have fallen down in Yangon in the past month, a number of real estate sources said last week.

U Zaw Zaw, the manager of Unity Real Estate, said that even though there’s a 20 to 30 percent advantage in buying older apartments, his clients are concerned they are not safe.

“Buyers recently have only asked us to find newly or recently built apartments because they’re afraid that the older buildings will collapse,” he said.

He added that contract building was popular in Yangon between 1989 and 1995, when large numbers of buildings quickly sprung up in Sanchaung, Tarmwe, Mingalar Taung Nyunt, Hlaing township and the downtown area.

“At the moment everyone wants to know how old a particular apartment building is before they buy or rent,” he said.

U Ko Ko Lay, the director of Three Friends Construction, said Yangon City Development Committee imposed much stricter building codes from 2000 onwards.

The period between 1995 and 2000, one legal expert said, was a time when today’s leading construction firms cut their teeth and earned buyer confidence. However, he warned that many buildings put up in this period – perhaps as high as 40pc – may be sub-standard.

“In the past, many developers built as quickly as they could to meet demand and used cheap construction materials – which were sometimes diluted as well – to keep their costs low,” he said.

Some residents said that even though their buildings are barely 15 years old they are already falling apart.

Ma Yin Mar, who lives in Tarmwe township, said that although her apartment was built in 1996, the concrete on the wall has consistently fallen apart. She added that both the floor and iron roofing beams are sub-standard as well.

U Zaw Zaw questioned why these new buildings could be in such terrible condition when there were still plenty of British-era structures still standing.

“There are many colonial-era building in Yangon’s downtown areas. But I’ve never seen any of them fall down in the 20 years I’ve lived here. I guess those were built using high-quality materials,” he said.

U Ko Ko Lay said the 1988 switch to a market economy allowed a number of new developers to jump into the construction industry, creating a period where quick profits took precedent over quality.

“That period really hurt the construction industry’s image,” he said.

Examples of the poor workmanship from that era that U Ko Ko Lay gave include rusted iron support bars and walls that can literally be rubbed away by hand because too much sand was used in the cement mix.

“Many of these developments also failed to include emergency exit ladders, something that all developers now emphasise for obvious safety reasons,” he said.

Ma Sabei, a Sanchaung township resident, said that after hearing of the building collapse in her neighbourhood, she’s afraid to live in any high-rise building made before 2000.

U Zaw Win, chief engineer of the YCDC’s building department, said the committee is now doing inspections on a number of buildings in Yangon and warning residents of unsafe structures.

U Zaw Zaw said he hopes the recent negative attention will add interest to newer apartments.

“We hope that the market for newer apartments will jump significantly because people now know that they are safer than the older buildings.”