A TOTAL of 137 properties are set for the auction block under the latest sell-off from the State-Owned Privatisation Management Committee, government newspapers said last week.

The auction includes 44 blocks of land, seven apartments and 86 commercial plots across the nation.

But real estate agents downplayed the likely impact of the auction on the industry.

“The real estate market has been cool since late November because of the strong kyat. Most potential buyers have been put off because they would lose too many dollars.

“Given that, I think only those properties in prime locations will sell in this auction, which is why I don’t think it will affect the market greatly,” said U Than Oo, the managing director of Mundine real estate.

U Zay Zay Maung, marketing manager of Khit Thit agency, said sites typically offered by the government for auction don’t suit buyers.

“It’s not uncommon for the auctions of state-owned properties to barely affect the wider market because the sites up for sale are not what most buyers are looking for. Those apartments to be auctioned are old, and buyers generally like newer buildings in good locations like Mayangone, Kamaryut, Yankin and Thingangyun townships. Most of the apartments to be auctioned are not in these townships,” he added.

The fact that the auction includes a mix of residential and commercial blocks, shops, warehouses and factories spreads whatever hit it might have across a number of different markets, said U Zaw Zaw, the manager of Unity real estate agency.

He added that the some of the industrial properties are priced above K1 billion and unlikely to sell.

The auction includes 52 commercial sites in Yangon and 34 from across the rest of the nation.

Interested buyers can buy and submit applications until December 31 at the State-Owned Privatisation Management Committee building in Nay Pyi Taw, the National Archives building or the Department of Human Settlement and Housing Development in Yangon.