No Bidders Again as Junta Fails to Sell Suu Kyi’s Historic Home

[geovalin]

wikipedia

 

Myanmar’s military-led government has failed for the fourth time to auction off the lakeside home of ousted leader Aung San Suu Kyi, a property that remains a potent symbol of her pro-democracy struggle.

 

Despite slashing the reserve price to 270 billion kyats (approximately $128 million at official rates, or $62 million on the black market), no buyers came forward at Tuesday’s court-ordered auction in Yangon. The iconic property, where Suu Kyi spent nearly 15 years under house arrest, has long been viewed as a landmark of peaceful resistance.

 

The auction stems from a long-running legal dispute between Suu Kyi and her estranged brother, Aung San Oo, over ownership of the property. The sale was intended to divide the proceeds, but Suu Kyi’s legal team had opposed the court’s order.

 

Opponents of the military regime have condemned the sale attempt, warning potential buyers against taking part in what they see as an extension of the junta’s persecution of Suu Kyi. The home hosted key diplomatic figures including U.S. President Barack Obama and UN Secretary-General Ban Ki-moon, and is considered by many in Myanmar to be of deep national and historical value.

 

The reluctance to bid is not purely symbolic. In today’s volatile Myanmar, purchasing the property could bring unwanted attention. Many wealthy individuals seen as aligned with the military regime have been targeted by pro-democracy resistance forces, who view such deals as complicity with the junta. Several businessmen and officials have been assassinated during the ongoing civil conflict.

 

The villa on Inye Lake was originally gifted to Suu Kyi’s mother, Khin Kyi, widow of independence hero General Aung San, who was assassinated in 1947. Suu Kyi resided there until moving to the capital in 2012 to serve in parliament. She has been imprisoned since the 2021 military coup and has not seen her lawyers since December 2022.

 

With no successful bids, the court is expected to relaunch the auction at a later date, though details remain unclear.

 

-2025-04-30