Buying Property In Burma

[Damaz6052]

Does anyone know of or have experience in buying property in Burma?

Thanks

LM

Edited May 23, 2008 by Damaz6052

[MrIrrisistable]

Are you American ?

[jumnien]

Do you mean Myanmar?

[lannarebirth]

My gardener has some for sale, but he says it is the buyers responsibility to remove the tenant that's been squatting on his land for the past 45 years.

[MrIrrisistable]

Chuwits available for consultations apparently.

[Nampeung]

This has to be a joke right???

[dr_Pat_Pong]

This has to be a joke right???

I reckon you are right on the money.

[duchovny]

I'm not sure about land in Burma but if you're looking for a good bargain I am selling the Sydney Harbour Bridge. Personally I think it would be a better buy than land in Burma.

The Bridge was built in 1932 but has been constantly maintained and painted, and is still in good shape. PM me for the purchase price.

(As for payment, I only accept a bank transfer to my bank account at the National Bank of Nigeria)

[hanibal7]

i have plenty of land in burma and its ready to be sold now due to unforeseen problems.comes complete with some bows and arrows too.

johny rambo

[Prakanong]

Maybe its a joke post but

The junta might not last for ever and you might get a bargain

My best pal at work is from Burma and has a large place there he pay's a family to live - I might ask him out of interest.

Look at Cambodai - prices have shot up in the capital and if you said 10 years ago to buy there you would have been laughed at

[Naam]

Does anyone know of or have experience in buying property in Burma?

about 10 years i enquired about property in Burma/Myanmar. no way for foreigners, and no change until this very day.

[Heng]

You know what they say, *never invest more in Burma than you can walk away from.*

[zorro1]

You know what they say, *never invest more in Burma than you can walk away from.*

Oh no ! your gonna draw all the anti property investment brigade to this thread, but for once they may be right

[Heng]

How would I go about setting up a Burmese company to own my property or at least setup a 30 + 30 lease?

Do they have tapwater over there?

[richardb]

Do not know the OP but why do people think its a joke? My ex was burmese and I still visit her family and kid and they asked me not long ago if I could buy their house for them. In am sure I am not the only one on this board with a Burmese connection . Anyway if anyone has any info i would be interested.

Richard

[brahmburgers]

I know this is off-topic, but to show the ridiculousness of Burmese authority's paranoia: a Burmese woman cannot legally marry a foreigner.

as for land, why not arrange to rent or lease?

[wayfarer108]

I know this is off-topic, but to show the ridiculousness of Burmese authority's paranoia: a Burmese woman cannot legally marry a foreigner.

as for land, why not arrange to rent or lease?

I have a couple of friends living in Yangon and married to local women. I guess someone forgot to tell them

I think it's the same as in Laos, you need advance permission from the government.

As for land ownership, believe it's the same as in Thailand, ie, leases are available, or you can form a corporation or use a Burmese partner.

[Naam]

as for land, why not arrange to rent or lease?

and then? looking at the land using Google Earth?

[Nampeung]

God some people are heartless. Has the OP and various others (RichardB) been living on the moon???

Unbelievable

[MrIrrisistable]

I'm not sure about land in Burma but if you're looking for a good bargain I am selling the Sydney Harbour Bridge. Personally I think it would be a better buy than land in Burma.

The Bridge was built in 1932 but has been constantly maintained and painted, and is still in good shape. PM me for the purchase price.

(As for payment, I only accept a bank transfer to my bank account at the National Bank of Nigeria)

How original.

Heng...plenty of taps in the water I believe.

[bangkapiboy]

I read an article somewhere that the city is really changing in Myanmar, because the Chinese have moved into the city and are buying up the central areas. Chinese businesses everywhere. Prices have shot up, locals have sold for profit and moved toward the city outer areas. Certainly someone could make some serious money there. I think being Chinese can help.

[Heng]

I read an article somewhere that the city is really changing in Myanmar, because the Chinese have moved into the city and are buying up the central areas. Chinese businesses everywhere. Prices have shot up, locals have sold for profit and moved toward the city outer areas. Certainly someone could make some serious money there. I think being Chinese can help.

Woo-hoo!

[shochu]

Not just the chinese.

Other nationals have also bought and are doing business there.

[richardb]

God some people are heartless. Has the OP and various others (RichardB) been living on the moon???

Unbelievable

What !!!

I think we are all talking about taking care of our Burmese friends and family and incidently having a little retreat in the Shan Hills maybe .

Richard

[aesthete]

I have some knowledge of this subject.

Foreigners are absolutely prohibited to own any property, be it land or condo, in Burma.

The loophole of setting up a Company, and buying the poperty in that Company's name, is very problematic and could lead to more problems than it sets out to solve.

Foreigners that HAVE purchased property in Burma (and there are a few) use a Burmese law called 'General Power' which at least gives them control over the property in their lifetime, but possibly not after that. Most simply buy in their wife's name and hope for the best!

As a poster above has stated, there has been a real estate boom in Burma, particularly in Rangoon and Mandalay, the former fuelled by a more prosperous middle class (generally with some Government connections), the latter with Chinese money.

Real estate prices are very cheap even by Thai standards. A reasonable 'walk-up' apartment can be bought downtown for as little as $12,000, whilst even a new development comparable with those in Thailand will be around $80,000 for a 1600sqft condo with quite some luxury and in a prime area.

Apart from those with Burmese wives/girlfriends who need to buy for practical purposes, the real estate market is in many ways a gamble on a future democracry. If and it is a big IF there were to be some future political change whether in 5 or 20 years, the market will explode.

If you are serious about such a purchase I would suggest you get yourself a REPUTABLE local lawyer, failing which possibly I can find one for you.

[Wanderinawe]

I know this is off-topic, but to show the ridiculousness of Burmese authority's paranoia: a Burmese woman cannot legally marry a foreigner.

as for land, why not arrange to rent or lease?

I have a couple of friends living in Yangon and married to local women. I guess someone forgot to tell them

I think it's the same as in Laos, you need advance permission from the government.

As for land ownership, believe it's the same as in Thailand, ie, leases are available, or you can form a corporation or use a Burmese partner.

Actually, it is illegal for a Burmese woman to have sex with a foreigner. So... the marriage...

[Nampeung]

RichardB and the OP are obviously total idiots who don't realise what is happening in Burma at the moment... give me a sick bag

[MrIrrisistable]

Nampueng....with such a delicate stomach you should not get out of bed in the mornings.

Life goes on.

[Fletcher]

There is one development in Yangon where foreigners CAN buy land / condo's (on a leasehold). The Pun Hlaing Golf Estate. Land prices are very reasonable and the infrastructure is exceptional. For a medium term investment, if you can afford to tie up the money for a few years, is excellent. I would have done so myself - but my business got nationalised !

Apart from that you would have to buy in a Myanmar nationals name. The idea of setting up a company to buy land is also not possible - as at present it is extremely difficult to get a foreign company registered, and wouldn't be possible for the purposes of buying land. Also, a local company is defined as a company owned 100% by locals so no different to having the property registered in a nationals name.

If you want more info send me a mail, I've got about 10 years experience of 'trying' to do business here!

Cheers

[Damaz6052]

Thanks aesthete & Fletcher yes this is a genuine question. I've always liked Burma and it's people it would make a great investment maybe not now but differently in the future.

Sunbelt have a couple of businesses for sale in Burma.

Fletcher any chance you could add your advice to this post.

Regards