Buy A Cheap House Or Lot In Burma ?

[driedmango]

Was wondering what the going rate is for a little tiny modest house or even a building lot in Burma and what kind of hastles it might be to get this all legal.

As many here, I am wondering if there is some cheap properties one might be able to buy hoping one day Burma opens right up and becomes the next big hit.

[ThailandBert]

Having done a lot of reading of this forum I think the man to ask would be Simon43. If memory serves me he is actually working there at the moment. It has opened up a lot this year but to what extent I'm not sure.

[DagonKhan]

The first question you need to ask yourself is how you're going to buy a property as a foreigner. Until you've answered that, I see no point in you even considering the idea. If your wife is Burmese then it's easy to get it legal, my advice would be to go for a "Guran", not a slip or a permit (unless you can get a permit which can be changed into a Guran).

Besides, when you ask how much for a plot, a plot where? Location is critical. On the very outskirts of Yangon a 60' x 40' plot might sell for US$3,000, the same size plot centrally might sell for around US$1.2 million. The variation is massive, it all depends on location.

[driedmango]

wow there is Million dollar building lots Yangon ? I guess I learned something already, glad I asked.

[DagonKhan]

wow there is Million dollar building lots Yangon ?

I can think of many houses that are several million US$ and some that are well over US$10 million if a million is too cheap for you?

[driedmango]

I wouldn't pay 1 mil for a 40x60 ' lot in an unstable country myself, but to each his own.

[DagonKhan]

I wouldn't pay 1 mil for a 40x60 ' lot in an unstable country myself, but to each his own.

I couldn't agree more.

But if you're Burmese and on the sanctions list and you have no way of getting your money out of the country, that's what you did. All these properties now belong to Generals and Cronies, they even purchased some of them on a compulsory basis as they were needed for Government use (well military use anyway), they then gave them to themselves. There's an awful lot of disenfranchised people out there who are waiting to get their confiscated land back, and that applies equally to multi-million dollar plots as it does to ones for just a few thousand. If anything, the cheaper ones can be the most dangerous ones, farmers are starting to club together and are now demanding their land back. The same applies for industrial land in places like Hlaing Tharyar which are now selling for over US$400,000/acre.

Edited October 5, 2012 by DagonKhan

[driedmango]

I am wondering if investors would like to chip in we are going to buy a single 1 million dollar lot as a hedge against inflation with all our life savings

[CP3]

There are cheaper options around the region. Myanmar is not the place to own a property just for investment purpose. Myanmar is one of the poorest nation yet the properties prices,living expenses are higher then others. In Thailand, you can have a meal with 40thb at road side stall but in Myanmar, you will have to pay more. To sum up, Myanmar will not become like thailand,viet for expats.

[DagonKhan]

This may be of interest to you driedmango:- http://www.ft.com/cms/s/2/9f5800d0-0882-11e2-b57f-00144feabdc0.html#axzz28aNld03O

[SeaVisionBurma]

This may be of interest to you driedmango:- http://www.ft.com/cm...l#axzz28aNld03O

Very interesting article, thanks.

[zachb]

not much cheap land in Myanmar anymore. The people with money in Myanmar don't have many investment opportunities so they all dump their money into land. The prices in Mandalay, Yangon and Dawei are all crazy expensive. in Mandalay the prices are going up to about $900 per square foot or more in downtown.

[driedmango]

thanks guys, I think I will hold off on investing my peanuts, I was thinking maybe I could scoop up a littlle few acres for a couple of grand in the poorest country on earth, I guess with all the corruption and drug cartels I will have to look elsewhere.

[simon43]

As a foreigner, there really is - as yet - no 'safe' or legal solution for buying land in Myanmar, unless you are talking about the multi-million $ plots/property that the 5-star hotels are investing in.

Renting/leasing land is a different matter, and that's of interest if you intend to live in the country on a long-term basis, (which you can really only do right now if you are on a work visa or are married to a local).

I've been offered small plots of building land right on the banks of the Yangon river, (but above the flood level if you build on stilts). The 30-50 year lease price is just a few hundred $ per month or less, and not payable upfront but on a monthly basis.

Now all I need to do is to verify that the leaser is actually the land owner... Even so, you can still cover yourself by building a teak house, which can be deconstructed and relocated to another location if therte's a problem - just the same as in Thailand.

As for investing in land in the hope of making a lot of money - I think you will have to leave that option to the wealthy locals

Simon

[simon43]

In Thailand, you can have a meal with 40thb at road side stall but in Myanmar, you will have to pay more

Depends I suppose. I pay 23 baht for my plate of chicken with noodles, oxtail soup and Chinese tea in Yangon. Perhaps the locals take pity on this poor foreigner

[CP3]

In Thailand, you can have a meal with 40thb at road side stall but in Myanmar, you will have to pay more

Depends I suppose. I pay 23 baht for my plate of chicken with noodles, oxtail soup and Chinese tea in Yangon. Perhaps the locals take pity on this poor foreigner

around 800kyat..Se kyat khout swe(flat noodle with some meat on top)?

[CP3]

Tr

Try this..It is nice!

[driedmango]

Ok, I will never buy land in Burma and after reading articles it all makes sense, no banks you can trust dump all your money in Land.

There is $10 000 lots in Hawaii, you can get a few in the Kooteanys in BC mountains, I would rather buy one of those.

I do wish I could buy a little shack in Thaiand, but I understand they keep the land for the locals, fair enough.

[Kiggs]

Tr

Try this..It is nice!

What is it, Pork?

[householder]

Pork Stick - where they really do use every part of the pig. Tried it once and whilst the tongue was ok my mind couldn't get over the psychological barrier of eating intestine. Never again!

[Naam]

I wouldn't pay 1 mil for a 40x60 ' lot in an unstable country myself, but to each his own.

someone who asks

Was wondering what the going rate is for a little tiny modest house...

will surely not shell out one million

[Kiggs]

Just to go off topic just for a post or two. Has the price jumped the same on rented apartments / houses? What's the average cost of a 2 bed aircon place atm ( Okkalapa Township) only ask about there because I have a job there in Feb

[DagonKhan]

Just to go off topic just for a post or two. Has the price jumped the same on rented apartments / houses? What's the average cost of a 2 bed aircon place atm ( Okkalapa Township) only ask about there because I have a job there in Feb

As always it depends on the location, even within a township. Ks2-4 lakh (US$230 - 460)/month. Expect to pay 12 months in advance plus 1 months commission.

[Kiggs]

Just to go off topic just for a post or two. Has the price jumped the same on rented apartments / houses? What's the average cost of a 2 bed aircon place atm ( Okkalapa Township) only ask about there because I have a job there in Feb

As always it depends on the location, even within a township. Ks2-4 lakh (US$230 - 460)/month. Expect to pay 12 months in advance plus 1 months commission.

Thats less than i thought but didnt expext the year in advance!

[hansgruber]

thanks guys, I think I will hold off on investing my peanuts, I was thinking maybe I could scoop up a littlle few acres for a couple of grand in the poorest country on earth, I guess with all the corruption and drug cartels I will have to look elsewhere.

There is always North Korea.

[DagonKhan]

Thats less than i thought but didnt expext the year in advance!

It's always 13 months in advance here (12 months plus 1 month commission) unless you move into a serviced apartment or you know the landlord. It frequently catches people out. You can of course discuss this with the agent/landlord, some may be willing to rent on a six monthly basis, it's not unheard of, but certainly not the norm.

[Kiggs]

Thanks for the heads up on that one. Its not to bad as the job comes with accommodation but its always good to have a plan B. The job is on a 3mth trial so wouldn't rent at first anyway. Might be back in Thailand or the UK before we know it. Its only when you get down the little things that you find out you don't have a clue:)