Seen - An Outrageous Real Estate Ad In Yangon

[SeaVisionBurma]

Came across this gem on a community message board today. It was made by a realtor in Yangon.

This is the house for Ambassadors, CEO's and Top Execitives!

A Brand new 3 RC house in Golden Valley.

One of the best house in Yangon thus far.

Too many things to list for this house.

Everything is top of the line. This house is truly build to western taste, style and quality.

The rent is US$15,000.

It will worth every penny you spend on rent on this house. Consider people pay $4, 5, 6, 7 thousand dollars junk houses around Yangon, this jewel is a BIG BARGAIN. PERIOD

VIEWING THE BY APPOINTMENT ONLY PLEASE.
SERIOUS INQUIRY ONLY.

Best regards,

XXXXXX (name & business details removed)

The replies were humorous but critical - and the advertiser did not react well.

His response was incredible, but he then decided to go one further and offer a block for sale

0.8 acres on Inya Road for - wait for it - an incredible USD$26 million.

So - does anyone have any interesting tales regarding the tight property market in Yangon?

When will these ridiculous prices end??

[DagonKhan]

Any idiot who shells out that much money for a house here is either stupid, or it's someone else who's paying for it (i.e. their Company, Organisation etc.).

You can find perfectly good houses around the Inya Lake area in the US$1,500 to US$3,000 bracket. Perfectly good condos for for US$700 - US$1,500. You can even lease a room from the smaller hotels on a monthly basis for far more reasonable amounts than what he has described. US$5,000-6,000 for a serviced apartment (2-3 bedrooms) if you really want to shell out.

Personally I'd rather live 5 minutes further away, live in similar (or better) accommodation and pay no more than US$1,000 to US$1,500. But that's just me.

As for the location, well let me put it this way, unless I had a really good reason the live in Golden Valley I wouldn't touch it with a barge pole. It's not what it used to be. Much of the land has been subdivided and there's a multitude of concrete monstrosities there now. The primary reason I wouldn't consider it is because of the traffic, I really can't think of a worse location to live in.

[mingalaba]

What? You cant think of a worse location to live in? We are talking about Shwe Taung Kyar (Golden Valley Road) here?

[DagonKhan]

What? You cant think of a worse location to live in? We are talking about Shwe Taung Kyar (Golden Valley Road) here?

Yes. Yes and Yes (although I'm referring to the area itself, not one particular road).

[Kiggs]

Its just insane the prices they are trying to charge! Well not trying to charge,they are charging it and getting it most of the time cos there is always someone that daft to pay.

I stayed in GV for 3mths then we moved to Yankin and although its a two bed appartment and not a 5 bed house its still a better place to live. Plus you dont get the added GV tax when you get a taxi:)

[CP3]

People are just paying for the name. Just like Mahattan. Why people stay there when they can live somewhere else for cheaper right?

[DagonKhan]

To be fair, 20 years ago it was a lovely place to live. With all the traffic and all the new developments the character of the area has been totally destroyed.

[Loptr]

Link please. I just love abusing ridiculous real estate speculators.

[SeaVisionBurma]

Can't post a link here as per forum rules, besides it is a google message board which needs an invitation - PM sent with info.

[mingalaba]

I am not an expert about Yangon but most of the times I have to stay there, I stay at Shwe Taung Kyar Road. The traffic is still basically the same as it´s been 3 years ago and the overall character has also stayed the same. Only difference is that nowadays you often see tourists walking around coming/going to there Hotel. What area do people mean when they say "Golden Valley"? Golden Valley means Shwe Taung Kyar in Myanmar language. I wasn´t aware that Golden Valley is supposed to be an entire area of Yangon instead of just a road/neighborhood.

I find Yangon in general the place I like the least in Myanmar, glad that Air Asia is now having regular flights from Mandalay to Bangkok. The traffic jams in Yangon are unbearable these days. Entire downtown area is an ugly, overcrowded place that is best avoided. I can´t understand how anyone can stay there for more then a few days.

[SeaVisionBurma]

mingalaba, on 10 May 2013 - 23:16, said:

What area do people mean when they say "Golden Valley"? Golden Valley means Shwe Taung Kyar in Myanmar language. I wasn´t aware that Golden Valley is supposed to be an entire area of Yangon instead of just a road/neighborhood.

Yes - Golden Valley is an area - its not just a road, but it is a whole neighbourhood.

Roughly speaking - it is the central parts of an area bounded by Inya Road, University Avenue, Inya Myaing Road, and Dhamazedhi Road. Thanlwin Road runs up the middle of it.

[DagonKhan]

I find Yangon in general the place I like the least in Myanmar, glad that Air Asia is now having regular flights from Mandalay to Bangkok. The traffic jams in Yangon are unbearable these days. Entire downtown area is an ugly, overcrowded place that is best avoided. I can´t understand how anyone can stay there for more then a few days.

I think you've nailed it! I totally agree with what you've written. Unfortunately (for me at least), Yangon is the commercial capital and that's where I need to be. Given a choice, it's the last place I would choose to live in Myanmar.

Back on topic, people coming to work here need to seriously think about where they're going to live with regards to the traffic. Years ago I used to live on one side of the city and I commuted to the other. That used to take me 1/2 hour tops, now it would be a 2 hour commute.

Yangon desperately needs one of those sky trains or underground railway, but that has to be 20 years away...

[mingalaba]

I find Yangon in general the place I like the least in Myanmar, glad that Air Asia is now having regular flights from Mandalay to Bangkok. The traffic jams in Yangon are unbearable these days. Entire downtown area is an ugly, overcrowded place that is best avoided. I can´t understand how anyone can stay there for more then a few days.

I think you've nailed it! I totally agree with what you've written. Unfortunately (for me at least), Yangon is the commercial capital and that's where I need to be. Given a choice, it's the last place I would choose to live in Myanmar.

Back on topic, people coming to work here need to seriously think about where they're going to live with regards to the traffic. Years ago I used to live on one side of the city and I commuted to the other. That used to take me 1/2 hour tops, now it would be a 2 hour commute.

Yangon desperately needs one of those sky trains or underground railway, but that has to be 20 years away...

Yeah...That´s not going to happen anytime soon. I don´t see how the government is going to deal with the increasing number of cars. It´s not like there is enough room to just build bigger roads. Maybe allowing motorbikes to enter the city? But that might make it even worse, no idea. What kind of an job do you have in Yangon?

mingalaba, on 10 May 2013 - 23:16, said:

What area do people mean when they say "Golden Valley"? Golden Valley means Shwe Taung Kyar in Myanmar language. I wasn´t aware that Golden Valley is supposed to be an entire area of Yangon instead of just a road/neighborhood.

Yes - Golden Valley is an area - its not just a road, but it is a whole neighbourhood.

Roughly speaking - it is the central parts of an area bounded by Inya Road, University Avenue, Inya Myaing Road, and Dhamazedhi Road. Thanlwin Road runs up the middle of it.

Ok. I get it now. But I am not sure why people dislike the area so much. Traffic has gotten worse but that´s also true for any other area of Yangon. Same goes for the increasing prices ...

[hyperdimension]

I don´t see how the government is going to deal with the increasing number of cars. It´s not like there is enough room to just build bigger roads.

How about immensely increasing car tax?

What other realistic option is there in the short to medium term?

I think I read somewhere that they were thinking of upgrading the existing dilapidated rail system, as the line circles the city.

[DagonKhan]

There was a story in the press last year about how they were importing 3,000 new buses. They even talked about the team of 20 odd Japanese mechanics that would accompany the buses and train the people here how to maintain them. I haven't seen any of these on the roads here in Yangon. I still see Dyna's and even Hi-lux's. I believe it has been reported that 90%+ rely on public transport to get to work, no idea how accurate that figure is but it appears reasonable to me. If they could replace the multitude of crap they have with these new buses it would mark a serious improvement. If they kept fares low then it would help reduce the number of taxis on the road as well.

I think more drastic measures are necessary than just increasing the annual car tax (which is ridiculously cheap), I'd increase the tax on petrol as well. Question is; will any of that additional revenue be used for more permanent solutions? I doubt it.

[onthemoon]

I don´t see how the government is going to deal with the increasing number of cars. It´s not like there is enough room to just build bigger roads.

How about immensely increasing car tax?

What other realistic option is there in the short to medium term?

I think I read somewhere that they were thinking of upgrading the existing dilapidated rail system, as the line circles the city.

People want cars. Making the privilege exclusive for the rich is certainly one way of dealing with it, but fair it is not.

But it is true that the roads are narrow, and while a few more cars could be squeezed in with more traffic rules discipline, Yangon does have a problem.

A classic dilemma.

[onthemoon]

People are just paying for the name. Just like Mahattan. Why people stay there when they can live somewhere else for cheaper right?

Manhattan is not the same as Yangon. People pay for the prices in Manhattan because they get value for money. Starting from infrastructure via technology and "everything works" (with minor exceptions) to a quality of life (day and night) hardly matched by any other city in the world. Why would you live in Brooklyn if you can live in Manhattan?

I don't think Yangon is in that league though. Sorry. Maybe in 20 years, we can talk again then.

Off-topic side question: Have you ever been to Manhattan?

[hyperdimension]

People want cars. Making the privilege exclusive for the rich is certainly one way of dealing with it, but fair it is not.

But it is true that the roads are narrow, and while a few more cars could be squeezed in with more traffic rules discipline, Yangon does have a problem.

A classic dilemma.

So if wealth is not the key factor that separates who gets a car and who doesn't, then what else is there? Yes "it's not fair", but life isn't meant to be fair. Would it be good if everyone, rich and poor, had the ability to buy a car, and did so?