Downtown condominiums at the front of property boom

Downtown condominiums at the front of property boom

Downtown condominium prices are leading the charge for more expensive real estate in Yangon.

While properties across the board have increased in the last three years, a large influx of people wanting to move downtown are leading to a climbing market, even as more projects come online, real estate agents say.

The most expensive units are on the four main east–west roads in the downtown core, said Ko Sawr Lay, agent from Shwe Trigan real estate. Newly-built, good quality condominiums on Bogyoke Aung San, Anawrahta, Maha Bandoola and Strand roads now cost between K250 and K300 million each.

“Prices are so high downtown compared to two years ago, even though there are more projects,” said Ko Sawr Lay.

However, he dismissed concerns about a possible bubble in the shortterm, claiming there are increasing numbers of business and residents moving downtown.

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