Myanmar's new govt to focus on affordable housing

[webfact]

Myanmar's new govt to focus on affordable housing



NAYPYITAW: -- Many more low-priced and rental apartments are expected to be built across Myanmar under the new government according to a director general in the Ministry of Construction, reported The Myanmar Times.

The former government was unable to provide adequate affordable housing options to its lowest-income citizens, particularly in Yangon.

Several projects have been built, but high land prices and an underdeveloped banking system have delayed progress, and the new government has inherited a chronic housing shortage.

New construction minister U Win Khaing has instructed the ministry to focus on building more affordable residential units and to prioritise low-cost and rental housing projects over luxury developments, according to U Min Htein, director general of the Department of Urban and Housing Development (DUHD).

U Min Htein has suggested building more rental housing projects such as the Mahabandoola housing project in Yangon, which is offering apartments for K30,000 a month. When applications for rooms opened last month, 35,000 people applied for the 1200 apartments available.

So far, the new minister has not issued any directive on the suggestion, said U Min Htein.

Source: http://englishnews.thaipbs.or.th/content/159004


-- Thai PBS 2016-04-11

[Nicolas32]

A move in the right direction and super cheap compared to Thailand just under 900THB per month. Possibility if they can build more of these affordable homes / apartments can bring the rental market down a lot in Burma also if I was Thailand I would be very afraid of this move by the new government because really could affect Thailand in many ways on a more serious note..

Edited April 11, 2016 by Nicolas32

[bark]

A move in the right direction and super cheap compared to Thailand just under 900THB per month. Possibility if they can build more of these affordable homes / apartments can bring the rental market down a lot in Burma also if I was Thailand I would be very afraid of this move by the new government because really could affect Thailand in many ways on a more serious note..

Yes I agree. Myanmar, will have Billions of dollars pumped into the country, if they treat their people fairly. Good for the new government.

Ten years from now it will be the country to do business. Thailand , maybe not.