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What will happen in Myanmar’s real estate market? Will prices go up or down? Is Yangon still a hotspot for foreign investors? How is Myanmar’s government impacting real estate policies and taxes in 2025?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with notaries, real estate agents, and clients who buy properties in Myanmar, we’ve gained firsthand insights.
That’s why we created this article: to provide clear answers, insightful analysis, and a well-rounded perspective on market predictions and forecasts.
Our goal is simple: to ensure you feel informed and confident about the market without needing to look elsewhere. If you think we missed the mark or could do better, we’d love to hear your thoughts. Feel free to message us with your feedback or comments, and we’ll work hard to improve this content for you.
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1) Foreign investors will find it easier to buy homes in Myanmar due to regulatory changes
Myanmar is making it easier for foreigners to buy property.
In 2016, Myanmar introduced the Condominium Law, allowing foreigners to own up to 40% of a condo building. This was a game-changer for foreign investors who previously couldn't own property in the country. Imagine owning a piece of a high-rise in bustling Yangon, a city that's rapidly modernizing and offering new opportunities. The law has opened doors for those looking to invest in Myanmar's growing urban landscape.
Another significant change came with the Myanmar Companies Law of 2017. This law permits local companies to have up to 35% foreign shareholding. What does this mean for you? It means you can indirectly own land by partnering with local companies. This is a clever workaround for foreign investors eager to tap into Myanmar's real estate market, especially in areas like Mandalay, where land values are on the rise.
The government isn't stopping there. They've been actively promoting foreign investment through various policy initiatives. In 2017, they introduced a new comprehensive Investment Law to streamline investment regulations. This move shows the government's commitment to making Myanmar a more attractive destination for foreign investors. With these changes, the real estate sector is becoming a hot spot for international buyers.
For those eyeing Myanmar's real estate, these regulatory changes are a big deal. They not only make it easier to invest but also signal a shift towards a more open and investor-friendly environment. The government's efforts are paying off, as more foreign investors are now considering Myanmar as a viable option for property investment.
So, if you're thinking about buying property in Myanmar, now might be the perfect time. With the new laws and policies in place, the process is becoming more straightforward. Whether you're interested in a condo in Yangon or land in Mandalay, the opportunities are expanding. The government's push for foreign investment is creating a more accessible market for international buyers.
Sources: Investment Policy Monitor, Open Development Myanmar, ASEAN Briefing
2) Yangon's rents will keep rising as the city's economy grows
Rents in Yangon are on the rise as the city experiences economic growth.
Yangon's population has exploded, jumping from about 5.6 million to nearly 10 million. This surge is largely due to people fleeing civil unrest and other crises, leading to a serious housing shortage. As a result, rents have almost doubled since early 2023.
Adding to the pressure, many multinational companies are setting up shop in Yangon. This influx of businesses is not only boosting the local economy but also increasing the demand for housing, especially in downtown areas where rents are already climbing.
The situation is worsened by the limited number of new residential developments. With just over 300,000 apartments in central Yangon, the demand far exceeds supply. This imbalance is a classic recipe for rising rents, a trend that has been evident since 2023.
In urbanizing cities, such conditions typically lead to increased rents. Yangon is no exception, as the city continues to attract more professionals who need housing, further driving up rental prices.
Sources: RFA, GNLM, Mordor Intelligence
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Myanmar versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
3) Yangon's property prices will keep rising because of limited land and growing urbanization
Yangon's population is booming, expected to hit over 5.9 million by 2025.
This surge is largely due to people flocking to the city, often escaping civil unrest, which has created a housing crunch and pushed rents higher. As more people call Yangon home, the demand for housing has skyrocketed.
One major issue is the limited land available for new housing. Government reports emphasize this scarcity, which naturally leads to higher property prices as demand continues to outpace supply.
In the outskirts, new satellite townships are popping up, but even there, property prices are climbing due to the high demand and limited land options.
For those considering buying property in Yangon, it's crucial to understand that urbanization is rapidly increasing, further driving up the need for residential spaces.
With the city's growth showing no signs of slowing, residential property prices are expected to keep rising, making it a potentially lucrative investment.
Sources: World Population Review, Radio Free Asia, Global New Light of Myanmar
4) Rental yields in Mandalay will dip slightly as new developments boost supply
Mandalay is seeing a boom in new residential developments, with over 5,000 new apartments added to the market.
Thanks to the Ministry of Construction's projects, the supply of rental properties has surged. This means more choices for tenants, but it also means older properties are facing stiffer competition.
With all these new options, vacancy rates in older buildings are climbing. Tenants are drawn to the modern amenities in new developments, leaving landlords of older properties scrambling to fill their units.
Real estate agencies are noticing an oversupply, which usually means rental yields are taking a hit. More properties than tenants mean landlords might have to lower rents to attract interest.
Surveys highlight that tenants prefer the newer developments, which is shifting demand away from older units. This preference is pushing rental prices down for older properties, further affecting rental yields.
Sources: Eleven Myanmar, Ascendix Tech
5) Rural property prices will stay steady as people keep moving to cities
Urban migration in Myanmar is on the rise, with more people moving to cities each year.
Despite this trend, rural populations aren't shrinking dramatically. People are still choosing to stay in rural areas, keeping the population numbers stable.
Take South Okkalapa township, for example. While urban areas are seeing a real estate boom, property prices in rural areas have stayed stable. In new townships, prices have doubled, but rural areas haven't experienced such spikes.
This stability is largely due to lower demand for rural properties. With fewer people looking to buy, prices don't have the pressure to rise quickly.
Experts and government reports agree that urban migration has minimal impact on rural property markets. The focus is on developing urban areas, leaving rural property prices largely unchanged.
So, while cities are expanding, rural property markets remain steady, offering a stable investment opportunity.
Sources: Global New Light of Myanmar, Trading Economics, UN Habitat Myanmar
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6) Coastal property prices will rise gradually as buyers prioritize climate resilience
In Myanmar, climate change is reshaping the real estate market.
With recent challenges like severe flooding and coastal erosion, buyers are now prioritizing climate resilience. The government is stepping up with initiatives like the Myanmar Climate Change Policy and the National Adaptation Programme of Action (NAPA), focusing on sustainable development to combat issues like sea-level rise.
There's a noticeable trend towards sustainable and eco-friendly properties. By 2025, more people are looking for tech-smart, energy-efficient homes that can handle environmental changes. This shift shows a growing awareness of climate issues among buyers.
As climate resilience becomes a hot topic in media and public discussions, the real estate market is adapting. Properties that can withstand environmental challenges are becoming more desirable, leading to a gradual increase in coastal property prices.
Buyers are increasingly interested in homes that offer better protection against climate risks. This demand is driving up prices in coastal areas, as people seek out properties that promise safety and sustainability.
Expect to see more developments focusing on climate-resilient features as the market continues to evolve. This trend is not just about luxury; it's about necessity, as climate change impacts become more pronounced.
7) Mandalay’s property prices will rise moderately as it grows into a regional trade hub
Mandalay is on the brink of a moderate price increase as it transforms into a regional trade hub.
One of the main reasons for this shift is the improved transportation links that connect Mandalay to other regional markets. The Greater Mekong Subregion economic corridors are a game-changer, enhancing connectivity and boosting trade volumes through Mandalay. This makes the city a strategic spot for trade, attracting businesses and investors alike.
Trade activity is on the rise, with Myanmar's ports and logistics centers seeing a surge in activity. In 2022, there was a notable increase in container port throughput, hinting that Mandalay is reaping the benefits of this growth. As trade volumes climb, so does the demand for goods and services, which naturally nudges prices upward.
Industrial zones are expanding, and projects like the Myingyan power plant are drawing in foreign direct investment. This influx is a boon for Mandalay's commercial sectors, sparking economic activity. As more investors pour in, the demand for commercial and residential properties is likely to rise, pushing prices higher.
For those considering buying property in Mandalay, it's worth noting that the city is becoming a magnet for investment. The combination of improved infrastructure and increased trade activity is setting the stage for a vibrant economic future. As Mandalay continues to grow, the real estate market is expected to follow suit, making it an attractive option for potential buyers.
With these developments, Mandalay is positioning itself as a key player in the region. The city's transformation into a trade hub is not just a possibility; it's already underway. As the city evolves, the opportunities for growth and investment are becoming more apparent, making it a compelling choice for those looking to invest in property.
Sources: Baker McKenzie, CEIC Data, Greater Mekong Subregion
8) Rental yields in rural areas will stay steady as urban migration lowers demand
In Myanmar, urban migration has slowed down, changing the real estate landscape.
With fewer people moving to cities, urban rental demand is decreasing, making rural areas more appealing for property investment. In fact, rural rental yields in Myanmar are among the highest globally, ranging from 13.3% to 16.0%, according to Numbeo.
People are choosing rural life due to better local opportunities and infrastructure. The Myanmar government is enhancing rural areas with projects like improved roads and electricity, making them more attractive for living and investing.
The rise of remote work is another factor, allowing people to live outside urban centers. This shift supports stable rental yields in rural areas as more people seek a peaceful lifestyle and better work-life balance.
Rural areas are maintaining or even increasing rental demand, despite the reduced urban migration. This trend is driven by the desire for tranquility and the ability to work remotely, which is reshaping where people choose to live.
Sources: The IGC, Asian Development Bank
We have made this infographic to give you a quick and clear snapshot of the property market in Myanmar. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
9) Rental yields in Yangon will rise as rental demand exceeds supply
Rental yields in Yangon are climbing as demand for rental properties outpaces supply.
People are flocking to Yangon for better jobs and living standards, which means more folks need places to live. This surge is especially noticeable in the apartment and affordable housing sectors. The city's allure isn't just for locals; expats and international businesses are also eyeing Yangon, adding to the demand for both homes and offices.
But here's the catch: new housing developments are lagging. Construction delays are common, and this means fewer new homes are hitting the market. The crunch is felt most in the affordable and mid-range housing segments, where demand often outstrips supply.
Government efforts to attract foreign investment could shake things up. These initiatives might boost the property market, indirectly benefiting rentals by increasing the availability of rental properties. Yet, the current scenario is a classic case of demand outpacing supply.
For those considering buying property, this trend suggests that rental yields will likely keep improving. The city's growth and the influx of new residents and businesses are key drivers. Yangon's rental market is buzzing, and it's a good time to be part of it.
With limited new housing and a growing population, the rental market is poised for continued growth. Investors are taking note, seeing the potential for solid returns as the city evolves.
Sources: Savills Yangon Market Brief Q3 2014
10) Demand for urban living spaces in downtown Yangon will rise as young professionals seek vibrant city life
Yangon's downtown is buzzing with young professionals seeking vibrant urban living.
In 2023 and 2024, 72% of Myanmar's internal migrants were young adults aged 18 to 34, flocking to cities like Yangon for better jobs and living standards. This shift is transforming the city into a lively hub, especially after dark.
Yangon's nightlife is booming, with new bars, clubs, and dining spots popping up, making it a magnet for young professionals. The city has evolved from a quiet place into a bustling urban scene, reflecting broader social and economic changes. Co-working spaces and startups are sprouting, offering dynamic job opportunities and a vibrant lifestyle.
The heart of Yangon is becoming even more appealing with its expanding retail and dining options. Trendy rooftop bars and upscale restaurants cater to a diverse crowd, enhancing the area's charm. Social media trends are also spotlighting Yangon's urban lifestyle, drawing more young professionals to the city.
Yangon's transformation is not just about nightlife; it's about creating a dynamic environment where young people thrive. The city's cultural events and vibrant atmosphere are key attractions. Young professionals are seeking not just jobs but a lifestyle that offers excitement and growth.
As more young people move to Yangon, the demand for urban living spaces is set to rise. The city's downtown area is becoming a hotspot for those looking for a lively and engaging environment. Yangon's appeal lies in its ability to offer both professional opportunities and a vibrant social scene.
Sources: UNDP, Insight Myanmar
11) Demand for large family homes in rural areas will drop as the population ages
By 2035, Myanmar will have more people aged 60 and older than children under 15.
As the population ages, fewer young families will need large homes. This shift is partly because younger folks are heading to cities for better jobs and living conditions. It's a trend seen in many developing countries, and in Myanmar, about 12% of households have internal migrants, while nearly 8% have international migrants. This means fewer young people are sticking around in rural areas to fill those big family homes.
Another factor is the drop in birth rates. Since the 1980s, Myanmar's fertility rate has more than halved, now at 2.25 children per woman. Smaller family sizes mean less need for large homes. As families shrink and younger generations move away, the number of multi-generational households is expected to decrease, further reducing the demand for larger homes.
In rural areas, this aging trend is even more pronounced. With fewer young people around, the demand for big family homes is dwindling. Instead, there's a growing need for smaller, more manageable living spaces for older residents. This shift in housing needs is something to consider if you're thinking about buying property in the countryside.
For those looking to invest in rural properties, it's worth noting that the market is changing. The focus is moving away from large family homes to smaller, more practical options. This could mean opportunities for those interested in developing or renovating properties to meet the needs of an aging population.
Understanding these trends can help you make informed decisions about property investments in Myanmar. As the population continues to age and urban migration persists, the demand for large family homes in rural areas is likely to keep decreasing.
Sources: HelpAge International, The Situation of Older Persons in Myanmar, Impacts of Migration on Households in the Dry Zone, Myanmar
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12) Rent prices in Mandalay will stay stable as new housing developments meet demand
Mandalay is buzzing with new housing projects, including a massive USD 184 million mixed-use development.
These developments are not just about buildings; they’re about attracting foreign investment and boosting local infrastructure. This means more homes are available, which helps keep rent prices steady.
The Myanmar Residential Real Estate Market is on the rise, with projections showing it could hit USD 1.38 billion by 2024. This growth is a clear sign that Mandalay is focusing heavily on housing, which is great news for renters looking for stable prices.
The government is also stepping in with public rental housing projects. These initiatives are not only improving living conditions but also creating job opportunities, which is a win-win for everyone involved.
With a stable job market, people in Mandalay can afford their rent without too much stress. This balance between jobs and housing is key to keeping rent prices from skyrocketing.
Sources: Construction Property, Mordor Intelligence
13) Rural rents will stay the same as more people move to cities
People in Myanmar are increasingly moving from the countryside to cities like Yangon and Mandalay, seeking better job opportunities and higher wages.
Yangon's metro area has seen a steady population increase, growing by 1.78% from 2023 to 2024. This urban migration trend is quite noticeable as more individuals flock to these bustling urban centers.
Interestingly, the rural population hasn't changed much. In 2023, it was about 37 million, increasing by just 0.23% from the previous year. This indicates that while many are moving to cities, the rural areas aren't emptying out rapidly.
The government is heavily investing in urban development, focusing on infrastructure projects in major cities. This shift in resources means rural areas might see less investment, potentially affecting property values there.
With more attention and resources going to urban areas, rural property values could remain stable or even decline. This is something to consider if you're thinking about buying property in the countryside.
As urbanization continues, rural rents are likely to stay unchanged, making it an interesting time for potential buyers looking at rural properties.
Sources: Macrotrends, Lowy Institute, Macrotrends, World Population Review, World Bank
14) High-rise apartment demand will increase as urban land becomes limited
In recent years, Myanmar's urban population has been steadily increasing, with more people choosing city life.
As more folks move to cities, land in urban areas like Yangon and Mandalay is becoming scarce, driving up prices. This makes it tough to build low-rise homes, so developers are leaning towards high-rise buildings. The government is on board too, pushing for high-density housing with public rental projects in key cities.
Real estate reports highlight a shift towards vertical living, with an 80.6% increase in new housing units from 2021 to 2023, many of which are high-rise condos. This trend is fueled by international investments, which often favor high-rise developments.
For those considering buying property, it's worth noting that high-rise apartments are becoming more popular as urban land becomes limited. This trend is not just about space; it's also about lifestyle, with many high-rises offering amenities that appeal to city dwellers.
In cities like Yangon, the demand for high-rise living is expected to grow as more people seek the convenience and benefits of urban life. This shift is reshaping the real estate landscape, making high-rise apartments a smart choice for future homeowners.
As urban areas continue to expand, the focus on high-rise developments will likely intensify, offering a modern solution to the challenges of limited urban space.
Sources: Mordor Intelligence, Krungsri Research, Macrotrends
We made this infographic to show you how property prices in Myanmar compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
15) Property demand in Bago will rise significantly as industrial development speeds up
Bago is experiencing a boom in foreign direct investment, especially in its industrial sector.
In November 2023, Bago attracted a significant foreign investment project valued at $1.622 million, with an additional $7 million approved for an existing business. This is part of a larger trend from February 2021 to May 2024, where the region saw $200.115 million in foreign direct investments, creating 12,490 job opportunities.
The government is actively encouraging this growth by inviting investors to focus on manufacturing agricultural machinery, producing fertilizers, and setting up cold storage facilities. These efforts aim to enhance Bago's industrial capabilities and draw in more businesses.
As new factories and industries pop up, there's a growing need for housing due to workers moving to Bago. This influx is likely to push property prices higher. Plus, ongoing infrastructure upgrades, like new roads and transport links, are making the area more appealing to both local and foreign investors.
For those considering buying property in Bago, it's worth noting that the region is becoming a hub for industrial development. This means not only potential appreciation in property values but also a vibrant community with increasing amenities.
16) Demand for eco-friendly homes will grow as people become more environmentally conscious
People are increasingly interested in eco-friendly homes as environmental awareness grows.
In Myanmar, the government is pushing for sustainable development with plans to build 1 million eco-friendly homes by 2030. This isn't just about policy; it's what people want. Nearly half of survey respondents are interested in sustainable housing, showing a shift towards eco-conscious living.
Local companies like Shwe Taung Group are stepping up by producing sustainable building materials locally. This reduces costs and environmental impact, setting a standard for others. The Global Green Growth Institute supports these efforts, emphasizing the importance of sustainable urban development.
Media coverage is also playing a role, highlighting the benefits of eco-friendly homes and educating the public. This makes sustainable living more appealing, especially with green building standards becoming part of national regulations.
Social media trends are amplifying this shift, making eco-friendly homes a significant change in how we view our living spaces. It's not just a trend; it's a movement towards a more sustainable future.
Sources: Meridian Allen Press, Shwe Taung Group, Global Green Growth Institute, National Association of REALTORS
17) Virtual reality tours will transform property viewings, simplifying the process for international buyers
Virtual reality tours are revolutionizing how people view properties, especially for those buying from abroad.
In recent years, over half of adults have tried a virtual tour, and a striking 67% of home buyers want this feature when looking at listings. This shows how VR is changing the way we explore homes from a distance.
Homes with virtual tours get 87% more views, and people spend 5-10 times longer on these sites. This means VR tours not only draw more attention but also keep potential buyers engaged, which is vital for international buyers who can't easily visit in person.
In Myanmar, the demand for property is rising, with 638 condo units worth 3.24 billion baht sold to Myanmar nationals in early 2024. VR tours make it easier for these buyers to explore options without traveling.
For international buyers, VR tours are a game-changer, offering a convenient and immersive experience that saves time and effort. This technology is especially useful when travel is restricted or time is limited.
As more people embrace virtual tours, the real estate market is adapting, making it simpler for buyers worldwide to find their dream home. VR technology is here to stay, transforming the property viewing process.
Sources: Times Property, Bangkok Post, PhotoUp
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18) Tech-savvy buyers will be drawn to new developments featuring standard smart home technology
Smart home technology is becoming a must-have in new property developments.
In Myanmar, the digital landscape is rapidly evolving. By 2023, 52% of the population had internet access, and with over 30 million mobile subscribers, connectivity is on the rise. This surge in digital access is paving the way for smart home technology to become more appealing to tech-savvy buyers.
Smartphones are at the heart of this transformation. By 2025, 63% of the population is expected to use smartphones, which often serve as the control center for smart home devices. This growing smartphone adoption is fueling the demand for smart home products, making them an integral part of modern living.
Urbanization is another driving force. As more people move to cities, the home automation market in Myanmar is expanding. Developers are keen to include smart home features in new projects, offering benefits like convenience, energy efficiency, and enhanced security to meet the needs of modern buyers.
Media in Southeast Asia, including Myanmar, is buzzing about smart homes, raising awareness and interest. Partnerships between tech companies and real estate developers are making affordable smart home solutions more accessible in new housing developments, further boosting their popularity.
Sources: DataReportal, Internet in Myanmar, TBS News, Weber Shandwick, 6Wresearch
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.