Authored by the expert who managed and guided the team behind the Myanmar Property Pack
Everything you need to know before buying real estate is included in our Myanmar Property Pack
Foreigners can only buy condominiums in Myanmar, not land or houses, with ownership limited to 40% of units in any registered building.
Myanmar's property market offers high rental yields of 6-11% in Yangon as of June 2025, but foreign ownership is restricted to registered condominiums only. The market is expected to grow at 8.63% annually through 2033, making it attractive for investors who understand the legal limitations.
If you want to go deeper, you can check our pack of documents related to the real estate market in Myanmar, based on reliable facts and data, not opinions or rumors.
Foreigners can legally purchase up to 40% of units in registered condominiums but cannot own land or standalone houses in Myanmar.
No residency requirement exists for buying condos, though hiring a local lawyer is strongly recommended to navigate the complex legal process and avoid common mistakes.
| Property Type | Foreign Ownership | Key Requirements |
|---|---|---|
| Condominiums | Up to 40% of units | Must be registered under Condominium Law 2016 |
| Land | Not allowed | Leasehold up to 70 years with MIC permit |
| Houses | Not allowed | Restricted to Myanmar citizens only |
| Visa Required | For entry only | No specific visa needed for property purchase |
| Typical Condo Price | $100,000-$300,000 | Yangon market as of June 2025 |
| Rental Yields | 6-11% | Among highest in Asia |
| Capital Gains Tax | 10% | Applied on property sale profits |
What types of property can foreigners legally own in Myanmar?
Foreigners can only purchase condominiums in Myanmar, with ownership limited to 40% of total units in any registered building.
The Condominium Law of 2016 allows foreigners to own up to 40% of units in buildings that meet specific criteria: at least six floors, built on land over 20,000 square feet, and officially registered as a condominium. This is the only type of property foreigners can legally own in Myanmar.
Land and standalone houses remain completely off-limits for foreign ownership. Myanmar citizens have exclusive rights to own immovable property like land, houses, and buildings. However, foreigners with Myanmar Investment Commission (MIC) permits can lease land for up to 70 years, though this typically applies to large commercial projects rather than individual residential use.
Unlike locals who can own any type of property without restrictions, all foreigners face the same limitations regardless of nationality. There are no special privileges for investors from specific countries, though some nations have double taxation agreements with Myanmar that may affect tax obligations.
It's something we develop in our Myanmar property pack.
Do you need a visa or residency to buy property in Myanmar?
No residency requirement exists for purchasing condominiums in Myanmar - you only need a valid passport.
While most foreigners require a visa to enter Myanmar (tourist visas are typically valid for 28 days), you don't need to be a resident or hold any specific visa type to buy a condominium unit. The property purchase itself doesn't require residency status, making it accessible to foreign investors who may only visit occasionally.
However, residency does matter for tax purposes. If you stay in Myanmar for at least 183 days in a tax year, you become a tax resident, which affects your income tax rates on rental income. Non-residents face a flat 10% tax on rental income, while residents pay progressive rates from 0-25%.
Business visas and other longer-term visa categories are available for those planning extended stays, but these aren't prerequisites for property ownership. The key requirement is having valid entry documents when you need to be in the country for property-related matters.
Can you complete the property purchase remotely from outside Myanmar?
Remote purchase is possible through power of attorney, though some steps may require in-person verification.
You can complete most of the condominium purchase process remotely by granting power of attorney to a local lawyer or agent. This representative can handle paperwork, liaise with authorities, and manage the registration process on your behalf. Many foreign buyers choose this option to avoid multiple trips to Myanmar.
However, certain steps might still require your physical presence or at least notarized documents. Opening a local bank account, final registration verification, or specific government requirements may necessitate in-person attendance. Each transaction can vary depending on the developer and local regulations.
Most buyers find that using a reputable local legal representative significantly simplifies the process. These professionals understand the bureaucratic requirements and can navigate the system efficiently, whether you're present or abroad.
What taxes do foreign property owners pay in Myanmar?
Foreign property owners face several taxes including 10% on rental income and capital gains.
Non-resident foreigners pay a flat 10% tax on rental income from Myanmar properties, while residents pay progressive rates. Capital gains tax applies at 10% on profits from property sales, affecting both residents and non-residents equally. Myanmar doesn't currently levy inheritance tax, which is advantageous for estate planning.
Property tax is levied on immovable property in Yangon, including general, lighting, water, and conservancy taxes. These local taxes vary by property type and location. Stamp duty, typically 2-4% of property value, is payable on all property transfers.
Double Taxation Agreements (DTAs) with several countries may reduce tax liabilities for residents of those nations. As we reach mid-2025, it's crucial to check if your home country has a DTA with Myanmar to optimize your tax situation.
| Tax Type | Rate | Who Pays |
|---|---|---|
| Rental Income Tax (Non-resident) | 10% flat rate | All foreign property owners |
| Capital Gains Tax | 10% | Both residents and non-residents |
| Stamp Duty | 2-4% | All property buyers |
| Property Tax | Varies | Property owners in urban areas |
| Inheritance Tax | None | Not applicable |
| Income Tax (Residents) | 0-25% | Tax residents only |
| Income Tax (Non-residents) | 22% | Non-residents on non-salary income |
Don't lose money on your property in Myanmar
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What's the step-by-step process to buy property in Myanmar?
The property purchase process involves finding a registered condo, due diligence, payment from abroad, and registration within 30 days.
First, locate a condominium registered under the Condominium Law and verify it meets all legal criteria. Ensure the building has proper registration and that foreign ownership hasn't exceeded the 40% quota. This due diligence step is crucial to avoid future legal issues.
Next, sign a sale and purchase agreement, typically prepared by a local lawyer. Funds must generally be transferred from abroad to comply with anti-money laundering regulations - domestic fund transfers may not be accepted for foreign property purchases.
Register the transfer with the Registrar within 30 days of signing, paying stamp duty and applicable fees. You'll receive a housing registration certificate as proof of ownership. The entire process typically takes 4-8 weeks if all documents are in order.
- Find a registered condominium meeting legal criteria
- Verify developer's title and 40% foreign quota availability
- Conduct thorough due diligence on the property
- Sign sale and purchase agreement with legal assistance
- Transfer funds from overseas bank account
- Register transfer within 30 days with authorities
- Pay stamp duty and registration fees
- Receive housing registration certificate
Is hiring a lawyer mandatory for foreign property purchases?
Legal representation isn't mandatory but is strongly recommended due to complex regulations and risks.
While Myanmar law doesn't require foreigners to hire lawyers for property purchases, attempting to navigate the system without professional help is extremely risky. Lawyers ensure the property is eligible for foreign ownership, verify the developer's credentials, and confirm the building's registration status under the Condominium Law.
A competent lawyer handles due diligence, contract drafting, registration procedures, and ensures compliance with all regulations. They negotiate with developers, manage paperwork in Myanmar language, and register the transaction with relevant authorities. This professional guidance is invaluable in avoiding costly mistakes.
Legal fees typically range from $1,000 to $3,000 depending on transaction complexity. Considering that condo prices in Yangon range from $100,000 to $300,000 as of June 2025, this investment in legal expertise represents a small percentage of the total cost while providing significant protection.
It's something we develop in our Myanmar property pack.
Where do most foreigners choose to live in Myanmar?
Yangon dominates as the main expat hub, with Sanchaung, Yankin, and Bahan being the most popular neighborhoods.
Yangon attracts the vast majority of foreign residents due to its urban amenities, international connections, and established expat communities. Within Yangon, Sanchaung stands out as the expat favorite for its central location and vibrant atmosphere. Yankin appeals to families, while Bahan offers a wealthy, quiet environment preferred by diplomats and senior executives.
Downtown Yangon provides a vibrant, historical setting with colonial architecture, while Chinatown offers excellent nightlife options. For those seeking luxury and tranquility, the Inya Lake area provides upscale living with scenic views and peaceful surroundings.
Mandalay, Myanmar's second-largest city, hosts a growing expat community attracted by its cultural significance and economic opportunities. Naypyitaw, the administrative capital, mainly houses diplomats and government workers but lacks the vibrant expat scene found in Yangon.
Emerging areas include Kalaw in Shan State for hospitality ventures, coastal Myeik for tourism development, and Pyin Oo Lwin for its cool climate and tourist appeal. These smaller cities offer niche opportunities for specific investor profiles.
Which areas offer the best investment potential in Myanmar?
Yangon offers 6-11% rental yields with moderate growth, while Mandalay shows strong appreciation potential.
Yangon's residential market provides some of Asia's highest rental yields at 6-11% as of mid-2025. The city combines established infrastructure, diverse neighborhoods, and strong rental demand from both locals and expats. Property prices rose 4-6% in 2024, though growth is expected to slow to under 10% in 2025 due to economic uncertainties.
Mandalay presents strong growth prospects with infrastructure improvements driving demand. Property prices increased 6.3% in 2024, with continued appreciation expected due to land scarcity and urban development. The city offers rental yields around 6-7%, slightly lower than Yangon but with better capital appreciation potential.
| Location | Rental Yield | Growth Forecast | Best For |
|---|---|---|---|
| Yangon | 6-11% | Moderate | Rental income, established market |
| Mandalay | 6-7% | Strong | Capital appreciation, growth |
| Kalaw | N/A | High | Hospitality, tourism ventures |
| Myeik | N/A | High | Coastal development, tourism |
| Pyin Oo Lwin | High (short-term) | High | Tourist rentals, vacation homes |
| Naypyitaw | Low | Low | Government-related tenants |
| Market CAGR | - | 8.63% | 2025-2033 projection |
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.
What are current property prices across Myanmar's main cities?
Yangon condos range from $100,000 to $300,000, with prices up 4-6% in 2024 but growth slowing in 2025.
As of June 2025, Yangon condominium prices typically fall between $100,000 and $300,000, with per-square-foot prices ranging from $136 to $159. The most expensive areas include Bahan, Latha, and Lanmadaw, where luxury properties command premium prices. House prices vary dramatically from $88,100 to $1.38 million depending on location and size.
Mandalay's property market shows average prices around $387 per square foot, reflecting a 6.3% increase in 2024. The city's growth is driven by land scarcity and increasing urbanization, making it an attractive alternative to Yangon for investors seeking appreciation.
Myanmar's residential real estate market is projected to grow at a compound annual growth rate of 8.63% from 2025 to 2033. However, immediate growth in 2025 is expected to remain below 10% in major cities due to political and economic uncertainties affecting buyer confidence.
Price variations depend heavily on location, building quality, and amenities. New developments with modern facilities command higher prices, while older buildings or those in less desirable locations offer more affordable entry points for foreign investors.
What mistakes do foreigners commonly make when buying Myanmar property?
The biggest mistakes include assuming you can buy land, not verifying condo registration, and falling for scams.
Many foreigners wrongly assume they can purchase land or houses in Myanmar. This fundamental misunderstanding leads to wasted time and potential legal issues. Foreigners can only buy condominiums in registered buildings, with ownership capped at 40% of total units.
Not verifying if a condominium is properly registered under the Condominium Law is another critical error. Only buildings meeting specific criteria and holding proper registration can legally sell to foreigners. Buying in unregistered buildings means your ownership won't be recognized legally.
- Attempting to buy land or standalone houses (completely prohibited for foreigners)
- Not checking if the building is registered under Condominium Law 2016
- Failing to verify the 40% foreign ownership quota hasn't been exceeded
- Paying money before completing thorough due diligence
- Working with unlicensed agents or avoiding legal representation
- Falling for deals that seem too good to be true
- Not checking developer credentials and track record
- Ignoring the requirement to transfer funds from overseas
- Missing the 30-day registration deadline after purchase
- Assuming rules are similar to neighboring countries
Can foreigners get mortgages in Myanmar?
Mortgage options for foreigners are extremely limited, with most banks requiring local income and collateral.
Myanmar's banking sector offers very restricted mortgage options for foreigners. Since foreigners can only own condominiums, and banks typically require the property to be in the borrower's name as collateral, financing options remain scarce. Most foreign buyers need to arrange cash purchases or secure financing from their home countries.
Some local banks like AGD Bank and MCB offer home loans, but these typically target residents with local income sources and substantial collateral. Interest rates hover around 12-15% per annum, significantly higher than international standards. Minimum down payments of 30% are standard, with loan terms extending up to 25 years.
To improve mortgage approval chances, maintain a strong credit profile, provide a larger down payment (40-50%), and demonstrate stable income from Myanmar sources. Having a local guarantor or additional collateral can also help. However, as of mid-2025, most foreigners still rely on cash purchases rather than local financing.
It's something we develop in our Myanmar property pack.
What are all the costs involved in buying and owning property in Myanmar?
Budget for stamp duty (2-4%), agent fees (1-3%), legal costs ($1,000-$3,000), plus ongoing taxes and maintenance.
Beyond the property price, buyers face stamp duty of 2-4% of the property value, a significant upfront cost. Registration fees vary by region and property type but typically add several hundred dollars. Real estate agent commissions range from 1-3% and are negotiable, while legal fees usually fall between $1,000 and $3,000 depending on transaction complexity.
Ongoing costs include monthly maintenance fees that vary by building and amenities, property taxes in urban areas (including general, water, lighting, and conservancy taxes in Yangon), and rental income tax at 10% for non-residents. When selling, you'll pay 10% capital gains tax on any profit.
Additional expenses often overlooked include bank transfer fees for international payments, currency exchange costs, property insurance, due diligence fees, notary charges, and potential translation costs for documents. Budget an extra 5-10% above the property price for all transaction-related expenses.
| Cost Type | Amount/Rate | When Paid |
|---|---|---|
| Property Price | $100,000-$300,000 (Yangon) | At purchase |
| Stamp Duty | 2-4% of value | At registration |
| Agent Commission | 1-3% (negotiable) | At closing |
| Legal Fees | $1,000-$3,000 | Throughout process |
| Registration Fees | Varies by region | At registration |
| Maintenance Fees | Monthly varies | Ongoing |
| Property Tax | Local rates | Annual |
| Rental Income Tax | 10% (non-resident) | On rental income |
| Capital Gains Tax | 10% on profit | When selling |
| Miscellaneous | 5-10% of price | Various stages |
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Myanmar's property market offers unique opportunities for foreign investors who understand its limitations. With rental yields of 6-11% in Yangon and projected market growth of 8.63% annually through 2033, the investment potential remains strong despite restrictions.
Success requires focusing exclusively on registered condominiums, working with reputable legal professionals, and avoiding common pitfalls like attempting to buy land. As Myanmar's economy develops, early investors who navigate the system correctly may benefit from both rental income and capital appreciation.
Sources
- BambooRoutes Myanmar Real Estate Guide
- Multilaw Real Estate Guide Myanmar
- Move to Asia Myanmar Property Guide
- Charltons Myanmar Property Law
- Global Property Guide Myanmar
- Deloitte Myanmar Tax Highlights 2024
- Myanmar Residential Real Estate Market Report
- Mingalar Real Estate Conversation
- InvestAsian Myanmar Property Guide
- AGD Bank Home Loan Information