Authored by the expert who managed and guided the team behind the Burma (Myanmar) Property Pack
Everything you need to know before buying real estate is included in our Myanmar Property Pack
What do the latest numbers reveal about Myanmar’s real estate market? Are property prices on the rise, or are they stabilizing? Which cities offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Myanmar, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
1) Property values in secondary cities like Mandalay rose by 5-6% in 2024
In 2024, properties in secondary cities like Mandalay saw a 5-6% increase in value.
Mandalay is quickly becoming a key economic hub in Myanmar, drawing attention from both local and international investors. This is evident from the 2.3454% of GDP net inflow of foreign investment in 2023, which often leads to higher property prices as demand grows.
The government is heavily investing in infrastructure to support Mandalay's growth. Projects such as the Yangon-Mandalay railway are enhancing connectivity, making the city more appealing for businesses and residents. This improved infrastructure is a major driver of the real estate market.
Urbanization and migration trends are also fueling the demand for housing. With climate change affecting rural livelihoods, more people are moving to urban areas like Mandalay. The city experienced a 2.02% population growth in its metro area during 2023 and 2024, naturally increasing the need for housing and supporting property appreciation.
Sources: Mordor Intelligence, Research and Markets, Global New Light of Myanmar
2) Urban residential properties in Myanmar currently offer rental yields between 6% and 8% annually
In Myanmar's urban areas, rental yields for residential properties average between 6% and 8% annually.
In Yangon, the bustling heart of Myanmar, Numbeo reported a gross rental yield of about 6.97% in the city center for 2023 and 2024. This figure highlights the performance of the rental market in the city's core. However, if you venture outside the city center, yields can soar, with some areas reporting yields as high as 19.16%, showcasing the diversity in rental opportunities across different urban zones.
These numbers might not directly spell out the 6% to 8% range, but they paint a picture of the rental landscape in urban Myanmar. Investors often find that yields fluctuate but generally stay within a reasonable range, aligning with the 6% to 8% bracket when considering various urban locales.
For those eyeing property investments, it's crucial to understand that the rental market in Myanmar is quite varied. While the city center offers stable returns, exploring other urban areas might reveal even more lucrative opportunities.
Investors should note that the investment climate in Myanmar is dynamic, with potential for both steady and high returns depending on the location. This makes it an intriguing market for those looking to diversify their property portfolios.
Sources: Numbeo Property Prices in Myanmar, Numbeo Property Prices in Yangon, InvestAsian Property Guide
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.
3) Foreign buyers can purchase up to 40% of units in designated Myanmar condominium projects
The Condominium Law of 2016 in Myanmar was a game-changer for the real estate market.
This law allows foreign buyers to own up to 40% of the units in designated condominium projects, a strategic move to attract international investment and boost the economy. By opening its real estate sector to foreign ownership, Myanmar aims to draw in global investors, particularly in high-rise residential buildings. These buildings must be at least six floors high and built on an area larger than 20,000 square feet, ensuring they are substantial enough to accommodate a significant number of units.
However, there are some restrictions. While foreigners can own up to 40% of the units, they are not allowed to manage the condominiums. This means that the day-to-day management and administration must be handled by locals or Myanmar-based entities, ensuring local involvement in the sector.
These regulations ensure that while foreign investment is welcomed, the control and management of these properties remain in local hands. This balance helps maintain a level of local influence and participation in the real estate market, which is crucial for the country's economic stability.
For potential buyers, this means an opportunity to invest in a growing market while respecting local management practices. The law is designed to ensure that foreign investors can participate without overshadowing local stakeholders, maintaining a healthy balance in the market.
Sources: Property.com.mm, Mondaq, Investment Policy Monitor
4) In 2024, a one-bedroom apartment in Yangon rented for $300 to $400 monthly
In 2024, the average monthly rent for a one-bedroom apartment in Yangon was between $300 and $400.
According to the Myanmar Real Estate Services Association (MRESA), rents in downtown Yangon started at about $300, fitting well within this range. This reflects the broader rental market trends in the city.
Yangon's real estate market has been on the rise, fueled by growing interest in off-plan and installment purchases. Urbanization and economic development have also played a role, pushing up demand and, consequently, rental prices.
As rental prices climb, many locals find it hard to afford housing. This has led to more households sharing leased properties to manage costs.
The trend of increasing rents suggests that the $300 to $400 range is a reasonable expectation for a one-bedroom apartment in Yangon. This is a reflection of the city's evolving housing market dynamics.
Sources: Global New Light of Myanmar, Global New Light of Myanmar, Construction & Property
5) About 30% of homes sold in Myanmar in 2024 were under 5 years old
In 2024, about 30% of residential properties sold in Myanmar were less than 5 years old.
This trend is largely due to urbanization and rising disposable incomes, which have fueled a demand for modern housing. Many middle-class families and young professionals are looking for homes that offer better living conditions, making newer properties more appealing.
Moreover, there's a growing interest in tech-smart and energy-efficient homes. Buyers are increasingly drawn to properties that align with sustainability trends, and many of these are newly built to cater to these preferences.
The government's push for infrastructure development has also made a difference. Improved roads and connectivity have made newer constructions in previously less accessible areas more attractive to potential buyers.
In addition, the focus on eco-friendly buildings has resonated with environmentally conscious buyers. New constructions often incorporate green technologies, making them a popular choice for those looking to reduce their carbon footprint.
Sources: Markwide Research, Bangkok Post, Multilaw
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6) Residential property transactions in Myanmar rose by 8% in 2024 compared to 2023
The number of residential property transactions in Myanmar increased by 8% in 2024 compared to 2023.
Myanmar's real estate market is buzzing, thanks to rapid urbanization and rising disposable incomes. People are flocking to cities, and with more money in their pockets, they're eager to invest in property. The government is also playing a part, rolling out policies that make buying property more appealing.
Condo transfers to Myanmar nationals have seen a remarkable surge. In just the first half of 2024, 638 condo units worth 3.24 billion baht were transferred. This number already beats the total for all of 2023, showing just how hot the market is right now.
These trends highlight a growing confidence among buyers. The combination of urban growth, economic factors, and supportive policies is creating a perfect storm for the real estate sector. Buyers are not just looking; they're buying, and in significant numbers.
For anyone considering a property purchase in Myanmar, these statistics are encouraging. The market is not only active but also expanding, offering a range of opportunities for potential buyers. The increase in transactions is a clear sign of a vibrant market.
With the current momentum, Myanmar's property market is set to continue its upward trajectory. The demand is there, and the numbers speak for themselves. It's an exciting time for real estate in the country.
Sources: Amazing Properties, Mordor Intelligence, Multilaw, Bangkok Post
7) In 2024, a two-bedroom apartment in Yangon rented for $500 to $700 monthly
In 2024, the average monthly rent for a two-bedroom apartment in Yangon was between $500 and $700.
Yangon's rental market saw a surge in activity as more people moved into the city, driving up demand for housing. This influx of new residents naturally led to higher competition for available apartments, which in turn pushed rental prices upward.
For those looking at unfurnished options, a two-bedroom apartment could be found for around $200 to $500 per month. However, if you preferred a furnished place, you might have to shell out between $800 and $1,000 or more.
This broad range in rental prices suggests that the average rent for a two-bedroom apartment, whether furnished or unfurnished, would likely settle within the $500 to $700 range.
Sources: Giles D.J., Asia Villas
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.