Authored by the expert who managed and guided the team behind the Myanmar Property Pack
Yes, the analysis of Yangon's property market is included in our pack
Yangon's residential property market has experienced dramatic growth over the past five years, with prices nearly doubling across most segments. As of September 2025, downtown properties average $1,467 per square meter while suburban areas offer more affordable options at around $1,010 per square meter, creating significant opportunities for both investors and homebuyers seeking value in Myanmar's commercial capital.
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.
Yangon's property market shows strong growth with prices doubling since 2020, though affordability challenges persist with price-to-income ratios reaching 16-18x. The market offers rental yields of 4.5-5.5% annually, competitive with regional standards, while future growth is projected at 6-10% annually under baseline scenarios.
Foreign investment has declined since 2019, now representing less than 10% of transactions, as government policies favor local buyers and new infrastructure projects are expected to boost property values by 10-20% in well-connected areas over the next five years.
| Market Metric | Current Status (Sept 2025) | 5-Year Outlook |
|---|---|---|
| Downtown Price/sqm | $1,467 | 6-10% annual growth |
| Suburban Price/sqm | $1,010 | Higher growth potential |
| Rental Yield | 4.5-5.5% | Stable to improving |
| Occupancy Rate | 85-90% residential | Stabilizing |
| Foreign Investment Share | Under 10% | Gradual recovery |
| Price-to-Income Ratio | 16-18x | Moderate improvement |
| New Units (24 months) | 5,000+ expected | Balanced supply growth |
What's the current average price per square meter for residential properties in Yangon?
As of September 2025, residential property prices in Yangon average $1,467 per square meter in downtown areas and $1,010 per square meter in suburban locations.
The downtown Yangon property market commands premium prices at approximately $136 per square foot, reflecting the high demand for central locations with better infrastructure and proximity to business districts. Emerging suburbs offer more affordable options at around $94 per square foot, making them attractive for first-time buyers and investors seeking better value.
Over the past five years, Yangon's residential property prices have nearly doubled across all segments. This dramatic increase represents approximately 100% growth since 2020, with the steepest price jumps occurring in affordable apartment segments and new satellite township projects. Some areas experienced price doubling within just two years, particularly in developments targeting middle-income buyers.
The price surge reflects multiple factors including currency depreciation, economic uncertainty driving real estate as an inflation hedge, and genuine demand growth from Yangon's expanding urban population. Foreign currency-denominated properties have become particularly attractive to local buyers seeking to preserve wealth against Myanmar kyat volatility.
It's something we develop in our Myanmar property pack.
How do property prices differ between downtown Yangon, emerging suburbs, and satellite towns?
Downtown Yangon properties cost approximately 45% more than suburban areas and over 70% higher than satellite towns, creating distinct price tiers across the metropolitan area.
Downtown areas command the highest prices at around $1,467 per square meter, driven by proximity to commercial centers, government offices, and established infrastructure. These locations offer the best connectivity and amenities but represent the most expensive entry point for property buyers.
Emerging suburbs average $1,010 per square meter, positioning them as the middle-market option for buyers seeking modern developments with reasonable access to downtown areas. These locations often feature newer construction standards and planned communities with better infrastructure than older downtown properties.
Satellite towns typically price below $860 per square meter, though individual developments can vary significantly based on developer quality and infrastructure availability. These areas attract budget-conscious buyers and investors targeting rental properties for lower-income tenants.
| Location Type | Price per sqm (USD) | Premium vs Suburbs |
|---|---|---|
| Downtown Yangon | $1,467 | +45% |
| Emerging Suburbs | $1,010 | Baseline |
| Satellite Towns | $860 | -15% |
| Premium Downtown | $1,800+ | +78% |
| Budget Suburbs | $800 | -21% |
| Remote Townships | $600 | -41% |
What's the annual rental yield on average for apartments and houses in Yangon?
Yangon's residential properties generate net rental yields of 4.5-5.5% annually, with smaller and more affordable units typically achieving higher yield percentages.
Compared to regional benchmarks, Yangon's yields remain competitive though slightly lower than some neighboring markets. Bangkok properties typically generate gross yields of 5.5-7%, while Ho Chi Minh City apartments achieve 5-6% gross yields for mainstream properties, with smaller units performing better in both markets.
Premium properties in central Yangon tend toward the lower end of the yield range at 4.5-5%, while affordable apartments and suburban houses can achieve yields approaching 5.5%. The yield differential reflects varying demand patterns across price segments, with middle-income rental demand particularly strong.
Rental yields in Yangon benefit from limited high-quality rental stock and growing urban population, but face headwinds from affordability constraints and economic uncertainty affecting tenant demand. Properties targeting expatriate and higher-income local tenants generally provide more stable rental income despite lower yields.
What is the current occupancy rate for residential and commercial properties in Yangon?
Residential occupancy rates in Yangon currently range from 85-90% for mid-market and affordable apartments, while luxury segments experience lower occupancy levels.
The residential Yangon property market has shown resilience with occupancy rates recovering from 2020 lows as locals increasingly view real estate as an inflation hedge. Mid-market properties maintain the strongest occupancy due to limited quality supply meeting sustained demand from middle-income households.
Commercial property occupancy presents a more challenging picture, hovering around 70-75% for office space compared to pre-2020 levels above 85%. The commercial real estate market continues adjusting to changed business conditions and reduced foreign company presence.
Since 2020, both residential and commercial sectors have experienced significant volatility, with partial recovery in residential markets driven by local demand while commercial space faces ongoing headwinds from reduced business activity and remote work adoption.
Don't lose money on your property in Yangon
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.
How many new residential units are expected to be completed in Yangon over the next 12 to 24 months?
Over 5,000 new residential units are forecast to be completed in Yangon over the next 12-24 months, representing a moderate increase from recent completion rates.
The past two years saw completions averaging around 3,500 units annually, making the upcoming supply pipeline approximately 40% larger than recent historical averages. This increase reflects projects that began development during more optimistic market conditions now reaching completion.
Most new completions concentrate in suburban and satellite town developments, with fewer units coming online in premium downtown locations. The pipeline includes a mix of affordable apartments, mid-market condominiums, and some luxury developments, though affordable segment projects dominate the upcoming supply.
Developer completion schedules face potential delays due to construction financing challenges and material cost inflation, meaning actual delivery may spread across a longer timeframe than originally projected.
What's the current demand-to-supply ratio for residential units in Yangon?
Demand has generally kept pace with new supply in Yangon's residential market, though early signs of oversupply risk are emerging in luxury condominiums while affordable and suburban properties remain undersupplied.
The luxury condo segment shows the most concerning supply-demand imbalance, with high-end projects struggling to achieve sales targets and extended marketing periods becoming common. Buyers in this segment have become more selective amid economic uncertainty and reduced foreign participation.
Affordable housing segments continue experiencing undersupply relative to demand, driven by Yangon's growing urban population and limited quality developments in lower price ranges. Middle-income apartment demand particularly exceeds current supply levels.
Most analysts expect demand to track or slightly lag new supply over the next year, barring further economic shocks. The market appears to be finding a new equilibrium after years of rapid growth, with demand patterns shifting toward more affordable segments.
It's something we develop in our Myanmar property pack.
How have mortgage interest rates and loan approval volumes evolved in Myanmar?
Mortgage interest rates in Myanmar have increased significantly from around 12% to 15% over the past three years, while loan approval volumes have declined by 25-30%.
The rising interest rate environment reflects broader economic challenges including currency instability and banking sector constraints. Lenders have become increasingly cautious about real estate lending, implementing stricter approval criteria and requiring higher down payments from borrowers.
Loan approval volumes have contracted substantially due to both supply-side factors (stricter lending standards) and demand-side impacts (reduced affordability at higher rates). Many banks now require 30-40% down payments compared to 20-25% previously, further limiting access to mortgage financing.
The financing constraints have pushed many property buyers toward cash transactions, changing market dynamics and potentially limiting the pool of potential purchasers. This shift particularly affects middle-income buyers who previously relied on mortgage financing to access property ownership.
Currency risk concerns have made banks reluctant to extend long-term kyat-denominated loans, while foreign currency mortgages remain extremely limited and typically available only to high-net-worth borrowers with foreign income sources.
What is the median household income in Yangon compared to median property prices?
The median household income in Yangon is approximately $6,000 annually, while median property prices reach around $100,000 for a 60-square-meter city-center condominium.
This creates a price-to-income ratio of 16-18 times, placing Yangon among the least affordable housing markets in ASEAN. The affordability challenge has worsened significantly as property prices doubled while household incomes failed to keep pace with real estate inflation.
For comparison, most developed markets consider ratios above 5-6 times as severely unaffordable, while emerging markets typically see ratios of 8-12 times in major cities. Yangon's ratio reflects both rapid property price appreciation and relatively low local income levels.
The affordability crisis has shifted demand patterns toward smaller units, suburban locations, and extended family purchase arrangements. Many buyers now require family financial support or foreign income sources to access property ownership in central Yangon.
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.
How many foreign investors are active in the Yangon property market today?
Foreign buyers currently represent under 10% of property transactions in Yangon, marking a significant decline from pre-2019 levels when they comprised 15-20% of sales in some new condominium projects.
The reduction in foreign investment reflects multiple factors including political uncertainty, currency risks, regulatory restrictions, and broader economic challenges facing Myanmar. Many foreign investors have adopted a wait-and-see approach or redirected capital to more stable regional markets.
Current foreign buyers primarily include Myanmar diaspora purchasing properties for family use or long-term investment, regional investors seeking opportunistic purchases at attractive valuations, and a limited number of expatriate residents buying for personal use.
The foreign investment decline has reduced price pressure in luxury segments but also eliminated a significant source of development financing and market liquidity. Some developers specifically designed projects for foreign buyers now face marketing challenges and revised sales strategies.
What is the government's latest policy stance on property ownership and foreign investment?
Myanmar's government maintains restrictions allowing foreigners to legally own up to 40% of units in any condominium project, while land and house ownership remain prohibited for non-citizens.
Recent policies increasingly favor local buyers through measures designed to curb speculation and stabilize property prices for domestic purchasers. The government has shown limited interest in relaxing foreign ownership restrictions, instead prioritizing local housing affordability concerns.
Land use rules are strictly enforced with comprehensive regulations governing development approvals and construction standards. Foreign direct investment incentives focus primarily on industrial and logistics projects rather than pure residential development, reflecting economic policy priorities.
Property transfer taxes and registration fees have been adjusted to generate government revenue while potentially moderating speculative activity. The regulatory environment emphasizes transparency in transactions and proper documentation of ownership structures.
It's something we develop in our Myanmar property pack.
What's the trend in infrastructure projects around Yangon?
Major infrastructure upgrades are underway in transit, roads, and utilities systems, particularly in Yangon's urban outskirts and connecting corridors to satellite developments.
Transportation infrastructure improvements include road widening projects, bridge construction, and public transit system enhancements designed to improve connectivity between downtown areas and emerging residential zones. These projects aim to reduce commute times and make suburban living more attractive.
Utility infrastructure development focuses on reliable electricity supply, water distribution systems, and telecommunications networks in newly developed areas. Many suburban and satellite town projects now feature modern infrastructure standards comparable to or exceeding downtown areas.
The next five years are expected to see property value uplift of 10-20% in well-serviced corridors as infrastructure improvements enhance accessibility and livability. Areas with confirmed infrastructure development typically experience property price appreciation ahead of project completion as buyers anticipate improved connectivity.
Port and logistics infrastructure development around Yangon supports broader economic development but has mixed impacts on residential property values, with some areas benefiting from economic activity while others face industrial encroachment concerns.
What's the forecasted annual growth rate of property prices in Yangon for the next three to five years?
Property price growth in Yangon is forecasted at 6-10% annually under baseline scenarios, with most analysts citing continued moderate appreciation driven by fundamental demand and controlled supply growth.
Optimistic scenarios project growth rates reaching 12% or higher annually, assuming stable macroeconomic conditions, successful political and economic reforms, and renewed foreign investment interest. These scenarios depend on significant improvements in business confidence and regulatory clarity.
Pessimistic projections suggest flat or negative growth if political instability worsens or financial system constraints intensify. These scenarios could emerge from currency devaluation, banking sector problems, or external economic shocks affecting Myanmar's economy.
The most commonly cited outlook anticipates continued moderate growth with outperformance in affordable and suburban segments compared to luxury downtown properties. This reflects demand shifting toward more accessible price points and locations with better value propositions.
| Scenario | Annual Growth Rate | Key Assumptions |
|---|---|---|
| Optimistic | 12%+ | Stable politics, reform progress |
| Baseline | 6-10% | Moderate stability, gradual improvement |
| Pessimistic | 0% or negative | Continued instability, economic decline |
| Suburban Outperformance | 8-12% | Infrastructure development, affordability |
| Luxury Underperformance | 2-5% | Limited demand, oversupply risk |
| Foreign Re-entry | 10-15% | Policy liberalization, confidence return |
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.
Yangon's property market presents both significant opportunities and considerable risks for potential buyers and investors.
The dramatic price growth over the past five years has created wealth for early investors but raised serious affordability concerns, while current market conditions offer more realistic entry points for those with proper market knowledge and risk tolerance.
Sources
- Yangon Price Forecasts - BambooRoutes
- Myanmar Price Forecasts - BambooRoutes
- Global Property Guide - Thailand Rental Yields
- Mordor Intelligence - Myanmar Residential Real Estate Market
- Technavio - Myanmar Residential Real Estate Analysis
- Global Property Guide - Myanmar Square Meter Prices
- iMyanmarHouse - Price Index
- Radio Free Asia - Yangon Real Estate Prices