Authored by the expert who managed and guided the team behind the Burma (Myanmar) Property Pack
Yes, the analysis of Yangon's property market is included in our pack
What do the latest numbers reveal about Yangon’s real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods 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 Yangon, 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) Pet-friendly residential properties in Yangon rented for 8% higher prices in 2024
In 2024, residential properties in Yangon marketed as "pet-friendly" saw rental prices increase by 8%.
Yangon has been experiencing a surge in population, with many newcomers, including migrant workers bringing their pets. This influx has driven up the demand for pet-friendly accommodations, making them more attractive to renters.
Short-term rentals that welcome pets are also gaining popularity, especially in areas like Bahan Township, which offers several pet-friendly options. This trend reflects a broader interest in pet-friendly living spaces, contributing to the rise in rental prices.
As more people seek out these accommodations, landlords are recognizing the value of marketing their properties as pet-friendly. This shift is not just a trend but a response to the growing number of pet owners in the city.
For potential property buyers, investing in pet-friendly rentals could be a smart move, given the increasing demand and higher rental returns. The market is clearly responding to the needs of pet owners, making these properties a lucrative option.
Sources: PetFriendly.io, Casai.com
2) Yangon’s residential property prices rose by 4-6% in 2024 due to urbanization
In 2024, residential property prices in Yangon increased by 4-6%, driven by urbanization.
Yangon is becoming a magnet for people seeking job opportunities, which has naturally boosted the demand for housing. This influx of new residents has led to more active buying and renting activities, pushing property prices higher.
Even during typically slow periods, like the early Buddhist Lent, the real estate market in Yangon remained vibrant. The continuous flow of people into the city has kept rental prices on the rise, making it tougher to find monthly rental properties.
There's a growing interest in off-plan and installment purchases, which has further fueled the market. This trend indicates that buyers are looking for flexible payment options to secure their investments in the city's real estate.
Yangon's appeal isn't just about jobs; it's also about lifestyle. The city's evolving infrastructure and amenities are making it a more attractive place to live, which in turn drives up property values.
As urbanization continues, the real estate market in Yangon is expected to remain dynamic, with property prices reflecting the city's growth.
Sources: Global New Light of Myanmar, Mordor Intelligence
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) Over 50% of Yangon’s homes are over 20 years old
In Yangon, more than 50% of residential properties are over 20 years old.
According to the 2014 Myanmar Population and Housing Census, 64.5% of households in Yangon Region own their homes, which is notably lower than the national average of 85.5%. This indicates that while many people in Yangon live in homes they own, these properties could be a mix of both older and newer structures.
The census didn't specify the exact age of these homes, but the high ownership rate suggests that a significant portion of the housing stock might be older. Owned homes are often passed down through generations, which can naturally increase the age of the properties.
In Yangon, the tradition of passing down homes means that many properties have been in families for decades. This cultural practice contributes to the aging housing stock, as newer generations inherit homes rather than purchasing new ones.
Additionally, the urban landscape of Yangon is characterized by a blend of colonial-era buildings and modern developments. This mix further supports the idea that a large number of homes are over 20 years old, as the city has a rich architectural history.
Sources: UNFPA Myanmar, ReliefWeb
4) Property taxes for homes in Yangon are about 0.5% of the property’s value annually
In Myanmar, property taxes are based on the property's annual valuation or projected gross rent if leased unfurnished.
For properties valued between 1 MMK and 50,000,000 MMK, the tax rate is 3%. As the property value increases, so does the tax rate, with properties valued above 300,000,000 MMK being taxed at 30%. This progressive system ensures that higher-value properties contribute more in taxes.
In major cities like Yangon, there's an additional cost when buying or selling property. Stamp duties are set at 5% of the property's value, separate from the property tax. This means if you're purchasing a home, you'll need to budget for this extra expense.
Interestingly, property taxes for residential properties in Yangon account for approximately 0.5% of the property’s value annually. This is relatively low compared to other regions, making Yangon an attractive option for potential buyers.
Understanding these costs is crucial for anyone considering a property purchase in Myanmar. The combination of property taxes and stamp duties can significantly impact your overall investment.
So, if you're eyeing a property in Yangon, remember these figures. They play a vital role in your financial planning and decision-making process.
Sources: Retalk Asia, Multilaw, PwC Tax Summaries, Chandrawat Partners
5) The average down payment for a home in Yangon is 30% of the purchase price
In Yangon, the average down payment for a residential property is 30% of the purchase price.
This requirement is standard among major banks like Yoma Bank and CB Bank, which offer home loans that demand a 30% down payment for properties such as condos, apartments, and landed houses. This isn't just a policy of a few banks; it's a widespread practice across the city's housing market.
Yangon's high land prices and strict mortgage requirements have made this 30% down payment a norm. These financial conditions are a significant factor in shaping the local real estate landscape, making it challenging for many to secure home loans.
For low-income families, the situation is even tougher. The combination of expensive land and limited affordable housing options creates a barrier to entering the formal housing market. This has led to notable housing inequality issues in Yangon.
Many potential homeowners find the upfront costs prohibitive, which exacerbates the divide between those who can afford to buy property and those who cannot. The financial burden of the down payment is a significant hurdle for many.
In essence, the 30% down payment requirement reflects broader economic challenges in Yangon, where affordability remains a critical issue for many residents.
Sources: Tea Circle Myanmar, Yoma Bank, CB Bank
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6) Mid-range apartments in Yangon have an average occupancy rate of 85%
In Yangon, the average occupancy rate for mid-range apartments is 85%.
Back in 2020, when many markets were struggling, Yangon managed to keep its serviced apartment occupancy rate at around 72% during the third quarter. This resilience was notable, especially during the COVID-19 pandemic.
Mid-range apartments have shown strong potential due to their limited stock and ability to maintain high occupancy levels. This makes them a reliable investment option for those considering property in the city.
As foreign arrivals picked up again in 2024, the demand for these apartments likely increased, further boosting their occupancy rates. This trend highlights the growing appeal of mid-range apartments in Yangon.
For potential buyers, this means that investing in mid-range apartments could be a smart move, given their consistent demand and limited availability.
Sources: Mingalar Real Estate Conversation, Serviced Apartment News
7) Yangon's residential properties offer a rental yield of about 7%, among the highest in Southeast Asia
In Yangon, the average rental yield for residential properties is around 7%, one of the highest in Southeast Asia.
This means if you buy a property there, you can expect a strong return on investment. Simply put, renting out your property could earn you a good income compared to its purchase price.
One reason for this attractive yield is the growing demand for rental properties in Yangon. As the city expands, more people are moving in for work and opportunities, pushing up the need for housing.
Urbanization and economic development are key drivers here. As Yangon becomes a bustling hub, the increased demand for housing naturally leads to higher rental prices.
For investors, this scenario is promising. The combination of a booming city and high rental yields makes Yangon a compelling choice for property investment.
Sources: Mordor Intelligence
8) Demand for compact apartments in Yangon increased by 7% in 2024
The demand for compact apartments in Yangon grew by 7% in 2024.
Yangon is bustling with newcomers, including migrants and those displaced by civil unrest, which has boosted the need for housing. This influx is a major driver behind the rising demand for apartments in the city.
The real estate scene in Yangon is buzzing with activity. More people are buying and renting, and there's a noticeable trend of purchasing apartments through off-plan and installment systems. This shows a dynamic market where compact apartments are in demand.
Apartment prices are climbing in various townships, reflecting a strong overall demand for housing. Compact apartments are particularly appealing as they offer a more affordable option for many residents.
Yangon's population has surged, now representing a significant chunk of the country's total population. This urban growth naturally leads to increased demand for housing, including compact apartments.
Sources: Global New Light of Myanmar, Radio Free Asia
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.
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