Pyin Oo Lwin property market demands have been rising since April 2018 and are expected to rise till the end of the year

Demand for property in Pyin Oo Lwin, formerly known as Maymyo, in Mandalay, has been on the rise of late.

Property sales in the former colonial hill station has picked up since April, according to real estate agent Daw Khin Saw Myint. “Prices have fallen compared to before and we are seeing more buyer interest in Pyin Oo Lwin. We think sales could continue until the end of the year,” she said.

According to Daw Khin Saw Myint, properties previously worth K150 million have fallen by as much as 20 percent. Meanwhile, road conditions have improved and the population of Pyin Oo Lwin has also improved.

“Now, the Padaythar New City in Pyin Oo Lwin is becoming more popular and lively. Even the designs of the houses are looking more attractive. People are interested in 40ftx60ft and 60ftx80ft properties near the market and highway terminal which are worth around K120 million,” she said.

Daw Khin Than from Kaung Hein Sat Real Estate Agency in Pyin Oo Lwin said if tax rates and stamp duties for real estate are reduced from the current level, sales transactions could continue to increase.

“The market can get better. For example, some people are inquiring about moving their parents from regions prone to floods to Pyin Oo Lwin. Land and property in Pyin Oo Lwin is becoming more valuable and buyers should think about investing,” she said.

(The Myanmar Times:  https://www.mmtimes.com/news/pyin-oo-lwin-property-market-sees-pick.html )

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