The rental market on the outskirts of Yangon's metropolitan area will improve in 2017 (real estate service providers in the region)

The real estate mar­ket on the outskirts of Yangon’s metro­politan area will improve in 2017, real estate service providers in the region have said.

The prediction comes amid pessimism over for­eign investment in the condo market.

U Charlie, an executive member of the Myanmar Real Estate Service As­sociation, said the real estate trade in Thanlyin. southeast of the down­town area, had the poten­tial to attract a lot of for­eign investment thanks to the Thilawa Special Eco­nomic Zone and Star City project located there.

U Charlie blamed unsta­ble and unclear govern­ment policy for causing hesitancy among real es­tate providers and inves­tors, adding that the gov­ernment should provide protection for foreign in­vestors to attract capital to the condo market.

“The regional govern­ment is planning to ex­tend satellite town pro­jects in Dala, Kawmhu and Khum Chan Gone, so the real estate trade will do well here,” said U My­int Sein, joint secretary of Myanmar Real Estate Service Association.

He added that it was im­portant for authorities to provide both incentives and legal protections for foreign investors.

Reference : (Myanmar Business Today: http://www.mmbiztoday.com/articles/real-estate-industry-group-sees-market-improving-yangon-s-outskirts-2017)

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