Myanmar real estate news

Background check for Yangon low-cost housing lottery winners


Myanmar real estate news Lucky winners in a lottery for renting low-cost apartments in Yangon will have to undergo a background check before they are allowed to move in, officials said.

More than 35,000 people applied for 1152 units in the Mahabandoola project, Yangon’s newest public housing development in South Dagon township.

To ensure the units were allocated as fairly as possible, applicants were picked at random. The same system has been deployed for affordable housing projects in the past, but was flawed as property speculators also threw their bids into the mix.

This time, regional government officials will spend around two weeks reviewing winning applications to make sure they are valid. Nobody who owns property elsewhere will be allowed to rent an apartment in the Mahabandoola complex, so checks are required, they said. The lots were drawn in public at Myanmar Event Park in Yangon.

“We now have to review the winning applications before we announce the confirmed winners in about two weeks,” said U Kyaw Soe, regional minister for forestry and energy, who was assigned to this task.

Applicants were asked to sign a statement affirming that they own no other property. Any tenant who fails to pay the rent on time, or who breaches the conditions of residence, may face eviction. In order to allow for possible disqualifications a total of 1400 winners were selected. Tenants of the 570-square-foot homes will pay K30,000 a month in rent at the project, which is located on the Yangon-Mandalay No 2 Highway in South Dagon township. Of the 1200 apartments, 48 have already been allocated to former residents who were forced from their homes to make way for the development.

“We made this arrangement with those families at the beginning of the project to protect against the possibility of squatting,” said U Kyaw Soe.

The final list of winners will be announced at township general administration offices and the offices of the Urban and Housing Development Department, as well as through the media, he said. The winners are expected to make contact with the housing department prior to moving in and paying rent and will not be allow to sublet units. –

Translation by Emoon




Quoted from mmtimes.