Myanmar real estate news

Decreasing Half of Construction Building in Yangon City.

Myanmar real estate news “Yangon City Development Affair Committee Engineering gave permission to build construction in the boundary of Development affair and due to the list of present budget, construction permits had decreased over half building construction,” said by responsive people from that Department.

In the last 2015-2016 year, construction permits is over 6,000 and in the year of 2016-2017, it got about 3,000.

“In this year, Construction permits have approximately 3,000. Because of less building construction, it became decreased too,” said by U Than Htey, Engineering Department.

“Due to the list of Engineering Department of present budget, high-rise building were permitted 829 building, 847 low-rise building that is up to fourth floor and 724 low-rise building which is up to three and half floor are permitted to build till the month of December,” said by responsive people of that department.

Since the number of high-rise building which permitted by department have 2,915 building in the last budget and half of high-rise building became slumped condition. In the last 2015-16 budget, Low-rise building is also permitted up to 1597 building, 1,289 building in the illegal contract.

Therefore, comparing this year and last year budget, low-rise and high-rise building of all construction were found becoming slumped at half.