Myanmar real estate news

Evidently Decreased of Land for rent which Owned by Myanmar government

Myanmar real estate news The rental rates of Land properties and building construction of Government are decreased in Yangon region which mentioned in budget year 2015-2016, found in Public budget Committee.

When selecting company to build Public people parks, they selected not by Tinda auction system but decision made from committee meeting. The current rental price of property in the parks is less than current markets price. And according to public budget account committee found weakness that not following according to the contract and agreement.

“How less rental price as it is seen that 0.36 Acre rent get only 208 lakhs in a month. The period of renting is within 25 years from 2030-40 till. The current rental price 1 sqaure Feet is 1000 Kyats in 2015-2016.It have above 3000 in Dagon township. The real price is only getting 0.88 Kyats and not even a kyat,” said Hlut daw ko sa le U Kyaw Ze Yah.

Moreover, People’s budget committee did not rent direct to Kandaw gyi, Myaing Hey Won, ShweBe Restaurants and Happy World player ground which is located in Kandaw Mingalar parks were rent from Women and Child Care Association and it is found one square feet for one month rent is only 12.54 kyats.