Myanmar real estate news

Almost Five Million House, Apartment would be needed in Myanmar, 2040 year

Myanmar real estate news Residential Apartments 4.8 million and only in Commercial City, Yangon about 1 million houses and apartments will need by measuring the whole city population which would be increasing in the year of 2040,” said a responsive person from Ministry of Construction Department.

Those residential houses and apartments would be needed in the future 2040 year according to the increasing of population rates during in the past 30 years from 1983 year to 2014 year, said U New Hmoo, Vice Director of Housing development Department, Ministry of Construction Department.

Although according to census nations population stated over 35 million in the past 1983 year, over 51million increased in the year of 2014. If it is increasing again according to those population rates, the population rates will be over 70 million at 2040.

At present, the total building is over 1.5 million and the total housing apartment over 1 million would be needed in Yangon and 20 percent of the necessary of those housing will be help Ministry of Construction department, Civil and housing development department according to the census in 2014, he added.