The detail of the real estate related news

Decreasing of Contract Apartment Business

Myanmar real estate news Construction employers said Contract apartments market have obviously lower down.

“At present, contract apartments market is obviously quiet, which sell by Cash down system. And by selling with an installment system from private banks then only market place will be in good situation,” said U Yan Aung, general manager of Asia Construction.

The market of apartment for sale is being quiet. As the real estate market place is down, the majority of the people are buyers, to live in the apartment rather than to investment them and the market place of apartment for sale is also down, he added.

Moreover, the apartments which buying in cash down installment system are obviously less purchase, because of low cost housing which sell by the government.

“Because of much sale in the low-cost housing of the government with long-term installment system, the market place of private construction apartments which purchase with cash down were obviously being quiet,” he said.

Although bank rate is still high for the instalment housing of government, which began from paying the money with installment and they get permit to live in the apartment, therefore the property rental are purchased only the installment government housing, said Director U Aung Min, Myat Min Construction.