The detail of the real estate related news

Government housing price are looking for ways to sell in installment system

Myanmar real estate news “We are looking for methods to sell government housing without interest rates,” said U Kyaw Lin, Construction Ministry Urban and Housing Development Department on May 15.

“The current market have been a double value of room if calculated the interest rates. In order to reduce the price, methods were looking which could get with installment system according to the price,” he said

The housing sector of Urban and housing development department have to construct one million housing, the total housing 10,924 rooms within one year, 5,748 rooms is 100 percent and 5,176 is 70 percent have completed.

About operating
During within three years total 8,000 rooms will be completed and 4,000 rooms from department by PPP system. 6,000 rooms from the companies so the total 10,000 rooms have completed, reported. Moreover rental housing, government service housing, low cost housings were also on process aiming for the coming 2020 year.

About installment
At present, urban and housing development department’s construction and housing development by Bank loans used 15 years installment system and sell the property with 10.5 interest rates.