Real estate agents in the Burmese capital are enthused that the long neglected market for houses in Naypyitaw is finally showing signs of a boom.
“There is a big movement in the real estate market on the left side of Yarza Htarni Road between Pyinmana and Poppa Thiri townships, which are both popular residential neighbourhoods,” said Win Naing from Hnin Htet Naing Real Estate Agents in the capital, adding that buyers are generally moving to live in Naypyitaw rather than investing.
“A 40 x 60 square feet estate on Yarza Htarni Road now costs 200 million kyat [US $230,000]. Not so long ago, that same plot would have cost just 40 million kyat [$45,000],” said Aye Aye Thein, a resident on the Yarza Htarni Road.
She said that popular areas now include estates in Zabu Thiri Township, around Thapyae Gone, near the Gem Museum, Dekhina Thiri Township, areas along the Yangon-Mandalay highway, and downtown areas A Road, B Road, E Road and G Road.
Related article: http://www.mizzima.com/business/8226-real-estate-tax-tries-to-stem-rising-land-prices.html
