In Mandalay, a commercial city of Myanmar, condominium rental market has begun developing and shop rental has also increased at the same time, according to Mandalay-based property agencies.
“There are potential buyers. Mandalay is our main market. People from other towns such as Lashio and Muse recently moved here and they are interested in rented land and condo. In Mandalay, Manawhari is the major commercial area and buyers rent lands mostly there, they also like the area to open shops,” said an official from Khin Myanmar Real Estate and Property.
Land rental has surged in Manawhari since this summer and potential buyers have searched and observed condo rooms to buy and rent.
“Condo rental price ranges from K1.2million to above K3million. Condos are located in different areas, do you want to choose on the outskirts Tagondine, or near Zaycho or in downtown or in Myothit,” she said.
There are shops and shopping centres in Manawharim, therefore it is preferred by those who want to rent shops.
“Price is the highest in Manawhari. Rental price for a 50’60’ft shop is K5-6million and RC shop is priced about K6million,” said an estate agent.
Thit Taw/ZS
