Mandalay property market recently cool with renting only

The market for rented apartments located in Chanayethazan Township in Mandalay. Photo : Supplied
The market for rented apartments located in Chanayethazan Township in Mandalay. Photo : Supplied

Although the government has changed the property tax rate, the property market is still cool in the city and suburban areas in Mandalay Region.
However, the rental market for apartments located in Chanayethazan Township and Yadanarbon market is slightly rise as more and more shops and showrooms are being opened these days.
Most of the shop owners are renting some apartments, and houses which are located on 73rd Street between 26th and 35th streets as well as on the 78th street between 26th and 38th streets in Chanayethatzan Township to open mobile shops, online stores, motorcycle showrooms and auto accessories shops.
The rental for a 20×40 foot room is around K1 million per month while for the whole house it is over K2 million per month, according to real estate agents.
The rents rose to around K500,000 for a home on 55 street between Manawhari and Mingyi Yan Naung Streets. Those families who came from other states and regions rent the homes in some wards of Chamyathazi Township located in the suburb of Mandalay.
Meanwhile, The house rents for the ground floor are around K300,000 per month, and the house rent market is active in the low-cost and affordable housing estates in Chanmyathazi Township.
The house rents for the fourth floor are K100,000 per month and only those small families rent such apartments. The rents for boarding rooms have also increased near Mandalay University.—Maung Pyithu (Mandalay) (Translated by Hay Mar)

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