Myanmar: Apartment rental fees lower due to sluggish demands

Yangon’s real estate rental market sees lower rental fees as landlords lower their rental fees due to lower demands. 

“There are some activities. But rental fees are lower,” an official from Myanmar Real Estate Services Association, told Myanmar Business Today.

Transactions in the real estate sector almost stopped during the lockdown. Landlords also reduced the rental fees for their tenants when they sign a rental agreement to extend the rental period. 

The lower rental rates can differ based on the locations and apartments quoted around K25 million are now around K22 million. 

The market is slowly picking up since the end of May when the pandemic curve seemed to start flattening.