PRICE WATCH Myanmar Property Hits The Roof
Investors are closely looking at property prices in Myanmar with a mix of interest and amazement.
Too far, too fast is often expressed in a market which has seen office rentals in Yangon skyrocket to over USD150 per square meter, or nearly tripling in a year.
Land prices for vacant CBD property in the city are moving up past USD4,000 a square meter, while the ownership tenure remains a question mark.
While there has been a rush to develop existing historical properties demands from local owners of huge amounts of key money and significant partnership stakes is running rampant.
The crux of the current issue is can developers afford to be in the market or can they not afford to be there given high demand? Time will tell.