As reported by the Global New Light of Myanmar, the real estate sector is still bullish about its growth perspectives – despite a falling rental price per square foot in the economic capital (see last week’s highlights).
According to DICA (Directorate of Investments and Company Administration) statistics, for the first month of the current fiscal year, the real estate sector recorded a total FDI inflow of over USD 270 million. Much of the FDI is coming from Hong-Kong listed Amata Company in the development and operation of Smart and Eco City on 2,000 acres of land near East and South Dagon. The rest stems from smaller investments from 8 other enterprises.
Realtors are betting on different factors to be optimistic for the future of the sector. After the 2017 Condominium Law, this year’s reduced income tax incentive is supposed to stimulate the realty market in the short term. They also anticipate the approval of a real-estate service law to regulate informal deals, the easier access to house loans and growing middle class to sustain mid and long term growth.