Housing market booming in Mandalay, Myanmar
Yangon, 31.01.2024.
The housing market in Mandalay, Myanmar is experiencing a significant boom, primarily driven by the increasing number of high-rise apartments. The expansion of condominium buildings and the growth of the building contract market are key factors contributing to this trend.
Apartments have become more popular than private houses, as stated by a real estate business owner in Mandalay. Notably, apartments are being constructed not only in central locations but also in areas that are further away from the main roads. This has led to a shift in preference, with people living in private houses now opting to move into apartments. It is worth mentioning that while the rental market was predominant in the past, the buying market has now gained momentum.
Mandalay is the second largest city and the former capital of Myanmar kingdom which is situated strategically at the middle of country surrounded by battlefields of the renewed civil war. Recent increase in Mandalay housing market is driven by the Internally Displaced People from neighbouring conflict area.
Mandalay is the second largest city in Myanmar and former capital of Myanmar kings which is located strategically in the middle of country and surrounded by battlefields. The
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