May 30, 2013

Real Estate booms in Pyin Oo Lwin

The real estate market is booming in Pyin Oo Lwin, a mountain town located in Mandalay Region.
"2011 was the best business for real estate market. Buyers paid the price what the seller asked for.
The business is up again during this year. However it doesn’t meet the 2011 sales. The deals have been made by negotiating between sellers and buyers this year," realtor Adine from Shwe Wadi Real Estate said.

Lease and rent are most occurred in town and buy and sell are made in new wards of the town. The east side of the town is in more demand than the west.

The hotel investors are seeking lands for to run business in town but leasing are in demand now.
A 30 ft X 40 ft lot in Padaythar ward will cost at least 10 million kyats. However, the price can vary based on the location. The value of land close to Market is now over price. The rent fee could be at least 50,000 to more than 500,000 kyats per unit upon space.

Source: Eleven Weekly Media