Quarterly Business Magazine

Bahan and Kamaryut Townships Preferred Residential Areas in Yangon for Foreigners

Posted :
Sunday, September 28, 2014

Yangon - According to surveys by House.com, more and more foreigners residing in Yangon are choosing to stay in Bahan and Kamaryut townships.

These two townships are the favorites for foreigners while some others want to stay in Mayangone Township and downtown areas, the surveys show.

“Foreigners like Bahan and they are always asking about it. Only if there is no availability there will they ask for other options. Dagon, Kamaryut, and Mayangone townships are also popular too,” said Ma Sandar, manager of a local real estate agency.

Foreigners usually spend from US$ 400 up to US$ 1,500 for rent.

“Foreigners like places that are ready to move in with furniture and everything installed. They want to bring with them only their clothes. Sometimes if they really like the place, they won’t mind paying a few extra to get the landlord move out right away,” said the owner of Malikhu Real Estate Agency.

Most foreigners want to buy and stay in condo apartments, but they cannot at the moment since a clear Condo Law has not been passed in the government.

For foreigners living in Yangon, language and communications channels such as mobile phone and internet are the biggest difficulties, according to Mr. Bennett, a public relations consultant at a local employment website.

Since the cost of staying long-term in hotels is too high for foreign investors, more and more of them are choosing to rent in downtown Yangon instead. Most of them come from the United States, according to the Ministry of Hotels and Tourism.

In 2012, only over 1 million tourists entered Myanmar. Last year, the figure rose to 2.04 million. By the end of August this year, 1.8 million foreigners have arrived, and the Ministry has predicted that total tourist arrival will reach 3 million in 2014.

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