Myanmar Real Estate marke and its future
You know celebrities in hollywood are buying luxury houses in LA. But if you don’t know Myanmar, you never know how much a house cost in Yangon, Myanmar. Yangon is now the main business city in Myanmar. Lots of international companies are entering to invest and expand. If you don’t know Yangon, you will not know the price of Yangon real estate market.
Yangon real estate price is higher than other main cities in south east Asia countries such as philippine, Lao, Malaysia, Thailand, India and many others. The hottest housing project in Yangon today is Golden City. Golden City is selling rooms and apartment which cost you over 600000 USD. It exist near Shwedagon pagoda, the landmark of Myanmar.
For international companies, finding a good space for office always has been a problem. It cost you at least 3000 USD per month to rent a decent office space which can get about 40 seats for employees. Hledan Center and Sakura Tower have been recognized as the most expensive building for office settling. They will cost you over 6000 USD per month. You will usually have to make at least a one year contract with them to rent the space. A new born place for IT companies, MICTPark is offering office space. But they are not cheap too.
Don’t worry. You can still find the cheap apartments in Myanmar to set as an office. The space which can have 10 employees cost you about 500 USD per month. It’s cheap because they are not supposed to be office. They are supposedto be an apartment to live. You will usually have to decorate and make it proper to become like an office. At least have over 20,000 USD as an apartment rending cost, a part of a fixed cost, for your startup in Myanmar. It’s just my personal suggestion. I dont’ know if you can find the cheaper office space. You can browse at iMyammarhouse, a local online real estate market.
Thinking co-working space would be a solution? It’s actually much expensive than a small room in Yangon. ☺