Invest in Myanmar Property Wisely
The property market in Asia along with Middle East and Latin America is currently flourishing. In Asia, Myanmar has become one of the leading places where investors are ready to invest because of various reasons. However, when planning to invest in Myanmar real estate one must know the following:
· Today, trade in Myanmar has strengthened and economic sanctions that were imposed by the United States and European Union have been lifted. This has led to entry of foreign investors who have contributed to the increasing real estate demand in Myanmar.
· It is important to be aware about the policies that are there for foreign investors. Earlier foreigners were not permitted to purchase land and condominiums in Myanmar; however, they could use the land through a lease agreement. The recently passed Condominium Law states that a foreigner too can invest in Myanmar property.
· Yangon real estate is top on the list when it comes to investing in Myanmar.
· If one chooses to invest wisely, the opportunities are many in the retail, industrial and hospitality sectors. So, one can think of investing in hotels and apartments.
· Check which places are considered as underdeveloped and which are developed. A recent law issued by the government states that one can get better lease terms if investing in an economically underdeveloped area.
· The demand for investing in Myanmar real estate is not only coming from the foreign investors but also from the locals. This is because of impressive growth in sectors, such as telecommunication, oil and gas, manufacturing and tourism industry.
· The locals who are interested in investing in Myanmar property can contact the real estate agents as there are many lucrative offers and benefits available.
· Moreover, the government has asked the construction companies to develop low cost homes in order to meet the rising demands of the clients. Thus, one should think of investing in Myanmar today.
Look for a trusted real estate agent who can assist with each and everything related to the Myanmar properties.