As investment opportunities in most countries decline, there is need to diversify your money in order to enjoy better ROI. Real estate remains a foolproof investment option even after the housing bubble in 2007/2008. Most property markets are seeing great injection of cash by international buyers. From Toronto, Vancouver to Singapore, there are many markets where you can put your money.
However, Myanmar has now emerged as the next go-to property market for foreign investors. There are great opportunities for anyone who puts money in property Yangon investments. If you are looking for a safe investment in real estate, Yangon provides a fresh allure that is too great to ignore. Since 2012, the government has initiated reforms to guide the industry, which means investors are assured of returns on their investments.
Here are some of the main factors to know before putting your money in the real estate Yangon market.
1. A Ripe Market to Harvest
While the property market slowed a bit in 2015, it is understandable that investors were wary about the political transition that was expected with the elections in November. However, the peaceful transition has given a boost to the property market and new construction and higher volumes of transactions are being witnessed. The property market has also received a major boost with more tourists arriving since 2013. Demand for property is at an all-time high and this makes it a ripe market to harness.
2. Reducing Business Hurdles
The property market in the country is still young. If you are planning to put your money into Yangon’s property market, you should be prepared for some challenges. The real estate market is not yet fully streamlined and this makes it important to do your research before investing. The World Bank has ranked Myanmar 167th globally in terms of ease of doing business. Luckily, there are some notable improvements including the recent passing of the Condominium Law. Improvement of infrastructure is also going to increase returns for investors. According to the McKinsey Group, infrastructure projects are the biggest contributor to the country’s GDP and real estate is firmly at the core of these projects.
3. Invest In a Real Estate Agent
A reputable real estate agency Yangon is your best friend when investing in the city. Go for an international firm that is knowledgeable about the local market. These experts help in development consultancy services, property valuation, property management, landlord and tenant representation, commercial leasing and so much more.
Go on and talk to a trusted real estate agent in Yangon and harness the potential of this young property market.
The author is an experienced professional at the Yangon real estate market. He is also a passionate writer about the emerging trends in the Real Estate Industry. He is also good at guiding the first home buyers. Visit http://sps-myanmar.com for more details.