Finding Great Real Estate for Sale in Kamayut, Yangon

Mar 16, 2016 Alice Real Estate Comments Off on Finding Great Real Estate for Sale in Kamayut, Yangon

Kamayut, located in the Yangon region, is filled with things to do and places to see. In many ways it is a prosperous mecca, known as a major upmarket area and the education center of Yangon. If you’re looking for real estate, you’ll easily find condos for rent, houses to buy, and apartments for sale at good prices in Kamayut itself.

Easy Shopping in Kamayut

Because Kamayut is considered a college district, many people are drawn there. This also makes it one of the richest areas of Yangon province and feeds into a busy retail and real estate market, whether for commercial or residential purposes.

If you decide to buy or rent in Kamayut, you’ll quickly find that the central Pyay Road boasts some of the town’s busiest and most popular institutions, including:

Yangon University,
The Institute of Economics,
Myanmar radio and TV,
The Institute of Education, and
Other major educational buildings

In fact, Kamayut features a great number of schools, from primary through to tertiary education. It’s no wonder that Kamayut is a popular spot for families and students! Many young families, business people, and expats alike live in the Yangon region, making it an interesting cultural melting pot where east and west meet on the streets.

But it’s not just a town for students and families, because Kamayut also sports the Junction Square Centre, which is a four-story shopping center of 300,000 square feet. This makes it one of the biggest shopping centers in the region; as such, it is central to commercial life in the town.

Property Boom in Myanmar

With former western sanctions being suspended, in recent years Myanmar’s real estate market has seen huge exponential growth as demand has grown for land and property. Where once successful business owners in Myanmar invested large sums of their money in property, there is now a growing interest in land and property, particularly in popular areas like Yangon, where prices are even on a par with those in Manhattan!

Business has therefore boomed, and there has been a recent rush to lease office space and a subsequent increase in demand for residential rental properties. Though new buildings are being commissioned to meet foreign demand, the real estate market remains competitive and real estate for sale in Kamayut has grown. While the demand for new rental properties to lease has had a downward effect on the supply of suitable construction projects in this space, the Yangon region remains very popular with foreign investors and those looking to build wealth in the area.

The natural effect of the lifting of sanctions and the demand for real estate from foreign interests is to drive local community and construction projects in popular towns like Kamayut in the Yangon region. It remains to be seen whether the outside demand for rental properties, both residential and commercial, will abate or whether it will find a natural settling point—but for foreign business interests and those looking to find new opportunities abroad in a thriving and developing local economy, Kamayut remains an attractive location.