H1 2019 Yangon Real Estate Report

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Nov 25, 2019, 10:45 ET

DUBLIN, Nov. 25, 2019 /PRNewswire/ -- The "H2 2018 Yangon Real Estate Review" report has been added to ResearchAndMarkets.com's offering.

This report is based on research carried out in Yangon since 2014, as well as the longer-term market understanding of our staff. In addition to conducting interviews with developers, contractors, brokers, government and local authority officials, as well as other relevant businesses and organisations, numerous site visits to the projects mentioned in this report were conducted.

The report is aimed at a wide range of readers, including developers, investors, funds and consultants, as well as construction companies, architects and building materials suppliers seeking to do business in the sector.

Fully updated as of January 2019, it contains three main sections:

Project profiles: More than 80 detailed profiles of in-planning or under-construction projects, with information on developer, status, location, funding, pricing, sales take-up, contractors and consultants, completion dates, background and more
Market review: Analysis of the Yangon real estate sector, with key news across different segments, district-by-district mapping and profiling, legislation, analysis of the residential, commercial, retail and hospitality markets, supply forecasts, data and more
Company profiles: More than 70 profiles of developers and contractors involved in Yangon real estate, as well as local authorities and state bodies relevant to the sector

Summary:

Off-plan residential sales showed signs of greater activity in H2 2018 at most developments, and several new projects were launched. However, there are wide variations in take-up across projects Some particularly compelling offerings saw significant sales, such as Golden City Phase 1. Several developers halted or cancelled their projects, such as those behind Min Residences or the Illustra at Pho Sein, while progress remains slow at Union City or Pyay Tower and Residences. Developers continue to organise regular sales exhibitions and promotions, with discounted pricing.

While sales still remain modest, a significant residential pipeline is evident. In the Grade A market, we have now reduced our forecasts from H1 2018 and expect 7,500 new units to come online by the end of 2019, with nearly half scheduled for H1 2019, although further delays are likely.

No significant launches occurred in the retail or office market in H2 2018, with the exception of some small-scale stock in the Kantharyar Centre, which was completed in early 2019. We still expect more high-end office units to come online in the next few years, with further downward pressure on leasing rates, which appear to be relatively flat at present. Times City will represent a large addition to Grade A retail stock when it opens in H1 2019.

The Condominium Law finally came into force in H2 2018, after years of uncertainty and delay. Its impact is already being felt, with developers having started to register projects with local Condominium Management Committees. The new law may also open up a bigger spectrum of financing options for homebuyers. However other pieces of legislation, such as the Apartment Law and Real Estate Service Law, are still in a draft stage.

The hospitality sector is experiencing a challenging period, affected by low tourism arrivals and the wider business environment. Coupled with a number of high-end openings in H2 2018, this has created downward pressure on occupancy and sales. Nonetheless, interest in the hospitality market remains from overseas investors, with several new projects expected to bring a significant number of rooms onto the market in 2019 and 2020.

Overall, the Yangon real estate market appears to now be emerging from a challenging period, with progress on legislation and financing options likely to encourage more sales going forward, particularly in the mid-range market. We still expect to see more project cancellations and delays, however, as developers reassess the viability of projects that were originally planned several years ago and are no longer feasible in current conditions.

One indicator of the health of the market will be the interest shown by developers in the proposed Yangon New City, which is making concrete progress on planning as of early 2019.

Key Topics Covered:

Section A: Myanmar and Yangon

Introduction
Development, Population, Economic Growth and FDI
Legal and Investment Framework
Government Offices and Regulatory Bodies
Key Laws and Acts in Real Estate
Myanmar Investment Law and FDI
Condominium Law
Special Economic Zone Law
Upcoming Laws in 2019
Imports and Construction Materials
Real Estate Service Law
Types of Property and Ownership
Real Estate Transactions & Financing
Build-Operate-Transfer Agreements
Sales Transactions
Real Estate Financing and Off-plan sales
Banking and the Real Estate Market
Yangon
Geography and Layout
Planning and Zoning
Demographics
Utilities and Infrastructure
Transport

Section B: Township profiles

Ahlone Township
Bahan Township
Dagon Township
Downtown CBD
Hlaing Township
Hlaingtharyar and Insein townships
Kamayut Township
Mayangone Township
Mingaladon
Mingalar Taung Nyunt Township
New Dagon Townships
North and South Okkalarpa Townships
San Chaung Township
Tamwe and Thingangyun Township
Thaketa and Thanlyin Townships
Yankin Township

Section C: New Developments

Companies & Projects
Building Materials
Commercial & Industrial
Government & Local Authorities
Legislation
Residential
Hospitality
Retail
Heritage
Transport and Infrastructure
Investments
Yangon New City Development

Section D: Market Analysis

Residential Market Analysis
Residential Stock
High-end Residential Stock
Recent Supply Trends
The High-Rise Freeze of 2016
Residential Pricing
Government Appraised Values
Sales, Demand Drivers, and Future Supply
Demand Drivers
Future Supply
Affordable Housing Projects
Serviced Apartments
Residential Outlook
Office Market Analysis
Background and Recent Trends
Pricing
Office Stock and Supply
Shifting Centres
Occupancy
Future Supply
Serviced Office Market Analysis
Conventional and Serviced Office Outlook
Retail Market Analysis
Background and New Developments
High-end Retail Supply
Pricing
Occupancy and Tenant Breakdown
New Brand Entrants
Future Supply
Retail Outlook
Hospitality Market Analysis
Background and General Trends
High-End Supply
Hospitality Outlook

Companies Mentioned

A1 Construction
Adventure Myanmar Tours and Incentives
Apple Tree Asia
Asia Express
Asia Myanmar Consortium Development
Asia World
Aspidin Construction and Trading
Aung Kaung Kyaw Group
Aung Myin Pyae one (AMPS) Construction
Ayeryar Hinthar Construction
Beaver Group
CHIDB
CITIC Construction
Capital Development (CDSG)
Chan Thar Shwe Myay
Creation Myanmar
Crown Advanced Construction
Dagon Construction
Department of Urban and Housing Development
Eden Construction
Ever Seiko (Living Square)
Excellent Fortune Development Group
First Myanmar Investment
Ga Mone Pwint
Golden Thitsar
Golden Yadanar Myaing Construction
Green Vision
Hoang Anh Gia Lai (HAGL)
Htoo Construction Development
Htun Myat Aung
IGE LandiGreen Construction
Inno International Development
Jewellery Luck
KHG Development
KMA Construction and Real Estate
KT Group
Kajima Overseas Asia
Kanbawza (KBZ) Group
Keppel Land
Korea Land and Housing
LP Holdings
Lat War Group
MKT Construction
Maha Nawarat Land
Mandalay Golden Wing Construction
Marga Global
Max Myanmar Construction
Ministry of Construction
Ministry of Hotels and Tourism
Motherland Construction
Mottama Holdings
Myanmar Seilone
Myanmar V-Pile
Myat Min
NSKRE Myanmar
Naing Group Capital National Infrastructure Holdings
New Yangon City Development
Noble Twin Dragons
Pyi Nyein Thu Construction
Real Home Construction
Rich Mandalay Group
Sae Paing Development
Shan Star New generation & supplies
Shangri-La Asia
Shine Construction
Shining Star Group
Shwe Gon Development Group
Shwe Taung Property
Shwe Than Lwin Construction
Soilbuild (Myanmar)
Sun Myat Tun
Surbana International Consultants (Myanmar)
Sustain Construction
Ta Gaung Bwar
Taw Win Family
Tetlann
Toener International
Uniteam Investment
Universal Construction
Wa Minn Properties Development
Yangon Metropolitan Development (YMD)
Yoma Strategic Holdings
Yuzana Group
Zaykabar

For more information about this report visit https://www.researchandmarkets.com/r/t45xsg

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