Written by Admin on January 31, 2014. Posted in News, Top Stories
Myanmar's real estate association has urged the government to initiate low-cost housing projects to balance the ever-rising real estate prices, reported Eleven Myanmar.
Khin Maung Than of Myanmar Real Estate Service Association in a meeting made the above comment, saying the tax would not do enough, according to the report.
"The soaring price of real estate can't be controlled right now," said Khin Maung Than.
The government is currently initiating two low-cost housing projects near Yangon which are expected to be completed in 2015.
The government is also planning to sell apartments from two low-cost housing projects in suburb Hlaingthaya Township soon.
Apartments from Bomhu Ba Htoo housing is also being sold out by the government.
It is difficult for even a middle class family in Yangon to own a house or apartment due to ever-increasing estate prices as the businessmen invested largely in real estate.
Source: http://www.news.myanmaronlinecentre.com/2014/02/01/real-estate-association-urges-govt-to-build-more-low-cost-housing/
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