Real Estate Trends

Why Is Real Property In Myanmar So Costly?

Born in Yangon, Serge Pun spent his adolescence in China during the Cultural Revolution and arrived in Hong Kong at the age of 21. The US has since announced chosen lifting of trade sanctions in opposition to the country and the market has responded positively, with Yoma’s share worth surging to a brand new high of $zero.60. On its part, the corporate has undergone restructuring, with its China real property holdings now targeted solely on the retail mall component of its Grand Central Project.

Phil Robertson, an expert maritime labour issues and the writer of a report for the Worldwide Migration Group, entitled, Trafficking of Fishermen in Thailand,” says Myanmar migrants are in demand because Thais tend to avoid working as fishermen within the wake of the 1989 Typhoon Gay tragedy that noticed the sinking of 200 fishing boats, 458 deaths and over 600 lacking, presumed dead.

Final yr, the government axed a five-year property tax holiday, when the real estate market was already on the rise, which brought into effect a 30 percent transaction tax and a 7 percent stamp tax, both to be paid by the customer. The property market prices in Yangon declined Ks100,000 per square foot avenue price from 2015. Whereas general economic improvement is slowing down, the property market of China is stalling at an even sharper price.

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