Residential Real Estate Myanmar Market Size
| Study Period | 2019-2028 |
| Base Year For Estimation | 2022 |
| Market Size (2023) | USD 1.27 Billion |
| Market Size (2028) | USD 1.92 Billion |
| CAGR (2023 - 2028) | 8.63 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Residential Real Estate Myanmar Market Analysis
The Myanmar Residential Real Estate Market size is expected to grow from USD 1.27 billion in 2023 to USD 1.92 billion by 2028, at a CAGR of 8.63% during the forecast period (2023-2028).
- The ongoing political turmoil and a rapidly-rising third wave of COVID-19 cases severely impacted the Myanmar economy, which had already been weakened by the pandemic in 2020. Reduced mobility and incomes, protests, labor shortages, the ongoing disruption of critical business services, including logistics and telecommunications, and public services such as health and education have hit economic activity.
- Apartments and land parcels are always available for purchase. Year over year, the price hikes are gradual. The 12.5 x 55-foot flat on the first level costs U. The cost has not changed. As a result, the investors can only earn minimally. With time, both the dollar value and the price of gold are skyrocketing. Based on their purchase price, the buyers may perceive the profits. Making money quickly for housing is challenging. Because of this, many do not choose to invest in the real estate industry.
- With supposedly abolished epidemic restrictions, Myanmar is now again accessible to foreign investment. Unfortunately, no one was waiting to purchase real estate in Yangon, which was bad news for local developers and other stakeholders. As demand outstripped supply at the beginning of the previous decade, property values in Myanmar's former capital surged.
- Apartments and land parcels are always available for purchase. Year over year, the price hikes are gradual—the 12.5 x 55-foot flat on the first level cost USD 27,000 in 2021. The cost has not altered until this point. As a result, the investors can only earn minimally. With time, both the dollar value and the price of gold are skyrocketing. Based on their purchase price, the buyers may perceive the profits. Making money quickly for housing is challenging. Because of this, many do not choose to invest in the real estate industry.
Residential Real Estate Myanmar Market Trends
This section covers the major market trends shaping the Myanmar Residential Real Estate Market according to our research experts:
Growth of Urbanization Driving the Market
The ongoing effects of Covid-19, rising prices, and the political unrest in Myanmar devastated populations, forcing them to adapt and develop coping techniques. The typical pattern of migration from rural to urban areas, which significantly contributes to the nation's socioeconomic development, has been particularly interrupted. Serious repercussions for migrants and their families become apparent when the effect of this movement pattern is examined in further detail.
These crises have severely affected workers and businesses and immobilized the nation and its economy. There were problems with the supply chain, increased insecure employment, and the closing of numerous enterprises. According to ILO projections, Myanmar has 1.1 million fewer women and men working than it did in 2020.
A projected 19.3 million women and men were employed in the first half of 2022, a slight increase from the 18.6 million predicted for 2021. However, the proportion of employed working-age individuals was still significantly lower than before the military takeover. The ILO also claims that there is a substantial decline in work quality. For many workers, the working circumstances are precarious due to severe invasions.
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Yangon Public Rental Housing Driving the Market
Yangon had immense potential to become a thriving model city for ASEAN cities. It was a metropolis with a vibrant social fabric, rising educational standards, a hospital environment favourable to business prosperity, a highly educated population, and local governments willing to undertake institutional change. The Ministry of Construction is undertaking public rental housing projects in Yangon, Mandalay, and Nay Pyi Taw, the highly populated cities, to better the socio-economic conditions of the people and generate work possibilities through the construction sector.
On a 174-acre site in Yangon, a project for a 3,104-unit public rental estate would be built, with four five-story structures housing 194 apartments each. The government put millions of kyats into the project, and they hope to recoup their investment by charging long-term rentals to the general people. When the project is finished, the renters will be able to rent a home in the housing estate at a reasonable rate. Each unit of the public rental housing will be 650 square feet wide. Each apartment contains two bedrooms, one living room, and one bathroom. The project area includes the market, school, clinic, playground, and park. Efforts are being made to lease some of the completed apartments in the project areas by the end of 2022. Now, the finished units are being installed with electricity and water supply facilities.
Residential Real Estate Myanmar Industry Overview
Myanmar's residential real estate market is fragmented due to numerous players in the market. Some major players are Marga Group, Shwe Taung Group, Dagon Group, Yoma Strategic Holdings, etc. The market is absorbing new projects, and modern housing seekers are expected to invest in the real estate sector. Thus, various companies focus on launching and marketing new projects, along with entertainment and stability for residents. The market is witnessing slow growth due to declining demand and increasing supply, which resulted in a considerable gap while exacerbating price pressures.
Residential Real Estate Myanmar Market Leaders
Marga Group
Shwe Taung Group
Yoma Strategic Holdings
Myanmar Seilone
Dagon Group
*Disclaimer: Major Players sorted in no particular order
Residential Real Estate Myanmar Market News
- February 2023: The Myanmar National Unity Government (NUG)’s housing project, Spring Bliss, reached preorders of more than 6,500 apartments within a day as the shadow government seeks to raise funds for the ongoing revolution against the military regime by selling or auctioning off military-owned property. The Spring Bliss houses will be built on land illegally seized by the military in Yangon’s Hlaing Tharyar, South Dagon and Mingaladon townships.
- January 2022: 10,000-room public rental housing project was underway in Dhakhinathiri Township of Nay Pyi Taw Council Area, Dagon Myothit (South) Township of Yangon Region and Patheingyi Township of Mandalay Region. Phase 1 of the project is in 171 acres of a land plot in Dagon Myothit (South) Township of Yangon Region was 48% completed. Phase 1 by the Myanmar Construction Entrepreneurs Federation and Myanmar Licensed Contractors Association includes 194 units of building for 3,104 rooms.
Residential Real Estate Myanmar Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunities
4.3 Value Chain/Supply Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitue Products
4.4.5 Intensity of Competitive Rivalry
4.5 Residential Real Estate Buying Trends - Socioeconomic and Demogpaphic Insights
4.6 Government Initatives and Regulations in Residential Real Estate Sector
4.7 Insights on Size of Real Estate Lending and Loan to Value Trends
4.8 Insights on Interest Rate Regime for General Economy, and Real Estate Lending
4.9 Insights on Rental Yields in Residential Real Estate Segment
4.10 Insights on Captial Market Penetration and REIT Presence in Residential Real Estate
4.11 Insights on Affordable Housing Support Provided by Government and Public-private Partnerships
4.12 Impact of COVID - 19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Villas/Landed Houses
5.1.2 Condominiums/Apartments
5.2 By Cities
5.2.1 Yangon
5.2.2 Mandalay
5.2.3 Naypyidaw
5.2.4 Mawlamyine
5.2.5 Other Cities
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Marga Group
6.2.2 Shwe Taung Group
6.2.3 Yoma Strategic Holdings
6.2.4 Myanmar Seilone
6.2.5 Keppel Land
6.2.6 Capital Development Limited
6.2.7 SPS Mynamar
6.2.8 Dagon Group
6.2.9 Eden Group
6.2.10 Excellent Fortune Development Group*
- *List Not Exhaustive
7. FUTURE OF THE MARKET
8. APPENDIX
Residential Real Estate Myanmar Industry Segmentation
Real estate (land and any buildings on it) used for residential purposes is commonly referred to as residential real estate; single-family dwellings are the most prevalent type of residential real estate. A complete background analysis of the Myanmar Residential Real Estate Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact is included in the report.
The Myanmar residential real estate market is segmented by Type (Villas/Landed Houses and Condominiums/Apartments) and City (Yangon, Mandalay, Naypyidaw, Mawlamyine, and Other Cities). The report offers the market sizes and forecasts for the Myanmar residential real estate market in value (USD Billion) for all the above segments.
| By Type | |
| Villas/Landed Houses | |
| Condominiums/Apartments |
| By Cities | |
| Yangon | |
| Mandalay | |
| Naypyidaw | |
| Mawlamyine | |
| Other Cities |
Residential Real Estate Myanmar Market Research FAQs
How big is the Myanmar Residential Real Estate Market?
The Myanmar Residential Real Estate Market size is expected to reach USD 1.27 billion in 2023 and grow at a CAGR of 8.63% to reach USD 1.92 billion by 2028.
What is the current Myanmar Residential Real Estate Market size?
In 2023, the Myanmar Residential Real Estate Market size is expected to reach USD 1.27 billion.
Who are the key players in Myanmar Residential Real Estate Market?
Marga Group, Shwe Taung Group, Yoma Strategic Holdings, Myanmar Seilone and Dagon Group are the major companies operating in the Myanmar Residential Real Estate Market.
Myanmar Residential Real Estate Industry Report
Statistics for the 2023 Myanmar Residential Real Estate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Myanmar Residential Real Estate analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Myanmar Residential Real Estate Market Report Snapshots
