Friday 22 January 2016 – it’s official. The law relating to purchase of property by foreigners in the rapidly rising condominium market has been passed – foreigners can now buy. The limit is 40 percent of the apartments in a condominium. Agreement was reached and approval given by the Government of Myanmar on Friday.
The law relates to multi storey residential buildings with at least six floors and within a site of at least 1858 square metres.
This is a huge green light for investors in Myanmar.
We have heard reports of foreigners purchasing property via local contacts. The legal obstacles to ownership have now been cleared away.
We in FocusCore have been saying for some time, and you will know if you have read our blogs, that there is a once in a lifetime opportunity here in Myanmar. Now, what more can we say.
Earlier, our comments were especially related to businesses, jobs, careers, indeed our purpose for being here – to help business start here and thrive. Now the words, private investment in real estate, are also in lights. This is an incredible opportunity.
If you follow world events, stock markets, financial comments, you would have seen the ups and downs as the comments and or knock backs occur then the progress only to see another blip. If you look at the last few years in Myanmar the commercial, legal, events of change just keep on arriving. There is a pattern of change here that is sustained and the momentum will only make it stronger and probably even faster.
We urge you to contact us now to discuss how we can help you enter this dynamic market and economy. Don’t call us in a few years with deep regrets saying you did not call us! Looking forward to hearing from you for your confidential call. We can introduce you to a number of local developers with completed projects ready for purchase. My direct line is +95 92 5910 4411