Myanmar’s real estate market is booming. The country’s property laws, although they currently exclude foreign investors from ownership, are set to change in the future. And those reforms, plus already good returns on property, have those who can afford to – mostly from Singapore, China and Korea – buying up property at rapid rates.
Such reforms and growth are said to be inevitable, but local businesses are feeling the effects of the foreign interest and are finding it difficult to compete. Moreover, Myanmar’s coming elections and investment influx will test investors’ sentiment, says Director of Cube Capital HK Limited, Alexis de Mecquenem:
“Right now, it’s still not yet possible to invest efficiently in this country… There could be a lot of hot money flowing to the country, too much money, creating a kind of asset bubble – speculation, to the point where prices can crash.”