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By The Irrawaddy 31 March 2022
Actual property costs in Myanmar’s capital have been rising since June final 12 months with demand for luxurious properties and land tripling in some areas.
Property brokers in Naypyitaw say gross sales are being pushed by former navy officers and rich households searching for someplace secure with dependable energy provides.
As residence to the junta chief Min Aung Hlaing and different senior figures, Naypyitaw has seen few regime raids on residential areas and random shootings, like in different cities.
A Naypyitaw agent instructed The Irrawaddy that demand for actual property has tripled since final June.
“We usually deal with three or 4 gross sales per thirty days however for the reason that coup had been are promoting no less than 10 or 12 properties a month,” the property agent mentioned.
Properties are promoting for between US$60,000 and $180,000, in line with brokers.
Different property brokers mentioned gross sales are highest in Dekkhinathiri, Pobbathiri and Ottarathiri townships as a result of they’re seen as essentially the most tranquil areas.
Dekkhinathiri is well-liked with the rich, Pobbathiri is residence to middle-ranking navy personnel and Ottarathiri hosts senior officers and retired civil servants.
An Ottarathiri resident mentioned: “I purchased my residence for 60 million kyats three years in the past however final week I bought it to a retired navy officer for 110 million kyats. He didn’t attempt to scale back the value.”
Luxurious properties are being quickly constructed within the three townships, totally on land handed to retired navy officers.
The previous dictator Than Shwe relocated the capital from Yangon to Naypyitaw in late 2005, apparently to insulate the navy management from well-liked uprisings.
Brokers say the extra dependable electrical energy provide in Naypyitaw is one other attraction.
Since final month, extended energy cuts have grow to be a daily a part of life throughout Myanmar.
Naypyitaw residents say there are few outages they usually solely final a number of hours. Energy cuts apparently by no means occur in Zayarthiri Township, the place Min Aung Hlaing lives and works together with different junta chiefs.
The junta not too long ago mentioned nationwide infrastructural upkeep and upgrades to an offshore fuel station are proscribing electrical energy manufacturing.
Naypyitaw controls the majority of Myanmar’s energy provide, leaving different cities in darkness.
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