Yangon needs 75,000 new apartments each year
Yangon will need around 75,000 new apartments to be built each year to accommodate the city’s growing population, but contractors are struggling to come anywhere close to this target.
More than 330,000 people migrate to Yangon each year from elsewhere in the country, but formidable challenges remain to building enough accommodation to keep up with the pace of urbanisation, U Kyaw Kyaw Soe, associate secretary from The Myanmar Construction Entrepreneurs Association (MCEA) told The Myanmar Times.
Yangon city has a population of 5.14 million, which increases by 6.6 percent each year, according to MCEA estimates.
Just over 70pc of migrants to Yangon are from other towns in Myanmar and the remainder are from rural areas, said U Kyaw Kyaw Soe.