Yangon real estate enters election shutdown
Real estate agents in Yangon say the property market has fallen totally silent over the past week, with almost no deals signed.
While sales have continued to slow since the start of the year, there has been no buying and selling whatsoever over the past week, because the 8 November election is drawing near, said agents.
“The property market is currently silent, by which I mean 100 percent. Everywhere, every type of market, big or small, deal volumes are way down,” said U Khin Maung Aye of Shwe Kan Myae real estate agency.
“Property dealers have almost stopped trading, which makes a big impact on the market. Though occasionally people are still selling their properties because they need the money,” he said.
