20 September
High-priced properties are selling well these days, with Monywanites investing in properties in the K100-600 million price range in downtown Monywa, said Ko Htay Thein, a real estate agent from Monywa.
“Earlier, property owners quoted high prices. Now, they are open to selling their estates at a reduced price. So, purchasers are showing their willingness to buy apartments downtown. From 2019, some downtown areas such as Aung Mingalar, Ahlae, Sulegon, and Phonesoe along the Bogyoke Road have become a favorite among buyers. The main purchasers of Monywa real estate are businessmen, Yangon companies, private hospital investors, and private school investors,” said Ko Htay Thein.
Earlier, entrepreneurs and real estate agencies were buying and selling prime properties in Monywa town for K1 billion. But now, properties worth K100-600 million are finding buyers in the market.
“Annually, properties in Chanmyawady which are located near Monywa University sell better than those situated in other places in the market. After 2017, property prices in Chanmyawady have become stable, and the properties are being sold at normal prices,” said Ko Htay Thein.
“Earlier, the price of an 80×60 square feet ground floor apartment was around K20 million. Now, a flat of this measurement near Thazi road is being sold in the range of K30-K40 million.
Although the house owners have decided to sell apartments at lower prices, the agencies are increasing the prices of the properties for their own profit,” he added.
Myo Win Tun (Monywa)
(Translated by Hay Mar)
