The Mandalay real estate market became active in early 2019, with more people wanting to rent properties, according to real estate agents in Mandalay.
“Since the end of Vassa — a three-month annual retreat for Buddhist — there are more people who want to rent properties, especially people from the country side renting both condominiums and apartments,’’ said U Lun Maung, a real estate agent in Mandalay.
In 2018, monthly rental prices for apartments ranged from K100,000 to K150,000, but have gone up to between K150,000 and 250,000 depending on location and size of the apartments in more popular ares.
“Monthly renting fee for a villa [or, a large house, ED.] were K500,000-800,000. But now it reaches K1 million to 2 million depending on the location,” said U Yang Aung, an executive of Mandalay Regional Real Estate Agents Development Association.
Depending on the property’s location and size, the monthly rental fees for a villa ranges from K1.5 million to K3 million, while average apartments rental fees ranges K75,000 to K150,000.
Source:https://www.mmbiztoday.com/articles/interest-mandalay-real-estate-spikes-early-2019