18 Nov '13, 12am

#GlobalREBubble #Singapore 'Foreign Buying Boost For Myanmar' via @SGPropertyGuru

Nov 18, 2013 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share Overseas property buyers in Myanmar are now able to own apartments on the 6th floor or higher, according to an official draft of the Condominium Law which was published in the country last week. The law also stipulates that foreign buyers can purchase up to 40 percent of apartments above the sixth floor in condominium buildings. Speaking to local media, Capital Development General Manager U Soe Thiha Hlaing said that the property market will become more vibrant and would be bolstered by the provision to allow foreign ownership. “This would, in turn, encourage more foreign investment in the real estate market in Myanmar,” he told The Myanmar Time s. “There is already a fair bit of interest in the Myanmar property market from foreigners – particularly from neighbouring Asian countries – and this law...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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