- Sign up or Log in
MMK - Kyats (Lakh)
Find the latest rental rates on the Yangon property market
Yangon, also known as Rangoon, is the former capital of Myanmar and the center of the country’s economic and commercial activity. It is also the country’s main entrance and seaport, with Yangon International Airport located within its area. Today, Yangon is the most populous city in Myanmar, having over 5 million people living across its area and it is also the most popular city in the country among tourists, expats, and investors.
The types of apartments for rent in Yangon include standard apartments, high-end apartments, and serviced apartments. Although there are some old apartment buildings in the country, foreigners usually choose to live in newly built, modern apartment complexes.
Standard apartments are the least expensive type of apartment; they usually come with studio rooms or rooms that have slim partitions imitating walls and offer standard amenities such as parking spaces.
High-end apartments are developed by a reputable construction company. On average, they usually have three bedrooms and provide amenities like parking spaces, security guards, and elevators. They are also much more modern in terms of design when compared to standard apartments.
The most luxurious apartment type is serviced apartments. Renters can enjoy fully decorated rooms and upscale amenities, such as swimming pools, gyms, children’s playgrounds, parking spaces, 24-hour security systems, and even cable TV.
Most people come to Yangon to admire the spectacular Shwedagon Pagoda. It is the most famous pagodas in the world and is one of the most sacred Buddhist sites in Myanmar. It is a 100-meter tall central structure that is entirely covered in gold and studded with precious stones, such as diamonds and rubies. Another popular pagoda in the city is the Sule Pagoda and Botataung Pagoda.
Besides the pagodas, Yangon also has many other attractions to offer. Visitors can walk through the lively Chinatown, tour the Martyrs’ Mausoleum, explore the Chaukhtatgyi Buddha Temple, feed the catfish at the beautiful Yangon Lake, stroll around Kandawgyi Park, or visit the National Museum.
Many people see Yangon as an attractive destination due to its low cost of living. However, foreigners should be aware that the prices of items and rents in the city are on the increase. In general, the cost of living is about 40% less than in the United States. The official currency used in the country is Burmese Kyats (MMK). 1 USD converts to around 1,360 MMK. In some tourist areas, US dollars can be used to pay for services and goods, but they only accept the most pristine bills.
The largest religion in Yangon is Theravada Buddhism, which is why the country’s culture and customs are based on this religion. Most people speak Burmese as it is the official language of the country. English is not widely spoken, but many people have a basic understanding of the language.
A Stay Permit and Multiple Journey Special Re-entry Visa is required for foreigners to live in Yangon for an extended period of time.