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MMK - Kyats (Lakh)
Find the latest rental rates on the Yangon property market
Yangon, formerly known as Rangoon, is the most populous city in Myanmar, with a population of over 5 million people and it has the largest international airport in the country, which is the main gateway to the country. It was the capital of Myanmar up until 2006 when the military government decided to move the capital to a new city. Today, Yangon still serves as the country’s financial and commercial center.
In recent years, Yangon has become a popular tourist destination. It has some spectacular sights that can be explored, such as pagodas, colonial buildings, and natural beauty. Besides tourists, the city has also welcomed an increasing number of expats and investors.
The most popular types of houses for foreigners to rent are semi-detached, detached, bungalows, mansions, and shophouses.
Semi-detached houses share a common wall with the house beside it and their layouts usually mirror each other. Bungalows and detached houses are very similar, they are surrounded by lands that can function as gardens and do not adjoin with other houses.
Shophouses in Yangon are basically the same as shophouses found in other parts of Southeast Asia, but they may have been refurbished and transformed entirely into a home.
Mansions are the most luxurious and biggest type of houses. They usually come with huge gardens and, sometimes, swimming pools.
The Shwedagon Pagoda is the most popular attraction in Yangon. It is considered as the most sacred Buddhist Pagoda in Myanmar. The structure of the Shwedagon Pagoda is mesmerizing. It is entirely covered in gold blocks and the top part of the tower is encrusted with precious stones, such as diamonds, rubies, and sapphires. Yangon also houses several other amazing pagodas, such as the Sule Pagoda and Botataung Pagoda.
Those who want to enjoy Yangon’s natural beauty should visit Kadwgyi Lake, where you can stroll around or simply relax. To get the finest local handicrafts, Bogyoke Aung San Market is the place to visit.
Yangon offers an affordable living cost for foreigners. However, foreigners should be aware that the prices and rents have increased significantly since the country opened its doors in 2011. In general, a single person needs a minimum of 1,400 USD a month to be able to live comfortably in Yangon. The official currency used in Myanmar is the Burmese Kyats (MMK), and 1 USD converts to 1,360 MMK. In Yangon, cash is king. However, only the most pristine bills are accepted.
Theravada Buddhism is the biggest religion in the city, which is why the city’s culture, customs, and etiquette are based on Buddhism values. The official and most widely spoken language is Burmese. Many people may understand and speak English to some extent, at least a basic level of English. Most expats do not have a hard time adjusting to the country since the people are friendly and welcoming.
To be able to rent in Yangon for an extended period of time, Stay Permit and Multiple Journey Special Re-entry Visa are needed.