Property for rent in Yangon

The most common property types for foreigners to rent in Yangon are condos, apartments, and houses.

Condos in Yangon are mostly newly built, modern, and have a minimalistic design. They usually provide a wide range of amenities, such as swimming pools, gyms, children’s playgrounds, spas, designated parking spaces, and 24-hour security systems. They may also have shops, restaurants, and halls. In terms of unit size, renters have the choice to choose between studio rooms and one- to three-bedroom. 

Apartments are essentially similar to condos, but they may be less luxurious. There are new, modern apartments and Myanmar-style apartments in the country. Both usually offer standard amenities such as parking space and 24-hour security, though Myanmar-style apartments mostly appeal to locals. There are also serviced apartments in the country, which are more luxurious. The units are fully furnished and renters can enjoy shared amenities like swimming pools and gyms. Serviced apartments also provide housekeeping, cleaning service, and laundry, allowing renters to live a hotel-like lifestyle.

The most common house types in Yangon are semi-detached and standalone houses. Both give renters more space and privacy.

Yangon is where you will find Myanmar’s most sacred Buddhist temple, Shwedagon Pagoda. It is an awe-inspiring 100 meters gilded structure. It is the most sacred Buddhist Pagoda in the country and is believed to contain sacred relics of four previous Buddhas. In addition to the Shwedagon Pagoda, the city is also home to the Sule Pagoda and Vicittarama Buddhagaya Monastery.

Yangon houses the largest number of colonial-era buildings in Southeast Asia, which is why a walk around the city will give visitors interesting views. Its night market is perfect to sample some local food, while its lake, Kadawgyi Lake, is an ideal place for an early-morning stroll.

The living costs in Yangon are relatively affordable, but not by any means cheap because rents and the price of items have increased significantly since the country opened up in 2011. Burmese Kyats (MMK) is the official currency and the exchange rate from 1 USD is about 1,360 MMK. In some tourist areas, US dollars are accepted for goods and services, though they only take the most pristine dollar bills.

Since the largest religion in Yangon is Theravada Buddhism, the customs and etiquette in the city are based on Buddhism values. The official language is Burmese. While not everyone in the country can speak or understand English, most people do have at least elementary knowledge of the language.

To stay in Yangon long-term, foreigners need to obtain a Stay Permit and Multiple Journey Special Re-Entry Visa. The stay permit can be issued for three to twelve months but is only valid for one entry. This is why Multiple Journey Special Re-entry Visa is needed.

1. Flexibility – renting gives you a lot of flexibility. If you do not plan to live in Yangon permanently or if your plans change, you can simply leave the property without having to worry about renting out or selling on the property.
2. Fewer risks – investing in Yangon still pose some degree of uncertainty and risks. When seeking for property permits, foreigners may be faced with incompetency and corruption.
3. More straightforward – the foreign property ownership law is still fairly new and not many properties are registered under the foreign investment law. This makes it complicated for foreigners to invest in the country today. For the time being, renting is easier and more straightforward.