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Find the latest rental rates on the Yangon property market
Yangon is situated in the southern part of the country, on the east bank of the Yangon River. It served as Myanmar’s capital until it was superseded by Nay Pyi Taw (Naypyidaw). Today, it remains the largest and most populous city in the country, with a population of over 5 million people. It is also the main commercial and economic hub of the country.
In the past several years, Yangon has undergone a significant transformation. Modern buildings, shopping malls, world-class restaurants, and rooftop bars have sprung up all over the city, but it still successfully retains its old colonial charm, dazzling Buddhist temples, and authentic street markets. With everything that it has to offer, Yangon is known as the most exotic city in Southeast Asia. The city does not only welcome tourists but also foreign investors and expats looking for new opportunities.
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.
As Myanmar's largest city, Yangon is a popular destination for expats and businesses looking to rent property. However, there are a few things to keep in mind before signing a lease. First, rental prices have been rising steadily in recent years, so it's important to do your research and negotiate a fair price. Second, most leases are for a minimum of one year, so be prepared to commit to a long-term rental. Finally, it's important to be aware of the city's infrastructure limitations. Many areas of Yangon lack reliable electricity and water, so be sure to ask about these amenities before signing a lease. By keeping these things in mind, you can help ensure a smooth transition into your new home in Yangon.
There is no one answer to this question, as foreigners come from all over the world and settle in different parts of Yangon depending on their specific circumstances. However, there are certain areas that tend to be more popular with expats. For example, many Westerners choose to live in the downtown area near embassies and international businesses. This provides convenient access to amenities and makes it easy to stay connected with the global community. Meanwhile, those who want a more authentic Myanmar experience often choose to live in local neighborhoods outside of the city center. Here, they can get a taste of daily life in Yangon while still having access to basic conveniences. Ultimately, it all comes down to personal preference, but there are plenty of options available for foreigners looking to make Yangon their home.
Yangon is Myanmar's largest and most cosmopolitan city, attracting a diverse range of tenants from all over the world. The city's rental market is notoriously competitive, with properties snapped up quickly by those who know when to look. So when is the best time to start your search? For most people, the answer is simple: as soon as possible. The sooner you start looking, the better your chances of finding your perfect rental property. However, there are a few key things to keep in mind when searching for a rental in Yangon. First, be aware of the city's high season, which runs from November to February. This is when demand for rental properties is at its peak, so expect prices to be higher and selection to be limited. If you're flexible on timing, aim to start your search during the shoulder season (March-April or October-November), when there are fewer renters competing for properties. Finally, keep an eye on the local news for updates on infrastructure projects that may impact the availability of rental properties in specific areas of Yangon. By following these tips, you'll be well-positioned to find your ideal rental property in Myanmar's bustling capital city.
When it comes to renting a home in Yangon, there are a few key things to keep in mind. First, consider your budget. Yangon is a large city, and rental prices can vary widely depending on the neighbourhood. If you're looking for a bargain, you might want to search in the outskirts of the city. However, if you're willing to pay a bit more, you'll find that there are some great neighbourhoods in the heart of Yangon. secondly, think about your lifestyle. If you're looking for a quiet neighbourhood with easy access to amenities, you might want to consider Bahan Township. On the other hand, if you're looking for a vibrant neighbourhood with lots of nightlife and restaurants, you might want to check out downtown Yangon. Lastly, make sure to do your research before signing a lease.