Myanmar Residential Real Estate Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.38 Billion |
| Market Size (2029) | USD 2.09 Billion |
| CAGR (2024 - 2029) | 8.63 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Myanmar Residential Real Estate Market Analysis
The Myanmar Residential Real Estate Market size is estimated at USD 1.38 billion in 2024, and is expected to reach USD 2.09 billion by 2029, growing at a CAGR of 8.63% during the forecast period (2024-2029).
- The ongoing political turmoil and a rapidly rising third wave of COVID-19 cases severely impacted the Myanmar economy, which had already been weakened by the pandemic in 2020. Reduced mobility and incomes, protests, labor shortages, the ongoing disruption of critical business services, including logistics and telecommunications, and public services such as health and education have hit economic activity.
- Apartments and land parcels are always available for purchase. Year over year, the price hikes are gradual. The cost has not changed. As a result, the investors can only earn minimally. With time, both the dollar value and the price of gold are skyrocketing. Based on their purchase price, the buyers may perceive the profits. Making money quickly for housing is challenging. Because of this, many do not choose to invest in the real estate industry.
- With supposedly abolished epidemic restrictions, Myanmar is again accessible to foreign investment. Unfortunately, no one was waiting to purchase real estate in Yangon, which was bad news for local developers and stakeholders. As demand outstripped supply at the beginning of the previous decade, property values in Myanmar's former capital surged.
- The market is witnessing a rise in mixed-use developments that combine residential, commercial, and retail spaces. These developments offer convenience and a live-work-play lifestyle, attracting buyers and investors seeking integrated communities.
Myanmar Residential Real Estate Market Trends
Growth of Urbanization Driving the Market
- The ongoing effects of COVID-19, rising prices, and the political unrest in Myanmar devastated populations, forcing them to adapt and develop coping techniques. The typical migration pattern from rural to urban areas, which significantly contributes to the nation's socioeconomic development, has been particularly interrupted. Serious repercussions for migrants and their families become apparent when the effect of this movement pattern is examined in further detail.
- These crises have severely affected workers and businesses and immobilized the nation and its economy. There were problems with the supply chain, increased insecure employment, and the closing of numerous enterprises. According to ILO projections, Myanmar has 1.1 million fewer women and men working than it did in 2020.
- A projected 19.3 million women and men were employed in the first half of 2022, a slight increase from the 18.6 million predicted for 2021. However, the proportion of employed working-age individuals was still significantly lower than before the military takeover. The ILO also claims that there is a substantial decline in work quality. For many workers, the working circumstances are precarious due to severe invasions.
Yangon Public Rental Housing Driving the Market
- Yangon had immense potential to become a thriving model city for ASEAN cities. It was a metropolis with a vibrant social fabric, rising educational standards, a hospital environment favorable to business prosperity, a highly educated population, and local governments willing to undertake institutional change. The Ministry of Construction is undertaking public rental housing projects in Yangon, Mandalay, and Nay Pyi Taw, the highly populated cities, to better the socio-economic conditions of the people and generate work possibilities through the construction sector.
- On a 174-acre site in Yangon, a 3,104-unit public rental estate project would be built, with four five-story structures housing 194 apartments each. The government put millions of kyats into the project, and they hope to recoup their investment by charging long-term rentals to the general people. When the project is finished, the renters can rent a home in the housing estate at a reasonable rate. Each unit of the public rental housing will be 650 square feet wide. Each apartment contains two bedrooms, one living room, and one bathroom. The project area includes the market, school, clinic, playground, and park. Efforts are being made to lease some completed apartments in the project areas by the end of 2022. The finished units are now being installed with electricity and water supply facilities.
Myanmar Residential Real Estate Industry Overview
The Myanmar Residential Real Estate Market is fragmented due to numerous players in the market. Some major players are Marga Group, Shwe Taung Group, Dagon Group, Yoma Strategic Holdings, etc. The market is absorbing new projects, and modern housing seekers are expected to invest in the real estate sector. Thus, various companies focus on launching and marketing new projects, along with entertainment and stability for residents. The market is witnessing slow growth due to declining demand and increasing supply, which resulted in a considerable gap while exacerbating price pressures.
Myanmar Residential Real Estate Market Leaders
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Marga Group
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Shwe Taung Group
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Yoma Strategic Holdings
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Myanmar Seilone
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Dagon Group
*Disclaimer: Major Players sorted in no particular order
Myanmar Residential Real Estate Market News
- June 2023: UNDP, UN Women, and UN-Habitat yesterday brought together representatives from local communities, NGOs, development partners, and the private sector to discuss research on urban poverty and the innovative strategies used in a new project building resilience in low-income urban communities. It aims to strengthen residents’ resilience by supporting community-led groups to improve essential services and facilities, upgrade the physical environment of informal settlements, address gender-based violence, and promote livelihoods, skills, and job creation.
- February 2023: The Myanmar National Unity Government (NUG) housing project, Spring Bliss, reached preorders of more than 6,500 apartments within a day. The shadow government seeks to raise funds for the ongoing revolution against the military regime by selling or auctioning off military-owned property. The Spring Bliss houses will be built on land illegally seized by the military in Yangon’s Hlaing Tharyar, South Dagon, and Mingaladon townships.
- January 2022: A 10,000-room public rental housing project was underway in Dhakhinathiri Township of Nay Pyi Taw Council Area, Dagon Myothit (South) Township of Yangon Region and Patheingyi Township of Mandalay Region. Phase 1 of the project is on 171 acres of a land plot in Dagon Myothit (South) Township of Yangon Region, was 48% completed. Phase 1 by the Myanmar Construction Entrepreneurs Federation and Myanmar Licensed Contractors Association includes 194 building units for 3,104 rooms.
Myanmar Residential Real Estate Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
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4.2 Market Dynamics
- 4.2.1 Market Drivers
- 4.2.1.1 The growing concept of integrated living
- 4.2.1.2 Increasing the construction of residential spaces such as single-family homes, condos, cooperatives, duplexes, townhouses, and multifamily residences in the country.
- 4.2.2 Market Restraints
- 4.2.2.1 Regulatory uncertainty
- 4.2.3 Market Opportunities
- 4.2.3.1 Technology adoption in the real estate sector
- 4.3 Value Chain/Supply Chain Analysis
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitue Products
- 4.4.5 Intensity of Competitive Rivalry
- 4.5 Residential Real Estate Buying Trends - Socioeconomic and Demogpaphic Insights
- 4.6 Government Initatives and Regulations in Residential Real Estate Sector
- 4.7 Insights on Size of Real Estate Lending and Loan to Value Trends
- 4.8 Insights on Interest Rate Regime for General Economy, and Real Estate Lending
- 4.9 Insights on Rental Yields in Residential Real Estate Segment
- 4.10 Insights on Captial Market Penetration and REIT Presence in Residential Real Estate
- 4.11 Insights on Affordable Housing Support Provided by Government and Public-private Partnerships
- 4.12 Impact of COVID - 19 on the Market
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Villas/Landed Houses
- 5.1.2 Condominiums/Apartments
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5.2 By Cities
- 5.2.1 Yangon
- 5.2.2 Mandalay
- 5.2.3 Naypyidaw
- 5.2.4 Mawlamyine
- 5.2.5 Other Cities
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Marga Group
- 6.2.2 Shwe Taung Group
- 6.2.3 Yoma Strategic Holdings
- 6.2.4 Myanmar Seilone
- 6.2.5 Keppel Land
- 6.2.6 Capital Development Limited
- 6.2.7 SPS Mynamar
- 6.2.8 Dagon Group
- 6.2.9 Eden Group
- 6.2.10 Excellent Fortune Development Group*
- *List Not Exhaustive
7. FUTURE OF THE MARKET
8. APPENDIX
** Subject To AvailablityMyanmar Residential Real Estate Industry Segmentation
Real estate (land and any buildings on it) used for residential purposes is commonly referred to as residential real estate; single-family dwellings are the most prevalent type of residential real estate. A complete background analysis of the Myanmar Residential Real Estate Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact is included in the report.
The Myanmar residential real estate market is segmented by type (villas/landed houses and condominiums/apartments) and by cities (Yangon, Mandalay, Naypyidaw, Mawlamyine, and Other Cities). The report offers market size and forecasts in values (USD) for all the above segments.
| By Type | Villas/Landed Houses |
| Condominiums/Apartments | |
| By Cities | Yangon |
| Mandalay | |
| Naypyidaw | |
| Mawlamyine | |
| Other Cities |
Myanmar Residential Real Estate Market Research Faqs
How big is the Myanmar Residential Real Estate Market?
The Myanmar Residential Real Estate Market size is expected to reach USD 1.38 billion in 2024 and grow at a CAGR of 8.63% to reach USD 2.09 billion by 2029.
What is the current Myanmar Residential Real Estate Market size?
In 2024, the Myanmar Residential Real Estate Market size is expected to reach USD 1.38 billion.
Who are the key players in Myanmar Residential Real Estate Market?
Marga Group, Shwe Taung Group, Yoma Strategic Holdings, Myanmar Seilone and Dagon Group are the major companies operating in the Myanmar Residential Real Estate Market.
What years does this Myanmar Residential Real Estate Market cover, and what was the market size in 2023?
In 2023, the Myanmar Residential Real Estate Market size was estimated at USD 1.27 billion. The report covers the Myanmar Residential Real Estate Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Myanmar Residential Real Estate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
How is the Myanmar Residential Real Estate Market Segmented?
The Myanmar Residential Real Estate Market is Segmented by a) Property Type: Landed houses and villas, Apartments and condominiums, and Housing estates b) Location: Urban centers, Suburbs and satellite towns, and Rural areas c) Buyer Demographics: Low-income and affordable housing, Middle-income and upgraders, and Expatriates and foreign buyers
What are the Opportunities in the Myanmar Residential Real Estate Market?
The Opportunities in the Myanmar Residential Real Estate Market are a) Affordable housing segment with a significant demand b) Foreign investment in residential properties c) Rising demand for sustainable and green housing options
Myanmar Residential Real Estate Industry Report
The Myanmar residential real estate market is experiencing robust growth, driven by rapid urbanization, increasing disposable income, and favorable government policies. The real estate market in Myanmar caters to a diverse range of buyers through a variety of residential properties including apartments, condominiums, villas, and townhouses. Key market segments in the Myanmar real estate market report include low-income and affordable housing, middle-income and upgraders, as well as expatriates and foreign buyers.
The real estate market in Myanmar is characterized by dynamic factors such as changing consumer preferences and economic conditions, which stakeholders need to navigate to succeed. Opportunities in the Myanmar real estate market report include the affordable housing segment and sustainable and green housing, which are increasingly in demand. However, challenges such as limited financing options, land ownership issues, and infrastructure gaps persist. Overall, the Myanmar real estate market presents significant opportunities for growth and expansion, catering to the rising demand from various buyer demographics.
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In summary, the Myanmar residential real estate market is poised for significant growth, with market predictions and market outlook indicating a positive trajectory. The market segmentation and market value are essential components for understanding market dynamics. The industry reports and industry research provide a thorough analysis, supported by market data and market forecast. Industry trends and industry statistics underscore the evolving nature of the market, making it imperative for stakeholders to stay informed through comprehensive industry analysis and market review.
