Real estate market rebounds as Myanmar kyat depreciates

Those who have surpluses over the devaluation of the kyat reception Yangon-based land market, which has been stagnant for quite five years as a results of buying and collecting land with gold, has rebounded, consistent with land service providers.

Another fundamental factor that pushed the Yangon land market to life was the military council’s decision in 2021. The announcement was made on June 17 to scale back the rate on non-taxable funds.

A real realtor said, “Recently, we are turning to land . Prices range from tens of thousands to thousands. the important estate market has been chilly and therefore the market is beginning to shake up. The market has been cold for quite five years. And land doesn’t need to be as busy as gold. If he pays the tax legally, it’s legal. That’s why people are turning to land . land tax rates were further reduced under the junta. the general public also wants to pay taxes on the reduction. If there’s more trade, tax are going to be levied. the general public are going to be fooled, ”he said.

Under the NLD government, 6% of the tax-exempt income is between 1 lakh and 1,000 lakh kyats. 10 percent between 1,000 lakhs and three ,000 lakhs; 20 percent between 3,000 lakhs and three 0,000 lakhs; The Union bill was approved to levy a 30 percent tax on 30,000 lakhs and above.

According to a press release issued by the Military Council on June 17, 2021, 3% to Ks 1 million to Ks 1 million on non-assessment income; 5 percent between 1,000 lakhs and 3,000 lakhs; 10 percent between 3,000 lakhs and 10,000 lakhs; 15% between 10,000 lakhs and 30,000 lakhs; it’s stated that 30 percent are going to be collected for 30,000 lakhs and above, which may be a lower percentage than before.

“Whatever the days ,” said a market researcher advising on land . land only goes away over time. Dollars and gold go up and down for a short time then fall backtrack . land isn’t like that. It took years. “So there’s not the maximum amount risk as in dollars and gold.”

It is not an equivalent because it wont to be to buy land transactions, and most of the people are now accepting remittances through banking, and that they are negotiating the share with one another .

28 thoughts on “Real estate market rebounds as Myanmar kyat depreciates

Comments are closed.