Residential Real Estate - Myanmar

In Myanmar, the Residential Real Estate market market is expected to reach a value of US$687.80bn by the year 2024.
This projection indicates a potential annual growth rate (CAGR 2024-2029) of 5.31%, which would result in a market volume of US$890.70bn by 2029.
When compared globally, China is anticipated to generate the highest value in the Real Estate sector, with an estimated worth of US$112.9tn in 2024.
Myanmar's residential real estate market is experiencing a surge in demand due to increasing foreign investments and a growing middle class.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.

Residential real estate transactions
Residential real estate leases

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Residential Real Estate market in Myanmar has been experiencing significant growth and development in recent years. Customer preferences have shifted towards modern and luxurious properties, leading to an increase in demand for high-end residential developments. This trend can be attributed to the rising income levels and changing lifestyles of the country's growing middle class.

Customer preferences: Myanmar's middle class is expanding rapidly, with an increasing number of people entering the workforce and experiencing higher disposable incomes. As a result, there has been a shift in customer preferences towards more modern and luxurious properties. Buyers are looking for well-designed and well-maintained residential developments that offer a range of amenities such as swimming pools, gyms, and landscaped gardens. Location is also a key consideration, with buyers preferring properties in prime areas that are close to schools, hospitals, and shopping centers.

Trends in the market: One of the key trends in the residential real estate market in Myanmar is the development of integrated townships. These townships offer a mix of residential, commercial, and recreational facilities, providing residents with a self-contained and convenient living environment. Developers are capitalizing on the demand for such developments by creating master-planned communities that cater to the needs and preferences of the modern buyer. Another trend in the market is the rise of sustainable and eco-friendly housing. With increasing awareness about environmental issues, buyers are showing a preference for properties that are energy-efficient and incorporate green building practices. Developers are incorporating features such as solar panels, rainwater harvesting systems, and green spaces into their projects to attract environmentally-conscious buyers.

Local special circumstances: Myanmar is undergoing rapid urbanization, with a growing population migrating to cities in search of better opportunities. This has led to an increased demand for housing, particularly in major cities like Yangon and Mandalay. The government has recognized the need for affordable housing and has implemented policies to encourage the development of low-cost housing projects. This has created opportunities for developers to cater to the needs of the lower-income segment of the market.

Underlying macroeconomic factors: Myanmar's economic growth has been strong in recent years, driven by sectors such as manufacturing, construction, and services. This has resulted in increased employment opportunities and higher incomes, which in turn have fueled demand for residential real estate. Additionally, the government's efforts to attract foreign direct investment have boosted the economy and created a positive business environment, attracting both local and international investors to the real estate sector. In conclusion, the Residential Real Estate market in Myanmar is developing in response to changing customer preferences, rapid urbanization, and strong macroeconomic factors. Developers are focusing on creating modern and luxurious properties that cater to the needs of the growing middle class. The development of integrated townships and sustainable housing is also gaining traction in the market. With the government's support for affordable housing and the country's positive economic outlook, the residential real estate market in Myanmar is expected to continue its growth and development in the coming years.

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Residential Real Estate - Myanmar

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Living Space

Methodology

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