Mawlamyine, August (4)
According to a real estate agent, property prices in Mon State are continuing to rise with the surge in dollar and gold prices.
In the open market, the dollar exchange rate increased over 2,500 kyats, and the price of gold reached a record high of over 2,200,000 kyats per tical.
According to a real estate agent, the dollar and gold price crises caused individuals to purchase land, which increased demand for property.
“People are buying land and houses, weighing on the dollar and gold prices, which is driving up land prices. People are worried about keeping cash in their hands, so they invest in land,” he said.
In the real estate market, 1,000 lakhs worth of land has now increased in value by up to 1,500 lakhs.
A member of the Mon Real Estate Association told Than Lwin Times that although the economy continued to decline during the coup, the sales in the real estate market have rebounded.
In addition, buyers in the real estate market do not want to hold cash due to the decline in the value of the Myanmar currency, so they make payments immediately.
The price of a 30ft x 60ft plot of land in the outskirts of Mawlamyine, Mon State is around 200 to 300 lakhs, while the 40ft x 60ft plot of land has risen from 600 to 800 lakhs.
News – Than Lwin Times