The Yangon Region government is facing increasing pressure to address problems caused by a shortage of car parking within the city. The problem has been described by Colliers International Myanmar director Tony Picon as one of the city’s biggest barriers to growth.

Mr Picon made the comments during a recent seminar on the Condominium Law and Rules for law firm Kelvin Chia Yangon, according to a report in the Myanmar Times.

“Foreigners are now allowed to own up to 40 percent of the units in the building and banks are improving on the availability of mortgages. But without a change in the existing car park regulations, it’s game over for the condo sector,” he said.

All condos in Yangon must be allocated 1.2 parking spaces per unit under current regulations. Mr Picon believes this discourages developers from building smaller 1-bedroom or studio units to appeal to residents who may not want or be able to afford their own vehicles, such as single expatriates and working couples. 

Mr Picon believes unit sizes in Yangon should be getting smaller, because of apartment prices. “In Myanmar, most people simply can’t afford a $300,000 apartment,” he said.

However, parking space shortages are a more broader issue across Yangon. 

In Parliament, Yangon Mayor U Maung Maung Soe has said that the government will begin by taking action on empty car containers left in parking spaces reserved for residents, shop owners and patrons. This is particularly problematic in bigger market complexes, including Than Zay in Latha township and Nyaung Pinlay Plaza at Lanmadaw. 

Previously, the Yangon City Development Committee (YCDC) has considered a number of measures to improve parking and traffic congestion, including development of multi-storey car parks; regulations requiring car buyers to have council issued car park recommendation letters; and banning car importers from issuing Yangon licence plates. Nonetheless, illegal parking continues to add to traffic congestion in the city.

An investigation by the YCDC determined that the containers were being used by shop owners to store inventory. The owners have since been asked to remove the containers.

“Earlier this year, we met with shop owners to inform them that leaving their containers in the parking bays and around the complex vicinities over the long term is equivalent to breaking the law. We told them to remove the containers and assigned employees to monitor the situation,” said U Maung Maung Soe.

Sources: The Myanmar Times, Colliers International Myanmar

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