The “Navigating the Property Market: Opportunities, Risks, and Outlook” event held by Colliers International Myanmar congregated key industry players such as developers, investors, legal consultants, and government officials to discuss the current and future trajectory of the country’s real estate industry.

In detail, the first part of the event covered a year-end review of the industry. Mr. Joshua Delas Alas, Advisory Services Manager for Colliers, covered five sectors of Yangon’s real estate landscape during the presentation, specifically office, retail, serviced apartment, upper-scale hotel, and condominium. “Overall, while there are many challenges in the market currently, what many does not realize is that, there are more opportunities present if we look at the right sectors and the right segments,” said Mr. Delas Alas.

Following the market overview, Mr. Paul Ryan Cuevas, Research Analyst for Colliers, presented their top market forecasts for 2019. Mr. Cuevas mentioned that out of the 11 predictions, the government’s exertions and support for the industry is the most fundamental in the list. He explained that while progress has been made, much remains to be done in this area, with 2019 likely to see further legislative efforts. “In 2019, a surge in real estate investments is likely as venture capitalists take advantage of opportunities that will arise from further enforcement and legislation of government policies such as the regulations under Condominium Law 2016 and Condominium Rules 2017; the relaxation of foreign ownership restrictions on retail and construction; increased leniency in visa requirements for several of Myanmar’s major trading partners; bylaws setting out rules and regulations for global and domestic tour operators, hotels, guest houses, and regional tour guides; and amendments to the existing procurement law and business registration systems which should entice more developers to take part in the government’s ambitious infrastructure development programmes,” said Mr. Cuevas.

Afterwards, a panel discussion consisting of representatives from different sectors was gathered to discuss the pressing issues surrounding the industry. The panelists include:

• Mr. Paul Ahlgrim, Leasing and Brokerage Services Associate Director, Colliers International 
• Mr. Karlo Pobre, Deputy Managing Director, Colliers International
• Ms. Khin Nilar Aung, Deputy General Manager of Credit Risks (Home Loan) for CB Bank
• Mr. Lau Kim Fung, Chief Finance Officer and Director for Golden Land Real Estate Development
• Mr. Pedro Jose Bernardo, Principal Foreign Consulting Attorney for Kelvin Chia Yangon 

Some of the topics raised during the panel discussion include the impacts of the recently announced notifications and implemented policies to the appetite of investors/developers looking to enter the country; the relationship linking affordability and a healthy mortgage market; main challenges for the growth prospects of the industry; and measures that needs to be taken to strengthen the property market and prevent future bubble.

Mr. Pobre concluded the panel discussion with the following statement:

“Overall, Myanmar’s real estate industry remains at a nascent stage. While there is a handful of risks and challenges in the market at this rate of development, we still believe that the opportunities awaiting developers and investors remain promising.”

For more information about the event or the Myanmar property market phone or email Mr. Karlo Pobre, Deputy Managing Director or Mr. Paul Ahlgrim, Leasing and Brokerage Services Associate Director from Colliers International Myanmar via the contact details below. 

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