Mon State's Department of Urban and Housing Development plans to sell 256 houses out of the Banyar Dala affordable housing project in Mawlamyine. 

The housing projects implemented with government funding will now be available not only to retired and active civil servants but also to private buyers, according to Colliers International Myanmar.

“Buyers must first pay a 30 percent down payment to the government, and the rest must be paid through the banks under an installment payment program,” said an official from the Department of Urban and Housing Development.

Over the years, several affordable housing projects with long term repayment plans have also become available in many states across the country.

"Given the gradual increase in the proportion of people living in urban areas, the demand for affordable housing is expected to increase further in major cities and public sector alone will not be able to fulfill the growing housing need," says Colliers.

As Colliers views it, developers should implement more modern but low-cost housing projects targeted towards low as well as middle-income families to meet the increasing housing demand.

Source: Myanmar Business Today, Colliers International Myanmar

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