Government and administrative bodies working on land requirements for housing projects

"Previously, the Yangon Region fulfilled land requirements for housing projects. Now, we have some difficulty with the matter because some actors have showed opposition and claimed that their farmlands were seized illegally. What we need is for the relevant administrative organisations to coordinate with each other the issue," said Min Htein on Saturday.
The chairman of Myanmar Construction Entrepreneurs Association said, earlier this month that it was time to implement many housing projects in Yangon, as the number of homeless people is increasing.
Chairman Tha Htay made the remark at the office of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry on January 9.
However, the big issue is land availability for the projects. Some believe that apartment prices could decrease if private constructors implement housing projects on the land allotted to them by the government.
Currently, people can buy apartments in installments by having contacts with the Construction and Housing Development Bank. Buyers have to open their housing savings account at the bank, which sends a weekly list of those who have deposited 30 per cent of the value of one apartment unit in their accounts, to the Department of Urban and Housing Development.
The department sells apartments in accord with the policy adopted by the ministry, meaning that those who are not on the list of first priority will have the second chance in upcoming projects.  Furthermore, the eight-year installment plan for buying an apartment unit worth around K10 million has been extended to 10 years, according to the bank. The department announced the lists of lucky buyers for low-cost housing projects in Shwelinban, Dagon Seikkan and Yuzana on January 10.