Cheap houses planned for Yangon
A rental housing project will be implemented on a 12-acre site in South Dagon Myothit Township, according to the Yangon regional government.
This project aims to house families that cannot afford to buy their own homes. Yangon will implement it with the help of Ks20 billion from the Union government for this fiscal year.
The Human Settlement and Housing Development Department handed over its 12.5 acres at the corner of No 2 and Mahabandoola roads to the regional government.
No specifications and rents for the homes have been announced.
A Yangon official said: “The housing will mainly be rented out to those who cannot afford to buy their own homes. No rental fees have been fixed.”
This is the first rental housing project in Yangon Region.
The regional government will invite tenders for the development of the project next month.
The rents for affordable homes in Yangon are beyond the means of many residents.
Last year, Yangon MP Nyo Nyo Thin from Bahan Township submitted a motion to implement a public rental housing project. But the regional government said that it had no plans to develop such a project.
Yangon plans to develop the project came about because of the Union government’s Ks20 billion assistance. A low-cost apartment in Yangon Region costs between Ks20 and Ks30 million.
