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The residential real estate market in Burma (Myanmar) size is estimated to grow by USD 220.7 million, at a CAGR of 4.6% between 2023 and 2028. The residential sector in Myanmar is experiencing significant growth, driven by increasing investments in sustainable urban infrastructure and government support for affordable housing. This trend is attracting both local and international players to the market. The Myanmar government's commitment to providing affordable housing solutions for its growing population is evident in various initiatives, including the implementation of the National Housing Policy and the establishment of the Myanmar Housing Public Corporation. Additionally, the country's strategic location and abundant natural resources make it an attractive destination for real estate investors. As a result, the market is witnessing a surge in construction activities, with numerous projects underway to meet the rising demand for housing. Overall, the combination of government support, sustainable urban development, and increasing investments presents a promising outlook for the residential sector in Myanmar.
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The market encompasses various property types, including condominiums and villas, catering to diverse segments such as affordable housing and luxury housing. The real estate industry offers investment opportunities through ready-to-move-in apartments and under-construction properties. Housing development in urban areas and metropolitan regions, driven by transportation networks like highways and urban centers, is particularly active. Real estate agents and property managers play a crucial role in facilitating transactions and managing properties. Home automation is increasingly becoming a desirable feature in modern residential properties, enhancing comfort and convenience. Real estate investment, whether for commercial or residential purposes, requires professional services and careful consideration of factors like interest rates and borrower profiles. Housing development extends beyond urban areas, with a growing focus on affordable housing in small towns and rural communities. Real estate loans are essential for first-time homebuyers and long-term borrowers alike, making access to financing a significant consideration in the market.
The growing residential sector in Myanmar is notably driving market growth. The market is experiencing significant growth, with an increasing number of property development projects underway. These projects include the construction of various types of residential properties such as bungalows, condos, cooperatives, duplexes, townhouses, and multifamily residences. The growth is driven by urbanization and rising standards of living in Myanmar. Integrated living is a popular trend in the residential sector, with home buyers investing in sustainable development projects that incorporate eco-friendly construction practices, energy-efficient buildings, waste reduction, and the use of sustainable materials.
Additionally, tourist attractions and tourism have drawn the attention of foreign investors, making Myanmar an attractive destination for the elite class and middle to upper middle class. The construction industry is expected to continue its growth trajectory, with a focus on sustainable practices and smart cities. Thus, such factors are driving the growth of the market during the forecast period.
Technological adoption in the real estate industry is the key trend in the market. The market is witnessing significant technological advancements, transforming the sector for the better. Smart sensor technology is gaining popularity, enabling properties to adopt eco-friendly construction practices and energy-efficient buildings through waste reduction and the use of sustainable materials. Cloud technology is another trend, offering a centralized platform for property managers and developers to collect and analyze leasing data from their portfolios. These technological innovations are particularly relevant in urban centers and metropolitan areas, where walkability, sustainability, and tech-savvy environments are increasingly desirable.
Moreover, the adoption of smart cities and sustainable development projects appeals to both local and foreign investors, including the middle and upper middle classes, first-time homebuyers, and the elite. In rural communities and small towns, real estate loans with favorable interest rates continue to be essential for housing development. Tourist attractions and tourism are also driving growth in the market, particularly in the hotel sector. Overall, these trends reflect the evolving needs of modern urban living and the ongoing commitment to sustainable practices in the market. Thus, such trends will shape the growth of the market during the forecast period.
Regulatory uncertainty is the major challenge that affects the growth of the market. The market is experiencing a shift towards walkability, sustainable development, and eco-friendly construction practices. Property development is focusing on energy-efficient buildings, waste reduction, and the use of sustainable materials. Smart cities and tech-savvy urban environments are becoming increasingly popular, with a focus on sustainable practices and urban centers. Housing development is not limited to metropolitan areas but is also expanding to rural communities and small towns. Real estate loans and interest rates remain significant factors for long-term borrowers and first-time homebuyers. Tourist attractions and tourism are driving demand in certain areas, attracting foreign investors.
Further, government regulations are evolving to include environmental, social, and government (ESG) criteria in the performance and disclosure of real estate assets. These regulations add cost, time, and uncertainty to development projects and can pose new challenges and operating restrictions on existing properties. However, the trend towards sustainable development and eco-friendly construction practices is expected to continue, making it an essential consideration for real estate companies and investors alike. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aung Myin Pyae Sone Co Ltd - The company offers residential real estate such as Inwa Housing.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The landed houses and villas segment is estimated to witness significant growth during the market forecast period. The market encompasses a range of property types, including condominiums and villas, catering to various budgets and lifestyle preferences.
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The landed houses and villas segment accounted for USD 552.2 million in 2018. Affordable housing and luxury housing segments continue to attract homebuyers seeking property ownership. Big housing spaces in the form of ready-to-move-in apartments and under-construction properties are popular choices for those seeking more living area. The real estate industry is witnessing innovation through home automation, providing convenience and added value to property investments. The banking industry is extending support to homebuyers with low-interest rates, making it an opportune time for investment in real estate.
Further, developers are responding to urban housing demands by constructing Light House projects using advanced construction technology and environmentally friendly methods. High-value properties, including commercial and industrial properties, offer significant business model opportunities for real estate investors. Zoning ordinances and transportation networks, such as highways and public transit, play a crucial role in determining the value and desirability of residential properties. Real estate investment, professional services, and property management firms are essential partners in navigating the complex real estate market. Rental cash flow from commercial and residential properties can provide steady income for investors. Overall, the real estate market presents a diverse range of opportunities for those seeking to invest or purchase properties for personal use.
The market report provides comprehensive data with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market encompasses various property types, including condominiums and villas, catering to diverse segments such as affordable housing and luxury housing. The real estate industry offers investment opportunities through ready-to-move-in apartments and under-construction properties. Home automation adds value to modern residences, appealing to tech-savvy homebuyers. The banking industry supports the market by offering low-interest rates, making property ownership more accessible. Developers focus on constructing high-value properties using advanced construction technology and environmentally friendly methods. Zoning ordinances regulate the use of land for residential and commercial purposes, including industrial projects. Urban housing demands continue to rise, with Light House projects and other large housing spaces addressing the need for more living space. Transportation networks, such as highways and public transit, and job centers and business districts, further influence real estate markets. Real estate investment, professional services, and property managers play crucial roles in facilitating transactions and managing properties. Rental cash flow and property ownership are essential considerations for homebuyers.
Market Scope |
|
Report Coverage |
Details |
Page number |
113 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.6% |
Market Growth 2024-2028 |
USD 220.7 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.18 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aung Myin Pyae Sone Co Ltd, Ayeryar Hinthar Holdings Co. Ltd., Beaver Concrete Construction Co., Inc., Capital Diamond Star Group Ltd., Dagon Group, Eden Group, Ever Seiko Co. Ltd., Excellent Fortune Development Group, IME Group, Keppel Corp. Ltd., Marga 23 Investment Ltd., Max Myanmar Group, Myanmar Seilone Group , Shwe Taung Development Co. Ltd., and Yoma Strategic Holdings Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Mode of Booking
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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