Enjoy complimentary customisation on priority with our Enterprise License!
The residential real estate market in Myanmar is estimated to grow at a CAGR of 3.97% between 2022 and 2027. The size of the market is forecast to increase by USD 181.3 million. The growth of the market depends on serval factors, including the growing residential sector in Myanmar, rising investments in sustainable urban infrastructure, and increasing support of the government for affordable houses.
This report extensively covers market segmentation by type (landed houses and villas, apartments, and condominiums), and mode of booking (sales and rental/lease). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
Technavio categorizes the residential real estate market in Myanmar as a part of the global specialized consumer services market within the global diversified consumer services market. The parent global specialized consumer services market covers revenue generated by the consumer service providers, including residential services, home security services, legal services, personal services, renovation and interior design services, consumer auction services, wedding services, and funeral services. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The growing residential sector in Myanmar is notably driving the market growth, although factors such as regulatory uncertainty may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Residential Real Estate Market Driver In Myanmar
The growing residential sector in Myanmar is the key factor driving the residential real estate market growth in Myanmar. An increase in the number of residential buildings is a driving force in the residential real estate market in Myanmar. The construction of residential spaces such as single-family homes, condos, cooperatives, duplexes, townhouses, and multifamily residence is on the rise in Myanmar. The residential construction industry is expected to witness robust growth during the forecast period, driven by growing urbanization and the standard of living in Myanmar.
Moreover, the concept of integrated living is rapidly growing in the residential sector, as home buyers have started investing heavily in residential projects with modern facilities, including shopping malls with multiplexes, schools, hospitals, leisure clubs, office blocks, and parks as home buyers are now looking to lead a more peaceful life that is self-sufficient and secure. While big residential projects such as townships take care of all social, civic, and recreational needs of home buyers and are equipped with multi-layer security systems, the demand for township living is increasing significantly. Such factors are expected to drive the growth of the residential real estate market in Myanmar during the forecast period.
Significant Residential Real Estate Market Trend In Myanmar
Technology adoption in the real estate sector is a key growth trend in Myanmar's residential real estate market growth. The adoption of technology is one of the growing trends in Myanmar's housing market. The growing adoption of technology is improving residential properties. Adopting new tools will increase productivity and save costs for everyone from agents and properties to builders and tenants.
For example, smart sensor technology: sensor technology is set to become a selling point for residential properties, aiding in properties to go green, along with enhancing energy savings. Thus, technology adoption is one of the growing trends expected to drive the growth of the Myanmar residential real estate market during the forecast period.
Major Residential Real Estate Market Challenge In Myanmar
Regulatory uncertainty is a major challenge to the growth of the residential real estate market growth in Myanmar. Government regulators in Myanmar are increasingly passing rules and laws reading the performance and disclosure of real estate assets according to environmental, social, and government (ESG) criteria. These rules are forcing real estate investors to measure and report their assets’ water, energy use, waste, carbon emissions, and climate change risks.
These rules are also demanding much innovation in the design, development, and construction of new buildings, as well as the renovation of existing assets, over a long time span. Real estate companies are still in the early stages of managing their ESG compliance requirements, and very few companies are prepared to implement changes to meet new regulatory requirements immediately. Thus, regulatory uncertainty can become a major challenge, which will hamper the growth of the residential real estate market in Myanmar during the forecast period
Key Residential Real Estate Market In Myanmar Customer Landscape
The 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 growth strategies.
Global Residential Real Estate Market in Myanmar Customer Landscape
Vendors 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.
ampsconstruction.com - The company offers residential real estate such as Inwa Housing. Also, through this segment, the company offers real estate in Myanmar.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the landed houses and villas segment will be significant during the forecast period. Landed houses and villas held the largest share of the residential real estate market in Myanmar in 2022 and will continue to dominate during the forecast period. Villa is a standalone house that comes with a veranda or yard. These are usually in areas where there are other villas as well.
Get a glance at the market contribution of various segments Request a PDF Sample
The landed houses and villas segment was valued at USD 538.37 million in 2017 and continue to grow by 2021. Villas in the same locality bring up a sense of togetherness and a feeling of community that building flats have, and yet they give the privacy that bungalows promise. The major difference between a landed house and a villa is that a villa is most times located and constructed in niche and exclusive areas; however, a landed house is a stand-alone dwelling that can be constructed on any kind of land irrespective of locality. With increasing urbanization and demand for homes, the landed houses and villas segment in the residential real estate market in Myanmar is expected to witness growth during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Type (Landed houses and villas, Apartments, and condominiums) and Mode Of Booking (Sales and Rental/Lease).
Residential Real Estate Market In Myanmar Scope |
|
Report Coverage |
Details |
Page number |
109 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.97% |
Market growth 2023-2027 |
USD 181.3 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.72 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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, and 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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
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 Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.