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Presently, between 500 and 1000 Lakhs Kyats price property were most well sale and the high-cost housing were less sale in Mandalay’s real estate market place, said Some Real Estate Agents.
Mandalay’s property market was silent since from in the past six years. But obviously it was not good in sale after the late year 2014 and at present they give priority to the buyer in need rather than trading, said U Wanna Soe, Phoe La Min Real Estate Agency.
At present situation, it is going well in regular. The most sale property is under 1000 Lakhs Kyats. Now a day the property is selling with available of negotiation price with willingly by the owner from the high price at the past year because of that in this year it’s going well better than the past years. People are most interested the property of the location like Chan Mya Thar Si, Maha Aung Myay, Pyay Gyi Ta Khun Township, he added.
The reason of silencing the property trading is because of the price is too high without reducing the price and selling continuing with the same high price for a long time, due to the market place as well as due to the tax rates, its effect upon the market place. But now a day the way of trading is became changing and the trader also decreased in investing and increased the buyer for living, he added.
The important thing is tax system. The tax rates will be 30 percent if buying the land with 3000 lakhs Kyats price and the tax payment will be 1000 lakhs kyats. Therefore, the limited tax rate should be consider again,’” said U wanna Soe.
At present, according the limited tax payment system is to pay 15 percent which the land price is from 1 kyats to 300 lakhs Kyats, 20 percent is from 300 lakhs kyats up to 1000 lakhs Kyats and 30 percent is above 1000 lakhs kyats.
