Edited by Damaz6052, 2008-05-23 16:23:19.
Jump to content
87 replies to this topic
Posted 2008-05-23 16:20:22
Does anyone know of or have experience in buying property in Burma?
Edited by Damaz6052, 2008-05-23 16:23:19.
Posted 2008-05-23 16:58:27
My gardener has some for sale, but he says it is the buyers responsibility to remove the tenant that's been squatting on his land for the past 45 years.
Posted 2008-05-24 09:06:33
I reckon you are right on the money.
Posted 2008-05-24 09:23:50
I'm not sure about land in Burma but if you're looking for a good bargain I am selling the Sydney Harbour Bridge. Personally I think it would be a better buy than land in Burma.
The Bridge was built in 1932 but has been constantly maintained and painted, and is still in good shape. PM me for the purchase price.
(As for payment, I only accept a bank transfer to my bank account at the National Bank of Nigeria)
Posted 2008-05-24 09:28:42
i have plenty of land in burma and its ready to be sold now due to unforeseen problems.comes complete with some bows and arrows too.
Posted 2008-05-24 09:45:14
Maybe its a joke post but
The junta might not last for ever and you might get a bargain
My best pal at work is from Burma and has a large place there he pay's a family to live - I might ask him out of interest.
Look at Cambodai - prices have shot up in the capital and if you said 10 years ago to buy there you would have been laughed at
Posted 2008-05-24 10:58:14
about 10 years i enquired about property in Burma/Myanmar. no way for foreigners, and no change until this very day.
Posted 2008-05-24 11:09:25
You know what they say, *never invest more in Burma than you can walk away from.*
Posted 2008-05-24 11:15:25
Oh no ! your gonna draw all the anti property investment brigade to this thread, but for once they may be right
Posted 2008-05-24 11:23:37
How would I go about setting up a Burmese company to own my property or at least setup a 30 + 30 lease?
Do they have tapwater over there?
Posted 2008-05-24 15:14:35
Do not know the OP but why do people think its a joke? My ex was burmese and I still visit her family and kid and they asked me not long ago if I could buy their house for them. In am sure I am not the only one on this board with a Burmese connection . Anyway if anyone has any info i would be interested.
Posted 2008-05-24 17:05:48
I know this is off-topic, but to show the ridiculousness of Burmese authority's paranoia: a Burmese woman cannot legally marry a foreigner.
as for land, why not arrange to rent or lease?
Posted 2008-05-24 17:12:35
I have a couple of friends living in Yangon and married to local women. I guess someone forgot to tell them
I think it's the same as in Laos, you need advance permission from the government.
As for land ownership, believe it's the same as in Thailand, ie, leases are available, or you can form a corporation or use a Burmese partner.
Posted 2008-05-24 17:22:20
and then? looking at the land using Google Earth?
Posted 2008-05-25 03:14:08
God some people are heartless. Has the OP and various others (RichardB) been living on the moon???
Posted 2008-05-25 09:50:13
Heng...plenty of taps in the water I believe.
Posted 2008-05-25 10:47:56
I read an article somewhere that the city is really changing in Myanmar, because the Chinese have moved into the city and are buying up the central areas. Chinese businesses everywhere. Prices have shot up, locals have sold for profit and moved toward the city outer areas. Certainly someone could make some serious money there. I think being Chinese can help.
Posted 2008-05-25 10:55:33
Posted 2008-05-25 16:33:41
Not just the chinese.
Other nationals have also bought and are doing business there.
Posted 2008-05-26 03:13:53
I think we are all talking about taking care of our Burmese friends and family and incidently having a little retreat in the Shan Hills maybe .
Posted 2008-05-26 11:59:05
I have some knowledge of this subject.
Foreigners are absolutely prohibited to own any property, be it land or condo, in Burma.
The loophole of setting up a Company, and buying the poperty in that Company's name, is very problematic and could lead to more problems than it sets out to solve.
Foreigners that HAVE purchased property in Burma (and there are a few) use a Burmese law called 'General Power' which at least gives them control over the property in their lifetime, but possibly not after that. Most simply buy in their wife's name and hope for the best!
As a poster above has stated, there has been a real estate boom in Burma, particularly in Rangoon and Mandalay, the former fuelled by a more prosperous middle class (generally with some Government connections), the latter with Chinese money.
Real estate prices are very cheap even by Thai standards. A reasonable 'walk-up' apartment can be bought downtown for as little as $12,000, whilst even a new development comparable with those in Thailand will be around $80,000 for a 1600sqft condo with quite some luxury and in a prime area.
Apart from those with Burmese wives/girlfriends who need to buy for practical purposes, the real estate market is in many ways a gamble on a future democracry. If and it is a big IF there were to be some future political change whether in 5 or 20 years, the market will explode.
If you are serious about such a purchase I would suggest you get yourself a REPUTABLE local lawyer, failing which possibly I can find one for you.