HomeMMBIZ NewsHighway Project Jacks Up Myeik Real Estate Prices

Highway Project Jacks Up Myeik Real Estate Prices

Land prices in the southern district of Myeik in Thanintharyi region have doubled in some areas due to a highway bus terminal project that is underway in the area, according to officials and local residents.
“A plot of land that was once worth K1 million ($1,000) is now reaching K2 million ($2,000), while land that was previously K5 million ($5,000) has jumped to K10 million ($10,000),” said U Thein Lwin, the administrative officer in the district.
“Prices vary depending on the location. At present, the demand far outweighs the supply due to these projects,” he added.
According to local residents, the majority of people interested in investing in property in the area – which is located close to the border with Thailand – as they are interested in investing in businesses in the region, mostly because of the much-vaunted Dawei special economic zone project, only 25km away from Myeik.
“Many businesspeople want to buy plots of land in the townships of Konephauk, Inle Myaing and Yarpraw in southern Myeik. These areas are close to the highway bus terminal construction project,” said Ko Shu Maung, a local resident.
A highway station will also be constructed at a 40-acre plot of land between Shwe Pyi Tan and Inle Myaing townships through public private partnership, officials said.

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