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Myanmar’s Online Real Estate Market Booms

Yangon’s online real estate market is experiencing an increase in usage as a means to do research in preparation for purchasing property, realtors say.

There are currently 10 real estate agents providing services through the internet and all are experiencing an increase in the use of their service.

“In the past 10 days, we have received 13 inquiries about real estate. These inquiries are about purchasing, not renting.

“As the companies compete with each other to provide online real estate consultancy services, the buyer can choose which company is more suitable to their needs,” said U Win Maung, a spokesperson from Zabu Thitsar Real Estate agency.

The number of inquiries made is at least three times higher than the number of listed properties, he added.

U Win Maung said buyers get to compare listed online prices to the prices asked by traditional agents, which is often higher, and become well-informed while buying or renting properties.

However, some realtors say the online real estate market is yet to pose any significant competition to traditional agents, but things will change in the future.

“Even though the reach is quite limited now, online services will be more successful in the future,” said U Kyaw Thun Naing of Pyi Gyi Ta Gon Real Estate agency.

“Online real estate market is likely to be trendier in the future,” said U Than U form Man Tai Real Estate agency. 

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