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6,000 Homebuyers Apply for 1,000 Low-Cost Housing Units in Yangon

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6,000 Homebuyers Apply for 1,000 Low-Cost Housing Units in Yangon

The Irrawaddy, 19 Apr 2018

URL: https://www.irrawaddy.com/news/burma/6000-homebuyers-apply-1000-low-cost-housing-units-yangon.html
YANGON — More than 6,000 Yangon residents have submitted applications to purchase 1,000-plus low-cost apartments put up for sale by the Yangon regional government, according to the government Public Housing Sale Committee.

The committee is due to meet by the end of this month to determine how the apartments will be allotted. “We’ll discuss to whom to sell the apartments at the meeting,” he said.

The Public Housing Sale Committee received a total of 6,020 application forms—753 from retired civil servants, 1,761 from civil servants, 843 from company staff and 2,663 from the general public.

The committee, which is staffed by regional lawmakers and department heads, will choose the buyers based on a majority decision by the committee members.

The apartments up for sale are in South Dagon, Dagon Seikkan, Thingangyun, Hlaing Tharyar, Shwepyithar and North Okkalapa townships.

Application forms were sold from Feb. 5-20 for 1,000 kyats each, according to the Department of Urban and Housing Development.

Buyers are required to place a down payment of 30 percent of the price of the apartment, and then pay monthly installments for a period of 10 to 15 years.