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22

Myanmar Luxury Property Hampered by Confusion Over Law on Foreign Buyers

By Tony Seruga

Law allowing overseas purchases leaves questions unanswered
Local developer Yoma says clarfications due this year may help

Confusion over a law allowing foreigners to buy condominiums in Myanmar is prolonging a slowdown in its residential property sector, highlighting the challenges of regulatory flux in the frontier market.

The legislation adopted in January 2016 leaves unanswered questions such as whether it applies to existing apartments, hurting efforts to woo investors. The outlook now depends partly on bylaws the government is working on to clarify the legislation, according to local developer Yoma Strategic Holdings Ltd...

Myanmar Luxury Property Hampered by Confusion Over Law on Foreign Buyers

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