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Burma eases condo laws to allow foreign buying

THE Burmese (Myanmar) government has begun implementing laws that make it easier for foreign buyers to purchase condominiums in the country, easing strict regulations on home ownership in the Southeast Asian country. According to the Myanmar Times, the Ministry of Construction recently announced the formation of a management committee to oversee the implementation of regulations under the Condominium Law 2016 and Condominium Rules 2017. On Jan 5, the ministry said the committee will register new and existing property developments that meet the definitions of condominiums. SEE ALSO: Why does China keep supporting Burma in the Rohingya crisis?  “So far, some 40 developers have come forward to register condominiums,” said U Myo Myint Oo member of the Yangon Region Condominium Management Committee said. The new law allows 40 percent of a condominium project to be sold to foreign buyers. U Myo Myint Oo, who is also the general secretary of the Myanmar... If you wish to read this full breaking news headline article, Burma eases condo laws to allow foreign buying, simply click on 'Read full story' below, but 1st please give 'Phuket Hotel Deals' a 'LIKE' or 'SHARE' before you visit 'ASIAN CORRESPONDENT'. Thank you Burma eases condo laws to allow foreign buying

 

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