As global brands keeps on competing with one another to enter into Myanmar’s commercial market, there is a boom in property value. With this boom, it’s relatively hard to find a bargain in Yangon’s rental market. This is because the prices of Yangon properties have skyrocketed with the influx of expats and international businesses setting up shop. Here are some tips that can help you to make a wise decision when choosing a property to reside.
Begin your hunt for rent online because generally ‘For Rent’ signs don’t appear out the front of properties in Myanmar. Browsing online and getting connected with different real estate professionals will help you find new properties listed for rent. Usually, the people who search for a rental property online are often the ones to receive a prompt follow up with questions on desired location, price, neighborhood and more.
Don’t always settle for one real estate manager because with proper research you could find multiple other professionals in the market who can supply you with the best suited rental properties at a fair price. There are stories of people who are shown the exact same apartment by different professionals and were quoted significantly different prices. Always choose a professional when it comes to your real estate needs in Yangon.
Whenever you begin the hunt to rent or buy a property, there are real estate professionals who begin with a ‘calling price’ that is considerably more than the market value. So get your real estate professional to see how willing the landlord is to negotiate and ask them to do the bidding for you. Also, offer a price a little lower than what you are actually willing to pay and chances are there you may very well get it for the price you had in mind.
Check Before Signing
Keep in mind that not every property is well-maintained or has been constructed perfectly. Don’t be shy to check even the slightest measures including water pressure, windows and doors for any unusual noises. Also, thoroughly check the electrical units and plumbing systems, voltage stability and more before signing the contract to avoid any nightmares.
Moreover, invest as much as time and energy as possible in finding a new home for rent to feel content and reduce future headaches and legwork.