Low-cost housing units for sale in Yangon, Nay Pyi Taw
THOUSANDS of slots in low-cost housing for civil servants will be made available over the next year in the country’s administrative capital Nay Pyi Taw and its commercial capital Yangon, the permanent secretary for the Ministry of Construction has announced.
In Yangon, more than 10,000 rooms in low-cost housing projects in South Dagon, Dagon Seikkan and Hlaing Tharyar townships will be sold starting in 2017, ministry permanent secretary U Kyaw Lin said.
So far, 2100 rooms have already been built with another 8000 under construction.
“An initial payment [of 30 percent of the purchase price] will be required. After that, if they are government employees, regular deductions will be made from their salaries,” the permanent secretary said. The government will offer the apartments on an eight-year instalment fee plan.
Negotiations are currently under way to allow government employees to access bank loans from the Construction and Housing Development Bank to also provide for 15-year leases on the properties.
Priority access to the low-cost housing will be given to public sector employees and those with accounts with the Construction and Housing Development Bank.
The Yangon Region government is preparing to sell 1500 places in the new housing developments, including to private citizens.
“More than 1500 rooms will be sold by the arrangement of the Yangon Region government. Our ministry’s plan is to sell to government staff as the priority,” said U Kyaw Lin.
Public sector employees working in the nation’s capital will not be left out in the cold either, with the announcement of low-cost developments near the established civil servant housing site at Bukwal.
“We plan to build low-cost housing in Nay Pyi Taw. Two sample buildings have already been completed near the 1000-acre Bukwal estate,” U Kyaw Lin said. At the current time, it is not known when the Nay Pyi Taw housing will be available for sale, or how many rooms will be included in the slated development. – Translation by San Layy
and Zar Zar Soe