Newly real property app launched by Myanmar’s real estate association
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Khit (NP News) - Aug 31
Myanmar’s real estate association MRPDA, that stands for Myanmar Real Property Development Association, introduced its new app for the real property during the event of electing the executive members held by the association in Naypyidaw last Sunday.
The app named ‘Myanmar Property Dealer’ - the MPD will inform users update news, reports, directives and information to make them better decisions in property data.
“You can make real property transactions via this app. This will be a useful tool for those who want to sell or buy a house. Rental services will also be available for not only the residential houses but also land leasing, factories or warehouses,” the event host said.
Users can save their property data including contracts and facts after making a user profile in the app.
I-banking transactions will be available to conduct activities of selling and buying the real property in the app. For the banking services, the MPD app is connected with the local banks and some foreign banks, according to the MRPDA.
Local brokers and agents in the real estate industry are allowed to open ‘Agent account’ within the app; then, unlimited posts and ads with properties photos and history records can be uploaded.
The domestic real estate market, especially in Yangon, has been hanging and freezing in transactions since the apartment prices were soared in late 2021 following the political transition happened in early 2021.
As the consequences of the highest forex rate among the country’s records, the costly construction materials with more than double prices trigger the values in the real estate industry with flying prices.
Mass of the different sectors in the local market were reluctant and inactive, people who want to invest moved to and looked for the land property, which in turn, leading to increase land prices.