Developers call on banks as Condo Law fails to boost market

Star City

(Source: Myanmar Times, 5 may 2016) The long-awaited Condominium Law passed in the closing days of the last parliament has failed to stimulate the housing market as expected. Developers call for a system of mortgage lending which offers longer loan term to be introduced to help would-be buyers. Currently, the banks only offer loans up to a maximum of 3 to 4 years. It is believed that longer-term loan coupled with more affordable pricing would help to stimulate the sales activities in Myanmar. (more…)

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