YANGON — With a population of more than 7 million, Yangon is the biggest city and main business hub in Myanmar. Real estate prices in the city have increased since last year, according to the 2018 “Cost of Doing Business in Myanmar” report published by the Directorate of Investment and Company Administration (DICA).
DICA said the New Companies Law, which took effect Aug. 1, favored foreign investment.
With such investment expected to play a crucial role in national development, the report is aimed at making it easier for existing and potential investors to ascertain the cost of doing business in Myanmar, especially in Yangon.
According to the report, North Okkalapa Industrial Zone has the highest lease rates and South Okkalapa has the highest prices among industrial zones in Yangon.
All the companies surveyed reported an increase in total salary payments compared to last year’s report.
The average price for office space was 1,000 kyats per square foot, while the average lease rate for industrial land was 500 kyats/sq. ft. The average lease rate for commercial space was around 2,800 kyats/sq. ft.
Check out The Irrawaddy’s charts and infographics to see the cost of doing business in Yangon.
Minimum and maximum lease rates per square foot of industrial land in Yangon
Maximum sales price per square foot of industrial land in Yangon
Average lease rate per square foot of office space in Yangon
Average sale rate per square foot of office space in Yangon
According to the investment law, foreigners are not allowed to buy property, but the following prices are provided for reference.
Commercial space for lease in Yangon
Click the bubble to see the location and price
Overall median salaries at companies in Myanmar by position
Salaries in Myanmar are paid in MMK or U.S. dollars (USD). However, 97% of locally owned companies, 90% of local-foreign joint ventures, and 86% of foreign-owned companies pay in MMK.
Currencies in which local companies pay employees’ salaries
Currencies in which local-foreign JV companies pay employees’ salaries
Currencies in which foreign-owned companies pay employees’ salaries
