Dala land prices skyrocket due to New City Project
Workers work on a bridge that connects Yangon and Dala townships at Latha township, on January 14, 2019. Photo: Ko Ko Htay/The Myanmar Times
As investment interest in the Dala New City Project has intensified, so too the price of farmland in the area has risen sharply, said News City Real Estate MD Ko Htun Lin Kyaw.
“As the farmlands will be taken over by the New City Project, we’ve seen an increase in farmland investments. This regional farmland will become even hotter over the next two months,” he said.
Whilst the Dala Bridge Project was underway the areas which received highest offers were Kyan Sit Thar, Da Bin Shwe Htee and Ba Yint Naung. But those wards can’t sell anymore,” he said.
Because of Covid-19, the Dala real estate market cooled down in March and April, but picked up again in May, with June registering even more transactions.
Acres of farmlands are selling 50 percents faster, and prices have increased by 10 pc. There is higher demand for farmland in Nyaung Ngot Hti, Htoo Gyi, Htaw Out, Pyaw Bwal, Tadar Chaung, Khanaung Shan Su and Ye Chaung Wa villages.
Depending on the projects’s estimated price range, an acre of land is priced from K20 to K25 million in phase 1; K18 million to K22 million for phase 2 land; and K8 to K13 million in phase 3. Work on phase 1 is schedules to begin in 2020. – Translated
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