This Myanmar condo law has done the opposite of what it intended

More than a year after its passage, a law designed to expedite foreign buying of condominiums in Myanmar has done the opposite, Bloomberg reported.  Luxury unit values in the country sank 22 percent between 2014 and 2016, while those for mid-tier condos slid 41 percent, data from Colliers International Group showed.  Vagaries to the 2016 Condominium Law have put off prospective investors in projects that may or may not qualify as condominiums. The law permits foreign nationals to buy condominiums legitimately for the first time in Myanmar, with the caveat that foreign ownership of a development must be capped at 40 percent.    Read the article………….

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