Colliers International Myanmar: Yangon Serviced Apartment Market Quarterly Report Q4 2018
Competition is anticipated to gradually intensify as supply is estimated to double in the next two years. This will perhaps be more noticeable in the upscale segment. Meanwhile, the entry of higher quality projects in 2018 has already driven rents towards more competitive levels. Despite the price correction, affordability remains a key concern amongst mid-level professionals, especially single and couple expatriates. Overall, Colliers still sees strong untapped demand for modern quality limited serviced apartments and dedicated apartments for lease. There is similarly a notable shift in the overall unit mix favouring one and two-bedroom units. Hence, we urge developers to focus on these segments instead.
Click the image below to download the latest report. Click Here if the image is not working.