Yangon office for Savills

Hong Kong-based Savills real estate firm opened an office in Yangon on December 16 to join in the continuing boom in land and property prices here.

Richard Emerson, country manager of Savills Myanmar, said, “Our team in Yangon has already taken instructions across a variety of brokerage disciplines, including office and retail leasing, development feasibilities, market research, valuations and investment
brokerage.”

Office rents in Yangon have risen by 80 percent during the past year, while five-star hotel room rates increased by 70pc, according to data by Savills.

Serviced apartment rents, meanwhile, have risen by 50pc and quality retail rents by 10pc, according to the same data.

Neil MacGregor, managing director of Savills Vietnam, said Myanmar real estate was a hot topic among investors and developers from Hong Kong, Japan and Taiwan, and would remain so for years to come.

source: The Myanmar Times

http://www.mmtimes.com/index.php/business/property-news/9111-yangon-office-for-savills.html