Investing in Real Estate: Taking a Look at the Sanchaung Township in Yangon

Many real estate transactions in Myanmar take place in the Sanchaung Township, which is located in Yangon, also referred to as Rangoon. This city once was the capital of Myanmar (known formerly as Burma). Currently, the city serves as the capital of the region of Yangon.

Approximately five million residents live in this important commercial and urban area. The military government of the country officially relocated to the new capital of Naypyidaw in March 2006.

Colonial Architecture Abounds

Although the city presents an infrastructure that is not as developed as other major cities in Southeast Asia, it notably features the largest sampling of colonial architecture in the area. The city is also home to a large number of commercial buildings and high-rise residences.

Taking a Look at the Architecture

To appreciate the real estate for sale in Sanchaung and Yangon, you need to take a look at Yangon’s colonial-styled architecture. The downtown area of Yangon can indeed be a charming place to live, given its fin-de-siècle, or turn-of-the-century, facades. The architecture depicts a definitive sophistication that is punctuated by a kind of world-weariness that was conveyed during that time.

You see a lot of this kind of real estate in the Sanchaung Township of Yangon, as Yangon was once a former colonial capital of the British. In fact, the previous capital showcases the largest number of colonial-styled buildings in this part of Asia. You can see excellent examples of this type of architecture in such structures as the Strand Hotel and the former buildings of St. Paul’s English High School and the High Court in the city.

Highly Sought-After Real Estate

Most of the buildings from the era are four stories and are used for both residential and commercial purposes. The ceilings are often high, around 14 feet (4.3 meters) in height, permitting the building of mezzanines. The buildings found downtown, although not in ideal condition, are highly sought-after structures in the Yangon real estate market.

To further appreciate the real estate market in Yangon or Sanchaung Township, you may want to review the Yangon City Heritage List. This list, which was established in 1996, features all the structures or old buildings that need approval for modification or destruction. However, the city likes to underscore its history. In 2012, Yangon officials established a moratorium, covering a time span of 50 years, for the destruction of any structure 50 years or older.

The city’s Heritage Trust was created to form heritage sites in the downtown area to attract investors to revamp colonial buildings for commercial use. To make some distinctions about how buildings are referenced, condominiums are built with elevators, while an eight-story apartment building with elevators is simply called an apartment building.

Furthermore, apartment buildings are generally affordable while condominiums are usually priced out of the reach of most locals. That is because the elevators have to be powered by generators to ensure electric availability.

Needless to say, Sanchaung Township in Yangon is an interesting place. Downtown real estate in this location is highly desirable.

Espana Gomez is an author of this blog. Recently she works as an interior design assistant in her town. She loves daydreaming about beautiful homes and interior decor.