Commercial Real Estate Prices Climb In Capital
News: Commercial real estate prices have surged in the Burmese capital of Yangon as foreign companies set up shops in the country amid economic and political reforms. Office rents in the city are presently at around US$90 a square metre, more than rents in Bangkok, Singapore and parts of New York, reports the Bangkok Post. Real estate prices are unlikely to ease as numerous construction projects are not scheduled for completion until end-2014. High prices of real estate in the commercial sector have forced companies to set up their operations in apartments and residences, resulting in property boom in the residential sector. Real estate agency Scipio predicts residential leasing prices to climb up to 46% in H213.