Over 30,000 application forms to buy low-cost apartments in Yoma Avenue in Dagon Myothit (Seikkan ) township were sold and over 28,000 applications were resubmitted, according to the Department of Urban & Housing Development. 874 low-cost apartments built by the Department of Urban & Housing Development under Ministry of Construction will be sold.
The apartment will be sold under the supervision of the Yangon Region Government to low-income people with living difficulties, retired employees and young employees who are still in service. The apartment sale committee will review the applications and select from those who meet the criteria by lot.
There are many people living in rented houses in Yangon, and the apartment rental market is also on the rise due to the increasing number of migrated people into Yangon.Therefore, a tenant said that he would like to urge the relevant organizations to develop more rental housing projects to be more convenient for low-income people.
The Department of Urban and Housing Development under the Ministry of Construction is developing low-cost , affordable housing projects, and rental housing projects.It is reported that low-cost housing projects are being built and sold in Hlaingtharyar, Shwe Pyi Thar, Dagon Myo Thit (Seikkan) and Thanlyin-Kyauktan townships in Yangon Region.
Those who want to buy apartments in these housing estates must open a housing savings account at the Construction,Housing and Infrastructure Development Bank (CHID) and once they have saved up to Ks. 30,00,000 they will be able to buy an apartment by taking a long-term housing loan.
