The Pyidaungsu Hluttaw will approve a real estate service law within three months, said U Tin Maung Win, chair of Transport, Communication and Construction Committee at Myanmar Real Estate Services Association annual meeting on March 23.
“Although some have said that it is too early, the law will be enacted within three months if it is carried out now. Such a law is needed here as it is already in place in other countries,” he said.
The Myanmar Real Estate Services Association has signed an agreement linking its economy with other ASEAN countries. As foreigners are also involved in the local real estate market, an exact law is needed to regulate real estate services in Myanmar, said U Tin Maung Win.