South Okkalapa TownshipMunicipality of South Okkalapa
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South Okkalapa Township rentals boom
South Okkalapa's tranquil community is currently witnessing an expansion of the tenant base and the rent is beginning to look interesting, said realtor. South Okkalapa has fewer homes than other cities and is generally an ordered and peaceful township. "South Okkalapa not only has fewer houses than other cities, the area is also peaceful.
That' s why this year, those who want to move away from the center have begun to move to South Okkalapa," he added. Meanwhile, the streets have been refurbished, making commute comfortable and the rental of flats appealing in South Okkalapa, making the township an asset for rent. South Okkalapa Township, situated in the eastern part of Yangon, was founded in 1959.
It' encircled by Okkalapa Township in the northern, Dagon Township in the eastern, Yankin Township in the western and Thingangyun Township in the southern. There is a wealth of single-family homes in South Okkalapa. However, since 2014 many multifamily homes have been built in the area, several of them with more than 1,000m².
Buyer and tenant demands for these properties are now buoyant, said Daw Thuzar May of Thit Sar Real Estate Agency. "Previously there were only single-family homes in South Occalapa, but now there are many contracted homes. What is unique about South Okkalapa township housing is that the housing is not as small as other cities; the homes here are 20x60 ft of ground, so the area of a single housing block is over 1000m²," she noted.
In addition, the recent extension of the town has made South Okkalapa a kind of mini-hub for other cities. " Tamwe used to be the center of Yangon, but when Yankin grew, it became the new one. The commute to other South Okkalapa cities lasts about as long as the neighbouring township of Yankin.
In contrast to Thingangyun and Thaketa citieships, South Okkalapa does not face a heavy population that often leads to congestion, making it easier to commute and travel to and from them," said Daw Thuzar May. Being such, many now want to construct new houses in South Okkalapa Township, said U Yan Aung, General Manager of Asia Construction.
"Since there is still empty space along the major and inner streets, many contractors want to build homes and condos there," he said. Currently, an appartment on the groundfloor along some major streets is about 1,000,000,000 K per annum and the rental for the inner streets begins at 500,000 K to 150,000 K per annum, according to the Sai Khun Naung Real Estates Agency.
The Thanthumar Road, Thitsar Road and Yadanar Road are the congested streets in South Oakkalapa Township, and there are many individuals who hire there to do business and other business, said Daw Nwe Nwe Nwe Soe, an in-town realtor. "Over the last few years, many more places have opened in the township of South Okkalapa and more and more crowds have arrived.
Nevertheless, the people here are not as densely populated as in Thingangyun and Thaketa Township, which emerged afterwards. Also the inner streets here have a smaller population," she went on. Myo Thet Tun, who recently relocated to South Okkalapa Township, said he was attracted to the new homes there.
"When I was looking for an appartment near the highway for a reasonable rate, I found one in South Okkalapa.