Due to the collapse of the banking system, real estate prices have skyrocketed in Monywa, Sagaing Division.
According to a Monywa real estate agent, people are increasingly purchasing more solid land because they do not want to hold onto the kyat.
Land that was once worth between 50 and 100 lakhs in Monywa is now worth nearly 15 million and is being traded.
Thanlyin’s Nandawan Ward: According to a real estate agent in Monywa, the industrial and Chan Myawaddy neighborhoods saw the most activity and a lot of bargaining.
He stated, “The primary reason is the lack of financial strength.”In the bank, money isn’t very reliable.The dollar went up.When banknotes could not be withdrawn or deposited, I did not trust them and bought houses instead.There is more demand.A higher price is paid when both the seller and the buyer are unsure of the money.They buy back what they sell, so both the price and the price go up.It is not exaggerated.
Residents of Monywa claim that property prices have increased by nearly half in some areas.He claimed that the price had skyrocketed as a result of the ineffectiveness of banknotes and the lack of buyers and sellers.
Plots of high value are only traded, and plots of high value are rarely traded.
According to a real estate agent, sales have increased despite falling rents.
Chan Myawaddy, Myothit, Nandawan, industryYankin and Central Ward are less.A circle with 50 tons becomes 100 in some places, but a circle with 1,000 tons does not become 2,000.As previously stated, sales are terminated because buyers cannot even afford them.Because they don’t have any money, some people stop selling money.The majority of individuals are already buying and selling, if the seller wishes to sell.Then, prices increased.the initial purchaser.Rental costs have decreased.Previously, it was one year.They sewed for a long time.Due to begging and renting, the situation is now tight and the price has decreased.The contract has a three-month term.Discount from the landlord for six months.Prices for sales have gone up.The cost of renting has decreased.
According to a local observer in Sagaing, there is no guarantee for banknotes.Big-money tycoons consider the coup d’état to be a bargaining chip.
New plots were sold outside of Monywa under the NLD government’s land management policies, giving ordinary people access to their own homes.The land market, which had been stable before the coup, collapsed.
New plots were initially constructed and sold outside Monywa as needed.Many were able to save enough money to buy what they needed.50 lakhs.It is accessible to everyone, with a population of approximately 100.The real estate market stabilized following the coup.We observe this for two reasons.The first is financial uncertainty.Are dishonest individuals using their money to raise prices?In fact, the real estate market is doing extremely well.The compound, which was worth about 50 dollars before, is now worth about 150 dollars because of political instability.Land management, which was once accessible to all artisans, is now a market that ordinary people cannot afford due to city needs.That is the issue.
The Northwest Military Headquarters of the Military Council is located in Monywa, the capital of Sagaing Division.
The Northwest Command’s Military Council, which is influenced by the military, is in charge of controlling military violence in Sagaing Division.
In the Northwest Military District, the tactical committee is attempting to acquire military impact, yet the guerrilla arrangement of the nearby PDFs has not had the option to acquire the high ground.
According to analysts, businessmen’s speculation has caused a sharp rise in land prices due to political and military instability.