Hugo Slade Yin Myat Thwe Theint Theint Th win...serviced apartments are renting for approx. $800 per...

YA N G O NS E R V I C E D A P A R T M E N T

M A R K E T S N A P S H O T  FEBRUARY 2020

SUPPLY

As of February 2020, there was a total ofover 2176 rooms in Yangon’s existingserviced apartment stock. 

In 2021-2023, approximately 1580 roomsof serviced apartment stock are due tocome online. However, delays will likely seesome of this forecasted stock pushed to2024. 

Most notably at the Yoma Central, YComplex and Inno City will bring more than900  units onto the market.   

It is likely that rents will decrease as supplyincreases.

2013 2015 2017 2019

Year

0

1,000

2,000

3,000

No

. Un

its

avai

lab

le

Existing Stock

New Stock

DEMAND

Occupancy has decreased as new supply

has been built.

This  occupancy level is likely to decrease

further over the coming months as new

supply comes to the market.   

Condominiums offering full facilities are

now more available on the market at

affordable rents putting pressure on

service apartment occupancy and rental

rates.

76%

Avg Total Building OccupancyRate

RENT

For now, rents in serviced apartments

remain high. Small, one-bedroom

apartments, in the new middle range

serviced apartments are renting for

approx. $800 per month, and luxury

serviced apartments continue to charge

approx.$3500 plus per month.

Avg Rent Per Month

$3492 $1962$4571 $3436$5806 $4526

$8917 $7066

2014 2020Studio1 Bed

3 Bed4 Bed/

Penthouse

2 Bed$7086 $5844

Hugo SladeManaging Director

+ 95 (0) 942 1058 866

hugo.slade@sps-myanmar.com

CONTACT US

Theint Theint ThwinValuation&Research Manager

+95 (0) 95 026 722

theint.thwin@sps-myanmar.com

Yin Myat ThweSenior Leasing Manager

+95 (0) 997 1095 777

yinmyat.thwe@sps-myanmar.com

Sales & Leasing  I Valuation & Advisory I Market Research I Development Consultancy

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