Myanmar is formerly known as Burma. It is a southeast Asian nation with more than 100 ethenic groups, Bangladesh, bordering India, Laos, China, and Thailand. Its largest city is Yangon which is formerly known as Rangoon.
The city is home to numerous lakes, parks, bustling markets, gilded Shwedagon Pagoda, and towering. The Pagoda contains Buddhist relics.
To travel and ex-pats, Myanmar is one of the safest countries. Its crime rate is low. You can enjoy a low living cost and natural beauty, and rich history by living here. The living cost of Myanmar is 49.46% lower than the living cost of the United States.
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Estimated Cost For Building A New House In Myanmar
After the Covid-19 pandemic, the labor cost and material costs increase significantly. There is an increase in the price of land also. $11,800 to $13,500 can be the cost of land to build a house.
The bamboo house is the traditional house segment in Myanmar. To make the wall of this bamboo house, the house owner makes the plaited section of bamboo from the flattened bamboo pieces.
The floors of this kind of house are made up of wood or bamboo planks. Various materials cover the roof, including palm fronds and broad-leafed grass.
These are the kind of houses used by people with lower income. But the wealthier people used to live in houses with tile roofs and concrete bases, which is quite sturdy. These kinds of houses are called mahogany homes.
Cost to build a bamboo house in Myanmar
The house owner has two so-called extremes when building a bamboo house. First, the owner has to hire a designer to manage the bamboo house process, and it takes at least one day.
The cost could be about $70. You don’t have to buy big land to make a bamboo house. But if you want to add extra rooms to your house, you can add on more than one module next to each other and join them.
Depending upon the building techniques and material quality and quantity, the cost of a legit bamboo house can be made. For example, $10,800 can be the lowest budget for a two-story bamboo house, and it goes high as $200,100 because the bamboo used is prime quality.
Cost of a concrete house in Myanmar
In Myanmar, many people prefer concrete to build their houses. You can use concrete in the form of precast panels, concrete blocks, removable forms, and insulating concrete forms.
The cost of concrete naturally influences (increases) the overall budget. $200,000 can be the approximate cost to build a 1,730 square foot concrete house. While you build a concrete house, you have to remember that 20% to 25% of the budget can be saved on heating and cooling costs.
See also:
Rules for foreigners to buy or build a house in Myanmar
In Myanmar, it is not permitted to purchase land from foreigners; if you are a real estate investor, you have to apply for a leasehold of 70 years with a MIC permit (Myanmar investment commission). This permit is not appropriate for the larger investment, and you can’t also buy small plots or individual apartments through this permission.
If you want to build a house and live in Myanmar, you have to become a resident of this country.
Influencing Factors That Can Affect The Cost of Building a House
Construction material cost
The construction cost includes the taxes, cost of shipping, and the cost of raw materials. According to the project’s site, the price of these three factors may vary. The size of the project plays a crucial cost-affecting role. The more raw material will be needed in the more significant project and vice-versa.
Site of the construction
The project site can heavily influence the construction cost of the building project. The site’s conditions, such as pipes, poor soil, archaeological site, uneven land, environmentally hazardous spaces, and water bodies could increase the whole budget. So they must cover the construction expenses essentially.
Cost of labors
State to state, the cost of labor varies. In some places, the laborers charge per hour, and in some other places, they charge daily. So it isn’t easy to understand labor norms and the estimated cost.
Quality of your plans
The quality of the project massively influences the construction cost. The construction cost is considerably impacted by the project quality, whether you decide to keep it simple or plan not to corporate the modem amenities. High-quality raw materials are necessary for high-quality building projects.
Insurance and regulator requirements
It is very time-consuming and costly to approve the authorities of the regulatory department. The home insurance cost is a crucial cost influencing factor that can blow your budget.
Size of the project
More materials and a large workforce are required for a large size project. Therefore, depending on the size of the project, the building cost could differ enormously. For example, a 5000 square feet house will entail a higher development cost than a 1000 square feet house.
Delayed construction
The speed of a building project also impacted the cost of construction. The stipulated budget may be severely affected by the construction delay because of some unforeseen situations. Some of the problems are –
- Equipment rent may be increases
- There could be an extension of construction securities, bonds, and insurance
- The cost of materials could be an increase
- As the materials can’t be left open, you have to store them. There is a chase of an increase in raw material storage.
Conclusion
The country Myanmar offers arable land and natural resources. The people of this country are motivated and skilled. Its political and economic society is capable of changing the situation. The handicraft, food processing, aquaculture, and agriculture market is so good, and it provides an income source. So if you want to build a house and settle in this country with your family, it is a good decision.
