Colliers International has said that greater demand from ex-pats for affordable accommodation will bring greater competition to the market for serviced apartments in Yangon towards more affordable developments.

Advice to developers is to target the demand for limited service and mid-tier developments among expatriate singles and couples.

Currently, low- to mid-tier serviced apartments represented 16% of total supply, and of 13 serviced apartment projects in the pipeline, only two were considered to be mid-tier. Average occupancy rates were 91.6% but expected to fall once completion of two developments add a further 486 units to the market.

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