August 15, 2024
The second auction for House No. 54, located on University Avenue Road in Bahan Township, Yangon, the residence of State Counsellor Daw Aung San Suu Kyi, has failed to attract any buyers, according to reports. The auction, held on August 15, 2024, ended without any bids.
The property, which has been at the center of a legal dispute, was put up for auction with a starting bid of 300 billion Kyats. Despite the attempt, no one came forward to place a bid, leading the auction to be declared unsuccessful by the court’s auction officer, who called for bids three times at the auction held in front of House No. 54.
The first auction, held on March 20, 2024, also failed to find a buyer, despite an initial asking price of 350 billion Kyats. Following this, a request to lower the price to 160 billion Kyats was submitted in May.
The second attempt, which took place on the morning of August 15, started with a price of 300 billion Kyats, but once again, no buyers emerged, resulting in another unsuccessful auction.
Photo – Wikimedia commons
