In Pictures: Booming Yangon - Al Jazeera English

In Pictures: Booming Yangon

As Myanmar's biggest city becomes more attractive to investors, the poor are squeezed by rising cost of living.

Brennan O'Connor |

Yangon, Myanmar - The commercial capital of Asia's second-poorest country is the sixth-most expensive city in southeast Asia.

Ever since the once-shuttered country opened up to foreign investors, aid groups and businessmen have clambered to gain a foothold in Yangon. The new arrivals have created a property shortage.

Affordable housing is being torn down, replaced by high-rise condominiums and office buildings. Rents have quadrupled in recent years, while local wages remain depressingly low for many.

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