Myanmar junta's third auction of Suu Kyi's mansion fails to attract bids

Myanmar's junta made a third unsuccessful attempt to auction Aung San Suu Kyi's lakeside mansion, with no bids received despite a minimum asking price of $140 million. The property has significant historical value, as Suu Kyi was held under house arrest there for nearly 15 years, and it has become a symbol of her struggle against military rule. The auction, conducted by junta-appointed officials, faced challenges due to the ongoing civil war and the country's shattered economy, which has left potential buyers uncertain about investing in such an expensive property. Previous attempts to sell the house in March and August 2022 also failed, and the current asking price was slightly reduced from previous auctions. Real estate experts suggest comparable properties in Yangon are valued at only $1 to $2 million, raising questions about the feasibility of selling the mansion at the set price. Suu Kyi remains detained following the military coup in February 2021 and is serving a lengthy prison sentence on charges widely regarded as politically motivated.