The Hanoitimes - A high-end resort at the coastal province of Quang Nam has received an order of 250 condotels from its partner to resell to South Korean buyers. Vietnam has seen an influx of South Koreans seeking to acquire real estate as the Southeast Asian country has become an attractive destination for investors and holidaymakers from the kimchi land, according to VnExpress. Phu My Hung urban area. Photo: Internet A representative of a coastal resort project in the central province of Quang Nam, which has 690 condotels and 90 villas, has tipped a well-known US real estate agency has place order to buy up to 300 products for resale. Of those 300, 250 condotels will be reserved for South Korean buyers who are interested resort products. What attracts South Korean buyers at this project is its prime location, great coastal landscape, exclusive design to suit the high-end segment, and, most fundamentally, the absence of Chinese tourists, a broker said. Industry … [Read more...] about South Korean investors eager to purchase real estate in Vietnam
The Hanoitimes - Mergers and acquisitions (M&As) in the real estate are expected to dominate Vietnam’s M&A market this year as both foreign and domestic investors have been showing their keen interest in the sector. Vietnam’s M&A market exceeded the US$10-billion landmark for the first time last year, a nine-fold increase against 2008, and continued to rise 55 percent year-on-year to reach US$3.55 billion in the first six months of this year. Investors are most interested in property projects in big cities or new urban areas A report of the Vietnam M&A Forum 2018 showed that real estate M&A deals ranked second last year, accounting for 27 percent of the country’s total M&A value. However, in the first six months of 2018, the sector rose to top position with a 66.75 percent share. The rise in the first six months of the year was attributed to the success of many major M&A deals. Right in January, the country’s M&A market … [Read more...] about Real estate sector forecast to top Vietnam’s M&A in 2018
The Hanoitimes - Hanoi real estate market is witnessing a strong shift from the inner city to the outskirts and beyond. Many areas on the outskirts of Hanoi have awaken up and emerged as new real estate spots thanks to the advantage of large land funds and more synchronized connectivity with the inner city. Ecopark urban area. Thriving market The Ecopark urban area, located in Hung Yen province adjacent to Hanoi, has attracted buyers becasue it spans on a large area and is well connected to the center of Hanoi through new brigdes across the Red river. Ecopark's real estate products are ussualy highly demanded, even at the time the local real estate market was in the doldrums. Representatives of Viet Hung Urban Development and Investment JSC, the investor of Ecopark, said that the attraction of Ecopark stems from not only the green design and synchronous infrastructure, but also from the varierty of products that range from low-cost to high-end and luxury. The … [Read more...] about Connectivity gives boost to Hanoi’s neighboring real estate
The Hanoitimes - The government has no specific regulations for maintenance and management of the condotel model which has seen a boom over the past several years. The Ministry of Construction should cooperate with the Ministry of Culture, Sports and Tourism to promulgate regulations on condotel to ensure investors' interests and help the tourism property industry to thrive in a sustainable manner, said Deputy Chairman of the Vietnam Real Estate Association Nguyen Manh Ha at a forum in Hanoi on August 4. Deputy Chairman of Vietnam Real Estate Association Nguyen Manh Ha. Photo: theLeader.vn The condotel model is similar to the serviced apartment or hotel apartment. In basic terms, an investor buys a condotel, a condominium in a hotel building, and then let the hotel owner exploit it as a normal hotel room. The profit is shared according to an agreement. However, the government until now has no specific regulations for maintenance, management or profit sharing of … [Read more...] about Regulations needed to ensure condotel investors’ rights: Assoc.
The Hanoitimes - Overseas remittances have been an important source of capital for the real estate sector, according to a representative of the State Bank of Vietnam (SBV). Over the last three years, overseas remittances to Ho Chi Minh City reached nearly US$5 billion per year, one fifth of which, equivalen to US$1 billion, poured into the real estate sector, VnExpress reported. Illustrative photo. Overseas remittances have been an important source of capital for the real estate sector, said Nguyen Hoang Minh, deputy director of the SBV-HCM City branch at a conference on the prospect of the sector on August 11. The amount of over US$1 billion per year is a major support for property developers and contributes positively to Ho Chi Minh City's economic development in particular, and of Vietnam in general, he added. Moreover, the credit structure of the real estate sector has been stable, according to Minh. In the first seven months this year, total … [Read more...] about Overseas remittances to HCMC real estate average US$1 billion annually