The Hanoitimes - In 2018, only 23% of luxury homes were sold to locals, outpaced by Chinese, while South Koreans and Hong Kong (China) residents followed closely behind. Vietnam real estate market most attractive in Southeast Asia: Japan investors FDI boosts Vietnam’s industrial real estate in 2018 Vietnam emerged as hot new market for luxury property: Bloomberg Property investment lending in Vietnam set to be tightened from 2019 To the Chinese investors, Vietnam’s market for luxury departments, particularly in Ho Chi Minh City, prove irresistible, Bloomberg reported. Ever since Vietnam allowed foreigners to own apartments in July 2015, its luxury housing sector has been on a tear, stated Bloomberg. Luxury home prices soared 17% in 2018, while the rest of the residential market stayed largely flat, Dung Duong, a research analyst at real estate service firm CBRE told Bloomberg. In the same year, only 23% of luxury homes were sold to locals, … [Read more...] about Vietnam’s market for luxury departments appeal to Chinese investors
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The Hanoitimes - Vietnam is well on the way to become Asia’s next tiger with strong economic growth, a rapidly growing middle class and relatively affordable pricing. Vietnam’s prime segment to see strong demand in 2019 as more foreign investors come Is it time to invest in Vietnam’s prime homes? A latest Savills research showed that Vietnam’s prime residential segment is of great attention in comparison with regional markets like Tokyo, Singapore, Taipei, and Bangkok. Illustrative photo Apartment prices in HCM City and Hanoi are generally still lower than regional peers such as Kuala Lumpur and Bangkok, making Vietnam relatively attractive to international investors, according to Savills Vietnam. “New home prices in Ho Chi Minh City’s CBD now average around US$5,500-US$ 6,500/sq.m, a fraction of the eye watering levels seen in Hong Kong where prices are at all-time highs,” said Neil Macgregor, managing … [Read more...] about How attractive is Vietnam’s luxury residential segment amid global slowing trend?
Who are the owners of luxury apartments in District 1? A view of The Grand Manhattan, a luxury apartment project in downtown HCMC The just-launched Grand Manhattan has become the center of splendor due to its luxury apartments being located in downtown HCMC, which are not easy to own. From international investors Elena Goh, a Singaporean real estate investor, is one of the first owners of apartments at The Grand Manhattan, “HCMC is a market my husband has eyed for ages. So we decided to purchase apartments as soon as the project was introduced to the market. Compared with other property markets which I have invested into such as Hong Kong, apartments in HCMC have a much lower price and profit margins reach 4%-5%, compared to Hong Kong’s 1%-2%.” As an experienced real estate investor, Elena Goh said, “In Hong Kong and Singapore, profit growth of luxury properties tend to be stable. I believe that profits from real estate projects in HCMC, which is an … [Read more...] about Who are the owners of luxury apartments in District 1?
Chief operating officer Michael Piro Congratulations on your 20-year milestone in developing high-end real estate projects in Vietnam. How would you evaluate your achievements so far in the country? Spearheaded by our CEO Peter Ryder, we have established ourselves as one of the premier real estate developers in Vietnam, highlighted by our beach resort developments: Four Seasons The Nam Hai, Six Senses Con Dao, and Hyatt Regency Danang. These properties were truly revolutionary and the first of their kind back when we opened them. Since then, there have been many new entrants into the market, and I truly believe that we paved the way for other luxury developments in Vietnam. In 2016, we entered into a joint venture with Japan’s largest overseas developer, Kajima Corporation, forming Indochina Kajima. This will be the vehicle that will drive our presence in the market in the coming years, and we are extremely excited to be working alongside our Japanese partners. We may not have … [Read more...] about A builder of novelties
Maurizio Sarri made a winning start as the new manager of Chelsea by defeating Perth Glory 1-0 in a friendly on Monday (Jul 23). Players from both sides shake hands at the end of the football friendly match between Chelsea and Perth Glory at Optus stadium in Perth, Australia. (Greg Wood/AFP) The Italian, who replaced countryman Antonio Conte earlier this month, was without his team's World Cup stars in front of a sell-out crowd of 60,000 at the new Perth Stadium. The Blues were still far too good for the home side - themselves playing their first game under new manager Tony Popovic - just weeks out from their Premier League season opener on Aug 11 against Huddersfield. The Blues asserted their dominance early when Pedro scored in the fifth minute, and totally dominated the match for the most part, likely leaving Sarri wondering how they did not find the back of the net many more times. With both sides in different stages of their pre-season preparations, Glory were under … [Read more...] about Winning start for Sarri as Chelsea down Perth Glory