Many real estate firms have moved their investments to provinces where there are potentials and developments in infrastructure such as Dong Nai, Can Tho, Long An, Binh Dinh provinces and Da Nang city. Some even expanded investments to provinces in the north. Particularly, Nam Long Group, which used to successfully develop the affordable housing E-home projects as well as residential areas in Ho Chi Minh City, including Mizuki – Nguyen Son and Akari City, has expanded its business to the north and key economic zones in the south by buying three new land funds in Dong Nai Province and Hai Phong City this year. Phat Dat Real Estate Company also said that developing market in Ho Chi Minh City has been facing difficulties so it has a new strategy to focus on the market in the Central of Vietnam and legally-completed projects so as to put its products on sale as soon as possible. Similarly, last year, Novaland Group started to develop projects in neighboring provinces, including … [Read more...] about City-based real estate firms shift investments due to difficulties
Marketing real estate
Real estate experts believe that selling condotels can bring huge profits to investors and savings in fees that apartment developers usually pay. The first condotels appeared in Vietnam several years ago and have been developing very rapidly since then. According to the Ministry of Construction (MOC), there are 148 ongoing condotel projects developed by 52 investors. It is expected that 27,000-29,000 condotels will be launched into the market in 2017-2019. Despite the existence of numerous products, condotels have not been recognized by the law. Condotels remain out of the management of state agencies. Many investors, when advertising condotels, give unclear information which does not coincide with the purpose of projects approved by state management agencies. This has led to misunderstandings among buyers not knowledgeable about the law. However, in the last six months, ministries and branches have urged to legalize condotels. At the same time, condotel developers have been … [Read more...] about Why do real estate developers want to legalize condotels?
Vietnamese shares rose on Wednesday morning, boosted by the positive moves of real estate and rubber stocks. Property developers and rubber companies were among the best performers on Wednesday morning. - Photo thoibaonganhang.vn The benchmark VN Index on the HCM Stock Exchange advanced 0.66 per cent to close at 1,196.17 points. It fell 0.7 per cent on Tuesday. The HNX Index on the Ha Noi Stock Exchange edged up 0.35 per cent to end at 136.10 points, extending gains from a 0.2 per cent growth on Tuesday. The nearly 167 million shares were traded on the two local bourses, worth VND5.18 trillion (US$230.2 million). Property developers and rubber companies were among the best performers on Wednesday morning. The two sector indices gained 3.7 per cent and 2.4 per cent, data on vietstock.vn showed. The real estate sector was driven up by the strong gains of HCM City Infrastructure Investment JSC (CII) and Vingroup (VIC). CII soared 7 per cent after the company announced it would … [Read more...] about VN stocks advance on real estate, rubber firms
The sector recorded 1,226 firms new firms, a year-on-year increase of 32 percent. According to the State Bank of Vietnam, by 2017, the total outstanding loans in real estate exceeded VND 471 trillion (USD 20.72 billion), mostly for projects in urban zone construction and housing development, house repairing and business activities. Photo: vov.vn The credit package for real estate-related business activities and construction projects climbed 12.2 percent in 2017, up 12.2 percent year on year, 15.8 percent of the year’s total credit. The real estate market saw positive changes in all segments in 2017. In Hanoi and HCM City alone, there were 64,263 successful deals. A range of new products, such as condotels, officetels and hometels were developed, making the real estate market more attractive. Source: VNA … [Read more...] about Real estate lures most investment
Real estate lures most investment in first quarter (Source: VNA) HCM City (VNA) – Real estate lured investment of 79.2 trillion VND (3.48 billion USD) in the first quarter this year, accounting for 28.4 percent of total registered capital in the period, the highest of all sectors, the Ministry of Planning and Investment reported. The sector recorded 1,226 firms new firms, a year-on-year increase of 32 percent. According to the State Bank of Vietnam, by 2017, the total outstanding loans in real estate exceeded 471 trillion VND (20.72 billion USD), mostly for projects in urban zone construction and housing development, house repairing and business activities. The credit package for real estate-related business activities and construction projects climbed 12.2 percent in 2017, up 12.2 percent year on year, 15.8 percent of the year’s total credit. The real estate market saw positive changes in all segments in 2017. In Hanoi and HCM City alone, there were 64,263 successful … [Read more...] about Real estate lures most investment in first quarter