VinaCapital’s flagship fund the Vietnam Opportunity Fund (VOF) and Dragon Capital last month announced they spent $21 million acquiring a 25 per cent stake in the Century Land JSC (CenLand), one of Vietnam’s leading real estate brokerages and the leader in the northern region. CenLand has focused on traditional sales channels since 2002, with its popular real estate supermarket system STDA, and has developed its online brokerage platform Nghemoigioi.vn over the last two years. Online channels contributed to the surging number of the company’s transactions in 2017, at 11,555, an increase of 20 per cent against 2016, thanks to real estate support technology. “Online real estate has seen impressive growth of more than 60 per cent over the last three years and is expected to continue growing into the future,” said Ms. Le Hoang Uyen Vy, General Partner at ESP Capital. Fertile ground In line with Vietnam’s burgeoning real estate … [Read more...] about Online real estate brokerage gaining acceptance
Online real estate
Viet Nam's real estate sector has had a good year, despite the global economic downturn. Experts said the property and stock markets, as well as the banking and finance sector had been profitable but were vulnerable to global economic changes. Vneconomy, Vietnam Economic Times' online publication, highlighted the top ten developments of 2009. 1. Because of the global economic crisis, the Vietnamese property market was expected to decline in 2009. In a bid to ease the problem, the Ministry of Construction submitted several possible solutions to the Government, which included allowing investors tax exemption. However, its suggestions proved controversial. Many said the ministry should focus on dealing with the reasons behind the market's decline, not concentrate on trying to save it.2. In the middle of April, the Vietnamese Government, for the first time, promulgated a social housing resolution after a long period of consultation. However, many experts in the construction sector said is … [Read more...] about Top ten real estate stories of 2009
Savills Viet Nam, a company specialising in real estate services, will release its report today on Ha Nois real estate market for the first quarter of this year. The report will include information about apartments for sale, serviced apartments, hotels and retail space. Viet Nam News reporter Hoang Ha talked with Matthew Powell, Ha Noi Branch Director of Savills Viet Nam, about growth of the market. How did the domestic property market develop in the first quarter of this year? Where were the hot places in the market? During the first quarter of 2010, we have witnessed a steady growth in the domestic property market. Viet Nams economy is showing signals of recovery and is expected to recover in the 2010-11 period, which will partly contribute to the development of the real estate market. After the Prime Ministers recent decision to close all gold trading floors, some investors may switch to the property market. Apartments for sale market: The Q1 2010 primary market contributed 1,816 … [Read more...] about Ha Noi real estate market grows in Q1
Hanoi Times - It is necessary to create a package of measures to activate the real estate market in order to spur the national economy, according to Associate Prof Dr Tran Hoang Ngan, Dean of the Banking Faculty under the HCM City Economics University, and member of the National Advisory Council for Finance and Monetary Policies. He said: When the monetary policies were tightened, the real estate market became stagnant. The demand for accommodations has been annulled because of overly high interest rates. People still cannot purchase houses though real estate prices are decreasing because of overly high interest rates, hovering around 20% per annum. Moreover, banks do not have much medium- and long-term capital to lend people to purchase houses by installment. The State Bank of Vietnam is trying to reduce interest rates, and it needs some more time to do that. If the situation improves, it will reduce compulsory reserves, which will help banks have more capital to fund real estate … [Read more...] about It’s necessary to restart real estate market: expert
The Hanoi Times - Real estate investors have been continuously crying for help recently as the prolonged frozen market has pushed them into the red. However, experts have pointed out that those who need to be rescued now are the low incomer earners who cannot afford accommodation rather than the real estate developers. Real estate developers have proposed a lot of measures to rescue them from incurring losses when the prices keep decreasing. They have urged banks to push up loaning and urged the state to set up assistance funds. They have also asked to use the idle capital of healthcare and social insurance funds to rescue the real estate market. Is real estate market really freezing? According to the HCM City Branch of the State Bank of Vietnam, the outstanding loans to the real estate sector by local banks have reached VND 61 trillion, accounting for 15% of the total outstanding loans in the locality. By the end of October 2008, HCMCity had still had 151 unfinished real estate … [Read more...] about Real estate market: who needs to be rescued?