"The number of expatriates coming to Viet Nam, primarily to HCMCity and Ha Noi, keeps on growing thanks to the country's strong economic growth, and greater amounts of foreign investment.There are more expatiriates coming for long-term work so most serviced apartments are fully occupied," he noted. Official figures have the expat population in HCMCity at around 50,000 persons, but unofficially it is estimated at around 75,000. In 2008 the figures are expected to rise between 25 to 35 per cent, bringing the population to over 100,000. "The supply gap has been temporarily filled by a number of apartments, which were originally built for sale. But after being sold, they have reappeared on the secondary market as apartments for lease by the owners seeking a rental return on investments," he explained. He added that individual owners of apartments and villas for rent helped narrow the demand-supply gap when institutional property owners failed to meet the growing demand for serviced … [Read more...] about Foreigner demand to drive up residential rental prices
With rental prices for office space falling, the commercial real estate market in Hanoi is showing signs of life. According to CBRE, during the first quarter of 2013, Hanoi's net absorption of office space increased to 16,000 square metres, a hefty 15 per cent higher compared to last year's first quarter when net take-up reached 14,000sqm. This number can be mainly attributed to the Grade B office market, which amounted to more than 10,000 sqm. Landlords of Grade B buildings in the West Hanoi have decreased their rents by 12 per cent quarter-on-quarter and by a staggering 29 per cent year-on-year. Decreases in rent clearly cut developers' revenue margins, but this strategy seems to be paying off as over 80,000sqm net has been absorbed in the past 12 months and this trend seems to stay intact for at least 2013. "The mindset that vacancy is costlier than leased space has evidently been adopted by the landlords in the West Hanoi," said Greg Ohan, director of office services at CBRE … [Read more...] about As prices fall, offices attract tenants
Officials and employees will have 4 days off for New Year 2013 and 9 days off for the Tet holidays. Knowing this, many people are planning to organize for their family to travel or visit homeland... after weary working days by hiring a self driven car. Nearly two weeks before New Year's Day 2013, the self drive car rental market has begun to heat. According to the companies, this service is becoming increasingly popular and blooming every Tet comes, Spring arrives. Last year, a lot of companies were able to lease all their cars and even "no cars to rent". This year, despite tough economic times, but the companies has signed many agreements for self drive rental in the upcoming holiday season. Car rental agreement To hire a self-drive car for family needs is fairly easy, however the rental agreement is a bit different depending on circumstances. The procedure of renting a car during Tet holidays is no different than usual, including identity card, car driving license, and a … [Read more...] about Kick-off self drive car rental service
A total of 269,554m2 will be used to build the Specialized Port of Guang Lian Steel Vietnam Company with the land rental price of VND 428,400 per m2 and VND 128,520 per m2 for water face land rental, according to the recent approval of Chairman of the PPC. Guang Lian Steel Vietnam will pay the land rental fee one time for 66 years of use. The provincial People's Committee allowed Guang Lian Steel Company to build the specialized port in communes of Binh Dong and Binh Thuan, Binh Son district. This is the forth specialized port at Dung Quat Economic Zone. Three other specialized ports are belonged to Dung Quat Shipbuilding Industry Company, Doosan Vina and Dung Quat Refinery. Minh Thien … [Read more...] about To approve the land use price for Guang Lian Steel Co.
According to a market survey on global office rental prices by the CB Richard Ellis Company, the western and central areas of London; 5 centre districts and 5 near by districts of Tokyo are most expensive places. Vietnam’s Ho Chi Minh City ranked 45 th among 50 markets with the highest office rental fees. The city is also included in the list of 14 markets worldwide with the most rapid rise in office rental prices; up by 33.3% within a year. The survey was based on statistics collected in the past 12 months. Conaught Place in central New Delhi (India) has just entered the list of the world‘s 10 most expensive places. Office rental fee is of US $104.02/ per square metre while Mumbai jumped to 5 th (from 7 th) with US $124.11/ per square metre. Manhattan is the most costly place in Northern America at US $62.27/ per square metre ranking 21 st in the list of the world’s most expensive markets. Abu Dhabi is leading the world with an increase of office rental fee by … [Read more...] about Ho Chi Minh City ranks 45 globally for most costly office rental