The Hanoitimes - Hanoi is pulling in expanding levels of investment from large multinational technology firms. Why is Vietnam's real estate a magnet for international investors? (P.2) Why is Vietnam's real estate a magnet for international investors? (P.1) More reforms urged to encourage foreign investment in Vietnam’s real estate market Hanoi real estate market ends up 2018 with bright picture Foreign investment fuels industrial real estate in Vietnam Hanoi is listed the third in JLL’s City Momentum Index (CMI), indicating a highest level of socio-economic and commercial real estate dynamism. Part of Hanoi. Photo: Internet The CMI, which measures momentum for 131 of the world's most commercially active cities, identifies the urban economies and real estate markets which are currently undergoing the most rapid growth. Hanoi, behind Indian cities Bengaluru and Hyderabad, has strong links to the technology and innovation … [Read more...] about Hanoi ranks 3rd most global dynamic real estate city: JLL
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HCM City real estate market lopsided, unsustainable: HoREA
The HCM City housing market showed signs of unsustainability in 2018 due to an imbalance between supply and demand. — Photo cafeland The HCM City housing market showed signs of unsustainability in 2018 due to an imbalance between supply and demand, a property industry business group said. In a review of the market in 2018 and forecasts for 2019, the HCM City Real Estate Association (HoREA) said there was excess supply in the high-end segment, it said. While low-end condos accounted for only 24.7 per cent of total supply, the high end accounted for 30 per cent. The association’s chairman, Le Hoang Chau, said this made the market top-heavy and unstable, explaining there is equilibrium only when the low-priced segment is the most dominant followed by the mid-priced segment and then the high-end segment. In 2018 there was a shortage of housing for low-income people, he said. But he assured that a bubble was not forming and there has in fact been a slowdown in new projects, … [Read more...] about HCM City real estate market lopsided, unsustainable: HoREA
Real estate poised for positive 2019
Vietnam continues its rapid development with a slew of new property types springing up in recent years, Photo: Le Toan According to the Foreign Investment Agency under the Ministry of Planning and Investment, real estate business ranked second in size since early this year, with total registered capital of $6.5 billion in 87 new registered projects. “With foreign direct investment (FDI) being funneled into the real estate sector, Vietnam remains an attractive destination for real estate investment in 2019 and beyond. It is because the demand for residential real estate, industrial zone infrastructure, trade centres, and resort real estate remains high,” said Nguyen Tran Nam, chairman of the Vietnam Real Estate Association. According to the country’s housing development strategy, the average housing area of the nation will reach 25 square metres per capita by 2020. To achieve this goal, 100 million sq.m of new housing will be built each year, 70 per cent of which … [Read more...] about Real estate poised for positive 2019
Over USD216 million of FDI capital poured into HCM city real estate
Photo for illustration Specifically, the capital pouring in the real estate market was from Japan, the Republic of Korea, Singapore, the US and China. As of the end of 2017, the city has had 7,372 FDI projects with a total capital of nearly USD45 billion. FDI has created a force of strong joint venture businesses such as Phu My Hung Joint Venture Company, Nam Long Company in coordination with Hankyu Hanshin Toho Group and Nishi Nippon Railroad (Japan), Tien Phuoc, Tran Thai in coordination with Keppel Land (Singapore), Tien Phat in association with Sanyo Home (Japan), and An Gia in association with Creed Group (Japan). Together with FDI attraction, the real estate market also absorbed overseas remittances. The country’s average remittances reached around USD10 billion a year, in which the southern city makes up about 50% with some 21% investing in real estate. According to the association, the rapid growth in the FDI capital source was due to change in policy and law which … [Read more...] about Over USD216 million of FDI capital poured into HCM city real estate
Tight credit cools City real estate
With banks tightening credit to the property sector the HCM City market is cooling off, traders said. — Photo plo.vn With banks tightening credit to the property sector the HCM City market is cooling off, traders said. In District 9 for instance, unlike a month ago, many people are offering to sell their lands but cannot find buyers. The offers are much higher than bids, a broker said. Huu Tin, a broker from Binh Tan District, told Nguoi Lao Dong (The Labourer) newspaper there have been no transactions for a week. He has a 50sq.m house on Do Nang Te Street for sale for VND4 billion (US$175,000), but there are no takers, he said. Even recently everything on offer was being snapped up immediately, he said. Le Thi Hong Tham of District 7 told Viet Nam News she invested VND1.7 billion ($74,5000) to buy a piece of land near Long Hau Industrial Zone in Long An Province just off HCM City and sell it immediately. “Earlier, land could be re-sold within three or four days of buying. … [Read more...] about Tight credit cools City real estate