Property

Experts have said improving the transparency of the real estate market is critical to prevent inflated prices and ensure stable development. In 2018, the property market saw ‘price fever’ in several localities, especially those with potential for tourism growth and those expected to be developed into special administrative economic units like Van Don in Quang Ninh Province and Phu Quoc in Kien Giang Province, where buyers grabbed property with hopes for significant returns. When the National Assembly voted to delay the passing of the Law on Special Administrative and Economic Units –and when local authorities ordered a halt to land transitions – the price hikes in Van Don and Phu Quoc cooled off. Nguyen Van Dinh, deputy president of the Viet Nam Association of Real Estate brokers, said this was a necessary “pause” for the real estate markets in these two hot areas to return to stability. Dinh added that market transparency there also needed to be … [Read more...] about Market transparency key to stable real estate development

The central city’s construction department has listed 17 commercial housing projects that allow foreigners to own homes, including eight in Son Tra peninsula and six in the downtown Hai Chau district. The department made an official announcement on Thursday, stating that these projects were built as trading centres, condotel complexes and apartments. It said foreigners will be given ownership certificates when buying apartments or houses at the Lapaz Tower apartment; the Han River side 34-storey Aruza, Hoang Anh Gia Lai Lake View; Da Nang Plaza; FPT City, An Vien residential Zone and Harmony apartment tower. Other projects, including Blooming Tower, Golden Square complex; the Summit Son Tra View; Thuy Tu Urban, Green Hoa Binh Da Nang Complex; the Monarchy; Garden Tower apartment; P.A condotel tower are already available for foreign buyers and investors. The department also announced that three projects – F-Home apartment, Da Nang Diamond tower and Indochina Riverside tower … [Read more...] about Foreigners allowed house ownership in Da Nang

Downtown condo development ban may cause monopolyBy Le Anh An aerial view of the downtown area of HCMC - PHOTO: THANH HOA HCMC - The HCMC government’s decision to stop licensing new multistorey apartment building projects in Districts 1 and 3 until 2020 could result in a monopoly among the few investors in projects currently under construction, paving the way for them to raise the prices of apartments, according to the HCMC Real Estate Association (HoREA). HCMC currently has more than 8,500 high-end apartments, accounting for 30% of the total, while low-cost ones make up only 24.7%, with nearly 7,000 units. This means that there is an imbalance in HCMC’s housing market. A balanced housing market should have the largest proportion of low-end apartments and the smallest proportion of apartments in the high-end segment. HoREA forecast a shortage of homes for low-income people but an abundant supply of high-end apartments. Investors in luxury apartments will have to … [Read more...] about Downtown condo development ban may cause monopoly

The Peak – the crowning jewel of Phu My Hung Midtown – consists of two blocks (M8A and M8B) connected by a garden and a central waterfront. M8B was launched before in November and December 2018 with 338 units. M8A is going to be launched for sale with 698 units from 72 to 292 square metres from two to three bedrooms and tophouses. M8A is the most prestigious building of The Peak which directly looks over the nearby river and Sakura Park. Phu My Hung Development Corporation's leader introduces The Peak According to Norihiko Kudo, an architect from Kyta Architects Company and the project's designer, the developers and designers wanted to create something very special for The Peak. Meanwhile, Truong Quoc Hung, deputy general director of Phu My Hung Development Corporation, said that this project was not only the culmination of the developers and architects’ knowledge and experiences but is a result of their great enthusiasm and love for this project. “We … [Read more...] about Phu My Hung introduced The Peak phase 2, the last component of Midtown

Foreign investors increasingly keen on industrial land in VietnamBy Vu Dung Land in industrial parks is expected to attract heavy investment this year - PHOTO: THUY DUNG HANOI – Foreign firms’ demand for land in industrial parks in Vietnam has risen in recent years, and the segment is forecast to be the highlight of the local real estate sector this year. In recent months, multiple companies have asked for land rent rates in DEEP C Industrial Zones in Haiphong City, said Hans Kerstens, director of international business development at the cluster. Last year, the number of firms wishing to lease land at the cluster doubled the figure recorded in 2017. Local industrial land is attractive to firms from South Korea, Japan, China, the United States and Europe, Kerstens added. He said that foreign firms tend to invest in the ASEAN region when they have plans to expand their operations, and Vietnam is one of their first choices. The demand for industrial land in Vietnam … [Read more...] about Foreign investors increasingly keen on industrial land in Vietnam