A view of Ha Noi. Lack of information on real estate supply was blamed for land fevers and price manipulation practices. - VNA Photo Official sources said a pilot programme is underway to collect data from six chosen cities across the country, namely Ha Noi, HCM City, Da Nang, Hai Phong, Khanh Hoa and Can Tho. While the number may be few, the cities account for 80-90 per cent of the country’s total real estate transactions. The channel was created to address one of the glaring shortcomings of the real estate market to date – the lack of reliable and accurate information on real estate supply. While there are existing regulations that require real estate developers to file reports to the ministry and the association, they are rarely enforced, said Nguyen Tran Nam, VNREA’s President. The lack of reliable and accurate information on market supply made it very difficult for the Government, businesses, investors and real estate buyers to efficiently make long-term … [Read more...] about Official channel to feed real estate market with supply info
Asmr its free real estate
Leading experts sharing their views on preventing disputes between developers and residents at VIR and Venus Corporation’s seminar last week Vietnam is one of the countries enjoying the fastest pace of urban development in the world, with urbanisation at the end of 2019 estimated to sit at around 40 per cent. It is projected that in two decades’ time around 50 per cent of the country’s population will live in urban areas. The fast growth of the property market in the recent past has enabled thousands of apartment units to be launched every year, giving rise to the industry of operation and management of such properties, through hundreds of domestic and international services providers. The fast increase of the property market has, however, also been causing much conflict among related sides such as property developers, residents, and operators which put professional management and operation skills in ever higher demand. According to the Ministry of Construction … [Read more...] about Common grounds in urban disputes
A huge increase in the condotel segment over the last five years has hastened the implementation of new regulations, Photo: Le Toan At the discussions of the National Assembly held last week, Minister of Construction Pham Hong Ha said the standards and regulations on management and operation of condotels and officetels would be issued within 2019, to avoid any negative impacts on the new segment. “Local authorities cannot manage thousands of condotels without a legal framework,” Ha claimed at last week’s meeting in Hanoi, adding: “We have worked with the Ministry of Natural Resources and Environment to review regulations on land use in order to consider giving ownership for this type of property, since it has not been included in any regulations so far.” The Ministry of Construction (MoC) is now co-ordinating with the ministries of Culture, Sports and Tourism, as well as Natural Resources and Environment, along with local authorities to issue the … [Read more...] about Condotel legal framework imminent
Heated hospitality segment for M&As (illustration photo, source: internet) Figures released from real estate consultancy JLL this month have revealed that Asia Pacific’s hotel transaction volumes are expected to increase from 25 to 30 per cent on-year, to more than $11 billion in 2019. Vietnam in particular has become an alluring destination for many financiers, largely due to the country’s friendly policies encouraging foreign direct investment, along with its political stability and strong economy. Furthermore, the country has taken the initiative to improve transparency to the next level, according to JLL’s Global Real Estate Transparency Index freshly released. As a result, Vietnam remains one of the most favoured destinations for foreign investment in the region. The Vietnamese hotel transaction market has shown exciting signs this year. Notable successful transactions in 2019 alone include The Grand Ho Tram Strip resort, which has been sold to Warburg … [Read more...] about Heated hospitality segment for M&As
Since issuing corporate bonds has become easy thanks to open regulations, it is necessary to tighten control over bond issuance. According to Saigon Securities Incorporated (SSI), VND129.016 trillion worth of corporate bonds were offered to sell in the first eight months of the year and 90.08 percent was sold. VND22.664 trillion, or 61 percent of bonds, were sold to domestic investors. However, it’s unclear who the ‘domestic investors’ are. Meanwhile, bonds cannot sell to individual investors who don’t have deep knowledge about the market. The analysts blamed the hot corporate bond market on the easy requirements stipulated in Decree 163. Hai Linh Anonymous foreign investor buys entire batch of Phu My Hung bonds Phu My Hung Development Corporation has mobilised VND800 billion ($34.78 million) for real estate projects from a "secret" foreign investor through bond sales. Vietnam’s bond market continues growth Vietnam’s … [Read more...] about Is the corporate bond market too hot?