Gloom has set in in many localities including Bao Loc (the Central Highlands province of Lam Dong), Dac Nong, Binh Phuoc, Ba Ria-Vung Tau, and Binh Thuan, whose real estate markets used to be hot a few months ago.— Photo datxanhgiatrithuc.com Tran Trung Thanh, a real estate broker in Binh Thuan and Ba Ria-Vung Tau provinces, said since the beginning of April demand for agricultural lands has seen a sharp slump. The number of people who want to sell land is higher than those who want to buy, he said. Gloom has set in in many localities including Bao Loc (the Central Highlands province of Lam Dong), Dac Nong, Binh Phuoc, Ba Ria-Vung Tau, and Binh Thuan, whose real estate markets used to be hot a few months ago. Even the housing segment has shown signs of slowing down in many localities due to falling demand on both the primary and secondary markets. HCM City is a typical example. The country’s economic hub always has high demand for housing and faces a serious shortage of … [Read more...] about Real estate market slumps as banks cut off funds
Is caledon local 21 real
Real estate market slowing down, experts divided on bubble risk
Land split into lots for sale. The real estate market was slowing down on the tightening of credit flow into certain segments. — VNA/VNS Photo As moves are taken to control the credit flow into certain segments, while localities seek to tighten the land lot split, the real estate market could slow down, but experts remain divided on the risk of the bubble bursting. In recent years, land prices increased rapidly despite the impact of the COVID-19 pandemic. According to a report by the Department of Housing and Real Estate Market Management under the Ministry of Construction, land prices, especially in localities planning or developing infrastructure saw whopping increases. The moves to control credit flow into the real estate sector and land lot split were cooling the market, with falling liquidity but prices staying at high levels. A report by real estate portal batdongsan.com.vn showed that searches for property on sale via the portal in the first five months of this year … [Read more...] about Real estate market slowing down, experts divided on bubble risk
Hanoi to pilot real-time reporting system in Q3
The goal is to ensure a consistent reporting system from the grassroots to city-level agencies, which helps save time and cost for all parties involved. Hanoi is scheduled to pilot a real-time reporting system in the third quarter of this year, as the city looks to further enhance transparency and efficiency in state governance. Locals proceed with administrative procedures at the city's agencies. File photo. The move was revealed in the city’s plan No.173 on the development and management of Hanoi’s reporting system in the 2022-2025 period. In the first phase, Hanoi would start piloting the reporting system for socio-economic issues in several departments, units, districts, and wards in the city during the third quarter of this year. In the second phase (fourth quarter of 2022), the reporting system is set to be adopted by all units of the city’s apparatus, targeting 100% of socio-economic reports in the city delivered through the reporting system. In … [Read more...] about Hanoi to pilot real-time reporting system in Q3
The Local Game: Just what is going on with Nguyễn Quang Hải’s transfer?
Nguyễn Quang Hải’s next destination is still a mystery. Photo baogiaothong.vn Peter Cowan Who doesn’t love a good transfer saga? While it may feel like football is now a 24/7, 365 day a year sport, there are in fact lulls in the beautiful game’s calendar. Transfer intrigue can often be a great way to fill in the interminable gaps between real football matches but the saga centred around Vietnamese football at the minute is one I could do without. Nguyễn Quang Hải left Hà Nội FC back in April, ostensibly to sign for a European club, and yet as June draws to a close, he still remains unsigned. Over the past few months various outlets have reported that the pint-sized playmaker is close to signing with Austrian, Swiss and now French clubs. Hải has been linked with no less than four clubs in the latter country’s Ligue 2, with breathless reports noting that he has his visa and is only awaiting a medical checkup. Again, transfer sagas can be great … [Read more...] about The Local Game: Just what is going on with Nguyễn Quang Hải’s transfer?
EVN warns of electricity failure due to hot weather
The development of intensely hot weather on a large scale in the North and Central regions since mid-June has been causing the national electricity consumption to climb sharply. According to data from the National Load Dispatch Center, at noon on June 21, the national electricity consumption capacity exceeded 45,000 MW for the first time and set a new record high of 45,528 MW. In addition, the electricity consumption capacity of the North alone also hit a new record with a peak capacity of 22,330 MW at noon on June 21. According to the EVN, compared to the average level of the previous week, the peak capacity of the national power system on June 21 has increased by more than 6,500 MW. In the North alone, peak capacity has risen by more than 5,200 MW, or nearly 31% compared to the average of the previous week. Compared to the peak in 2021, the national electricity consumption capacity on June 21 is roughly 3,100 MW higher, and the Northern peak capacity is also nearly 1,400 MW higher. … [Read more...] about EVN warns of electricity failure due to hot weather
Ring road plan to transform market
Ring road plan to transform market - Illustrative photo (Source: VNA) The government has asked the National Assembly (NA) to consider and decide on the policy for investing in the ring roads to be located in the country’s two biggest cities. Tran The Anh, sales director of Thang Loi Group, said that the land fund in inner cities is increasingly exhausted and prices are high, with investors turning to suburban real estate. “There is a thirst for houses for those living and working in Ho Chi Minh City in particular,” The Anh said. “The shifting trend of investors and individual financiers is also creating a new vitality for the real estate market in the suburbs.” One of the issues discussed by NA delegates and experts is how to exploit the land fund around the two ring roads, which will soar in value. Already in many places, the price of land in the area has increased dozens of times over. “Because the two routes will open up a vast land fund, the management of auctions of … [Read more...] about Ring road plan to transform market
HCMC reviews land fund for construction of worker accommodation, social housing
At the meeting She made the state at a today meeting on the housing development program for the period 2016-2025 with the participation of Chairwoman of the People's Council Nguyen Thi Le and Chairman of the People's Committee Phan Van Mai. Speaking at the meeting, Director of the Department of Construction Tran Hoang Quan said that from 2016 to 2020, the floor area of the city increased by 53.7 million square meters. Self-built houses play the main role with an increase of 38.5 million square meters of floor space while commercial housing accounted for the second largest proportion, reaching 13.98 million square meters of floor and social housing increased by 1.23 million square meters of floor space. Regarding social housing, in the 2016-2020 period, Ho Chi Minh City completed and put into use 19 projects, with 1.23 million square meters of floor space, reaching 69.2 percent of the set target. In the first quarter of 2022, a social housing project has been completed and put … [Read more...] about HCMC reviews land fund for construction of worker accommodation, social housing
Global providers’ expansion plans make Hanoi coworking supply rise
The Vietnamese coworking market is growing exponentially as more and more people become aware of the benefits this niche brings from a business and productivity point of view. This year, Hanoi coworking supply is predicted to rise due to the continuing high demand as global providers will expand their locations in Vietnam during the next few years. According to a latest related report on Vietnam's office market, global providers The Hive and Compass offices stated their intention to expand businesses, seeking valuable consolidation opportunities and partnerships. One of Toong's coworking locations. Photo: Toong Numerous providers expand rapidly The Market Insight Report “Coworking & Flexible Workspace in Vietnam 2022” conducted by Acclime Vietnam supported by Knight Frank showed that as the market growth rate of flexible workspace develops sustainably, numerous providers have emerged in the sector and expanded rapidly. Alongside … [Read more...] about Global providers’ expansion plans make Hanoi coworking supply rise
☀️ Morning digest on June 22
Hanoi, (VNA) - The following is a list of selected news summaries last night by Vietnam News Agency. -President Nguyen Xuan Phuc and a delegation of National Assembly deputies in Ho Chi Minh City met with local voters on June 21 to inform them about the recent third session of the 15th legislature. The President said HCM City should adopt breakthrough policies, especially those driven towards scholars and intellectuals, and solutions to handle limitations in bidding and drug procurement, as well as the shortage of drugs and medical equipment. Read full story -Vietnam always attaches importance to promoting its traditional friendship and cooperation with Mozambique and regards the country as a key partner in Africa, Prime Minister Pham Minh Chinh affirmed at a meeting with President of the Mozambican Assembly Esperanca Laurinda Francisco Nhiuane Bias in Hanoi on June 21. He highlighted the positive development in the bilateral relations over the past time, especially in … [Read more...] about ☀️ Morning digest on June 22
Part 2: Vietnam Law of the Sea adds more legal basis to UNCLOS
An important legal framework On the basis of the United Nations Convention on the Law of the Sea (UNCLOS) 1982, the National Assembly of Vietnam passed the Vietnam Law of the Sea on June 21, 2012. The law started to officially take effect from January 1, 20213, serving as an important legal framework to regulate Vietnam’s relations at sea and oceans. Dr. Tran Cong Truc shared that the Vietnam Law of the Sea has 54 articles in seven chapters. There are four contents legalized in the law, namely the demarcation of sea areas and continental shelves and assertion of sovereignty over islands and archipelagos; activities in Vietnamese waters; marine economic development; and the management and protection of sea and islands. Article 1 of the Law of the Sea of Vietnam states, “This law provides regulations concerning the baseline, internal waters, territorial sea, contiguous zone, exclusive economic zone, continental shelf, islands, the Hoang Sa (Paracel) Islands, the Truong Sa … [Read more...] about Part 2: Vietnam Law of the Sea adds more legal basis to UNCLOS