A view of the Phu My Hung residential area in District 7, HCM City (Photo: VNA) Hanoi (VNA) – As the State Bank of Vietnam has tightened the control over real estate loans to ensure sustainable development of the market and safety of the banking sector, property transactions have fallen down in both Hanoi and Ho Chi Minh City in the first six months of the year, experts said at a recent meeting in Hanoi. Nearly 13,000 housing products were rolled out in the Hanoi market during January-June, as compared to 8,899 in total number of successful transactions, accounting for 76.05 percent and 68.9 percent of the amount the same time last year, respectively. However, the capital real estate market experienced a good absorption rate of 68.6 percent, particularly housing products were sold fast in the second quarter as the absorption rate reached 84.7 percent. Ho Chi Minh City had the same trend when it saw a fall in both housing supply and transactions in the period. More than … [Read more...] about Real estate transactions fall on tightened property loan control
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Only 10% of real estate brokers in Vietnam eligible to work
The Hanoitimes - Local experts claimed that well-trained and qualified brokers will help the real estate market transparent. Realtors could be fined for avoiding trade centers Foreign realty brokerage companies target Vietnamese market Statistics from the Vietnam Association of Realtors (VARS) showed that only 10%-12% of roughly 300,000 real estate brokers in Vietnam are eligible to do the work though the number of workers in this sector is on the rise. Illustrative photo The growth rate of real estate brokerage averages 15% annually in the last three years, resulting in the rising number of brokers, the Vietnam News Agency citied VARS. However, there is a fact that brokers sometimes are the cause of land fever in many localities, causing market turmoil. Moreover, spam messages and calls from real estate agents are making problems for the job and toxically affecting truly professional brokers. As the role of brokers is to bring convenience … [Read more...] about Only 10% of real estate brokers in Vietnam eligible to work
VN to boost professional real estate brokers
In the last three years, the growth of real estate brokerage in the market has averaged about 15 per cent per year. Photo baodauthau.vn HÀ NỘI Real estate brokerage plays an important role in the circulation of real estate products. The sustainable development of the property market depends on a variety of factors such as legal policy, management of authorities, operations of the businesses, as well as professionalism of brokerage teams. Therefore, real estate brokers need to have enough knowledge and skills to synthesise information about real estate associated with legal items and planning, as well as real estate values for buyers and sellers, said Đặng Hùng Võ, former Deputy Minister of Natural Resources and Environment. Statistics from the Vietnam Association of Realtors (VARS) showed that, out of about 300,000 real estate brokers in Việt Nam, only 30,000-35,000 are eligible to do the work, accounting … [Read more...] about VN to boost professional real estate brokers
Real estate brokers help balance market supply and demand
(VEN) - Participants of a recent seminar sponsored by the Ministry of Industry and Trade in coordination with the Vietnam National Real Estate Association (VNREA) said real estate brokers play an important role in balancing supply and demand in the property market. Many successful real estate transactions were implemented through licensed brokers Some 33,000 licensed real estate brokers operate in Vietnam. From 2014-2018, about 80 percent of successful real estate transactions in the country were accomplished through brokers, contributing significantly to minimizing inventories and helping the market develop on a stable and healthy basis. According to Le Dang Doanh, former Director of the Central Institute of Economic Management (CIEM), property market information needs to be made more transparent. Brokerage companies contribute to providing reliable, verified information to customers, he said. Real estate brokers need to improve their knowledge, professionalize … [Read more...] about Real estate brokers help balance market supply and demand
Real estate transactions to increase in Q4
The domestic real estate market in the fourth quarter of this year is forecast to see the strongest increase in transactions in the year, higher than the transaction volume in the same period of 2017. – Photo zing.vn The domestic real estate market in the fourth quarter of this year is forecast to see the strongest increase in transactions in the year, higher than the transaction volume in the same period of 2017. Nguyen Van Dinh, deputy chairman of the Viet Nam Real Estate Brokerage Association, made the prediction at the association’s press conference on reviewing real estate transactions in the domestic market in the third quarter of this year in Ha Noi on October 11. In the last quarter of this year, the domestic real estate market would receive many new products from real estate development projects nationwide. Prices of property products would increase slightly by 0.5 – 1 per cent compared to the third quarter, said Dinh. In the fourth quarter, the market will … [Read more...] about Real estate transactions to increase in Q4