Banks in deal to support real estate market Hung Le By Hung Le - The Saigon Times Daily HCMC - Eight banks have entered into an important cooperation deal to provide financial support for property developers, contractors and building material suppliers in an effort to reduce high inventories in the building material and real estate sectors. The cooperation deal was signed on Wednesday by the Bank for Investment and Development of Vietnam (BIDV), the Vietnam Bank for Agriculture and Rural Development (Agribank), the Bank for Foreign Trade of Vietnam (Vietcombank), the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Mekong Delta Housing Development Bank (MHBank), the Vietnam Construction Bank (VNCB), Saigon-Hanoi Bank (SHB) and Lienvietpostbank. BIDV is the lead institution in the group in implementing the deal with the property developers, contractors and building material suppliers. According to the credit department of the central bank, the cooperation … [Read more...] about Banks in deal to support real estate market
Real estate leads generation
Real estate sector stabilizing
Real estate sector stabilizing (29-11-2005) Deputy Minister of Natural Resources and Environment Dang Hung Vo spoke about future real estate market developments with Kinh te Viet Nam va The gioi (ECONET). Given that the real estate market is currently flat, do you agree with those who feel that land speculation will always be profitable? Those who speculate that land prices never fall are mistaken. Given my responsibilities, I will strive to reduce land prices to reasonable levels while ensuring that speculative activities do not endanger market stability in the future. The real estate market is quite stale now because few are willing to develop land and property when prices are falling. As a result, market supply remains relatively flat and property prices continue to edge lower. The real estate market has been negatively influenced by many artificial factors which create virtual demand. However, the market valuation mechanism is becoming clearer since real estate speculation is … [Read more...] about Real estate sector stabilizing
Buyers advised rational behavior in real estate market
As the real estate sector warms up and anxiety rises about inflationary prices, Deputy Minister of Construction Nguyen Tran Nam says buyers should rely on professional advice and not bank on market rumors. "After a long freeze [over the past year], the number of property transactions and prices have edged up. It is inevitable," Nam told Thanh Nien in a recent interview. He said the real estate market recovery is backed by high housing needs and signs that the economy has bottomed out. "Demand for housing is strong and there is still a big gap between demand and supply," Nam said. "In Vietnam, the per capita housing area is 12 square meters while it is 30 square meters in other countries." Markets of soft-price apartments and land for construction projects in Ho Chi Minh City and Hanoi have been heating up in recent weeks. Immediately after the Dat Xanh Real Estate Service and Construction Corporation launched the first phase of its Babylon Residence project in HCMC's Thu Duc District … [Read more...] about Buyers advised rational behavior in real estate market
Indochina Land’s real estate projects resist sluggish market
Since the start of 2010, Vietnam's property market has steadily improved on par with the continued expansion of the economy, as the trajectory of the domestic real estate market is linked to that of the economy. With brighter economic outlooks onshore and off, Vietnam's commercial and residential property sectors have experienced positive momentum, a trend that is forecasted to continue through the New Year. Peter Ryder, CEO of Indochina Capital said: "We have seen an uptick in residential sales across the portfolio, and expect total sales volumes to reach approximately $40 million for the year. For our operating assets, we have recorded stronger occupancy and rental performance throughout the portfolio, which includes commercial retail, office, resort and serviced apartment properties, with new leases being signed, existing tenants expanding their footprint and higher occupancies at our operating resorts." Peter also said that throughout the year, the firm has achieved several … [Read more...] about Indochina Land’s real estate projects resist sluggish market
Real estate bubble – the accessory to inflation
VietNamNet Bridge - The real estate bubble is the accessory to inflation, and it should be considered as the "dangerous germ" which must not be allowed to live together with a healthy economy. Living on virtual values … [Read more...] about Real estate bubble – the accessory to inflation