The real estate market will continue to see strong demand in all sectors and supply will not be able to cater for that demand until 2010, says Marc Townsend, general director of property management firm CB Richard Ellis Viet Nam. According to Townsend, the current Ha Noi's Grade A and B office space is about 300,000 sq. m and monthly rents range between US$40-50 per sq. m. With office occupancy in Ha Noi and HCM City hovering around 100 per cent, monthly rents are expected to touch $65-70 per sq. m. The serviced apartment market also sees high occupancy rates with more expatriates coming to live in the country, said Townsend. This year Ha Noi will see the opening of two new buildings, Ascott and Frasers, which will bring a total of 463 apartments to the market at $30-45 per sq. m. With no new stock slated to open in HCM City, prices at established branded units will rise to $40-45 per sq. m. In the retail market, there are currently no new shopping malls expected in Ha Noi. The largest … [Read more...] about No end in sight for rising real estate demand
Rise real estate
Cash flow expected to go into real estate By Dinh Dung - The Saigon Times Daily Deputy Minister of Construction Nguyen Tran Nam (L) fi elds questions from members of Eurocham in HCMC on Saturday- Photo: Dinh Dung HCMC – No one can tell when the frozen property market starts to thaw, but given that deposit rates go down sharply, while other investment channels become less attractive, cash flow is expected to run into the real estate sector in the coming time, said a leader of the Ministry of Construction. People still keep a huge amount of money, estimated at US$25-40 billion, and part of the savings will flow into the property sector in the coming time, Deputy Minister Nguyen Tran Nam told European entrepreneurs in HCMC on Saturday. With the deposit rate ceiling slashed to 9% per year, savings is no longer an appealing investment channel. Meanwhile, the fact that gold and foreign currency channels are under strict control makes investors hesitant, said the deputy minister. In … [Read more...] about Cash flow expected to go into real estate
While property developers from Japan, Korea and other countries are holding off on investments in Vietnam, Singaporean developers are stepping up their involvement in this country. Singapore-based Keppel Land International Limited last week announced it had signed a joint-venture agreement with Tien Phuoc Company to develop an 11 hectare waterfront residential site for 175 villas along the Saigon river in Ho Chi Minh City. This is the second agreement Keppel Land has signed with Vietnamese partners this month. Ang Wee Gee, executive director and chief executive officer of Keppel Land International Limited, said the project would serve the growing middle class, “who have become more discerning in their choice of residences and where they set up their businesses”. Keppel Land previously entered into a joint venture with Tien Phuoc and another partner, Tran Thai, through its wholly-owned subsidiary Flemington Investment Pte Ltd to develop a residential area in District … [Read more...] about Singaporeans invest heavily in local real estate
Pham Nhat Vuong, head of real estate firm Vingroup, remained the richest Vietnamese this year in terms of stock assets. As of December 30, Vuong owned 168.5 million shares worth around VND16.68 trillion (US$797.1 million). … [Read more...] about Real estate mogul remains Vietnam’s richest person
Particularly, various commercial banks were praised for their efficient handling of bad debts, which provided momentum for the further growth of the stock market.Besides, a significant number of enterprises plan to increase charter capital as well as list on the stock market, which would in turn raise the supply of securities.To boot, blue-chip stocks continue to be the primary choice of investment funds, particularly overseas funds, because enterprises running effective operations are more likely to be trusted by foreign investors.Due to determinants such as the substantial investment demand and the appearance of FDI inflows into project development, the real estate market would potentially preserve the price stability enjoyed throughout 2018.The increasing supply in the real estate market remained unchanged during 2016-2017, leading led to excess supply by the end of 2017. This was particularly apparent in the high-end apartment segment.In addition, propelled by the steady demand for … [Read more...] about Real estate and stock markets to rise above market in 2018?