Sand dollar real estate

/ November 23, 2020

Hanoi real estate market to heat up by end-2020

The Hanoitimes - The performance of the real estate sector in Hanoi in the last three months of this year bodes well for 2021. After the first nine months of stagnation due to Covid-19, Hanoi's real estate market is expected to revive in the last quarter of this year, as local investors simultaneously launch a number of new projects to the market. Hanoi real estate market to heat up in remaining months of 2020. Some real estate experts said that the main reason for the heating of the real estate market of the capital was the recovery of the confidence of local investors thanks to the initial control of the epidemic. Such confidence faded due to the almost frozen market for fear of Covid-19 impacts and the superstitious business inertia of the seventh lunar month, also known as the Ghost month. About 9,800 apartments built by Ecopark, Vingroup, Bitexco, and Masteri will be on sale in the last three months of the year, including more than 500 apartments of S-Premium Sky Oasis project - a 5-star tower in Ecopark; more than 700 luxury apartments of the Bitexco-owned Maxtric One project; thousands of apartments of Masteri Waterfront Ocean Park project. In addition, the 6-month deposit rates of the four largest banks in the country fluctuate between only 3% and 4% per year. Low interest rates have led banks' cash flows to be strongly channeled into the real estate sector in a context of low lending rates. At the same time, the banks also cooperate with reputable developers to launch a series of attractive incentives for large projects with great liquidity. In addition to favorable market conditions, the end of this year is the time for real estate groups to fulfill their business targets. It is also the peak time for remittances from abroad to Vietnam. The Covid-19 pandemic has affected the economy and society, as well as people's behavior and housing needs. Local experts suggested that home buyers prefer greener architecture and a …

/ January 12, 2021

Real estate accounts for 7.6% of Vietnam economy

The Hanoitimes - Local experts list real estate the most important sector in many countries, including Vietnam. Real estate industry accounted for roughly 7.62% of Vietnam’s gross domestic product (GDP) in 2019, information has been released by the Vietnam National Real Estate Association (VNREA). Real estate sector becomes more important in Vietnam's economy. Photo: Pham Hung/Kinhtedothi The percentage is likely 13.6% if land is included, VNREA said in a research released last week. In terms of assets, real estate likely accounted for 20.8% of the total assets of Vietnam’s economy in 2020. The percentage is equivalent to US$205.26 billion out of the country’s total assets at US$986.82 billion in 2020. The ratio is forecast to reach 21.2% or US$462.7 billion in 2025 and 22% or US$1.23 trillion by 2030. The research, which is an independent scientific study, showed that real estate has impacted on 40 important economic sectors in Vietnam, mostly construction, manufacturing, tourism, lodging and restaurant, finance and banking. In terms of job attraction, real estate is just behind tourism and manufacturing and ahead of agriculture, forestry and aquaculture. Commenting the research, economist Vo Tri Thanh, member of the State Bank of Vietnam’s Financial and Monetary Policy Consultation Council, said it has prioritized policies that should be put into practice, greatly contributing to the healthy and sustainable development of real estate sector. Nguyen Manh Ha, deputy head of VNREA, emphasized the role of real estate in the country’s economy, listing it the most important industry in many countries. VNREA plans to submit the research and recommendations to the government, the Central Economic Commission, the National Assembly’s Economic Committee, the Ministry of Construction, the Ministry of Finance, the Ministry of Natural Resources and Environment, and related agencies for the long-term policy making toward real estate …

/ March 1, 2021

What makes Phu Quoc’s real estate attractive to investors?

The Hanoitimes - Population in Phu Quoc likely triples in 2030, resulting high demand for hospitality industry. The administration upgrading has made Phu Quoc the first island city in Vietnam, opening up an era for the locality equal in size to Singapore. The tourism-based island city is destination for upcoming real estate investment. Photo: Kiengiangtravel The move is considered a momentum for the island that is well-known for tourism, creating favorable conditions for the mushrooming of real estate projects, local experts have predicted. It triggers a question on how Phu Quoc’s real estate attractive to investors. The expertise might offer a broader view of the potential there. Dang Phuong Hang, managing director, CBRE Vietnam, said that real estate ecosystem models like hospitality will match the tourism-based island. The development of tourism will support the growth of three-pillar model namely hospitality real estate, entertainment, and high-end housing segment, she added. Phu Quoc’s real estate sector has significant room to grow thanks to youngling market, plenty of investment opportunities, and reasonable prices. In addition, well-equipped resort projects are expected to drive up the service prices. Enormous potential for real estate market is obviously seen in newly-established wards like Duong Dong and An Thoi, Hang said. "The city status will enable Phu Quoc to make master growth planning, including strategies for tourism industry. The city’s population is forecast to triple by 2030, forming elite groups that demand high-end services," Hang said. Nguyen Van Dinh, deputy general secretary of the Vietnam Real Estate Association (VNREA), said the three-pillar ecosystem [hospitality real estate/resort – entertainment – high-end housing segment] is the most suitable model for the island tourism city of Phu Quoc. Notably, the well-invested infrastructure and more convenient transport have fueled the increasing flows …