Savills

Savills Vietnam has launched a new property management system to connect developers and residents. — Photo baoxaydung.com.vnViet Nam News HCM CITY — Property consultancy Savills Vietnam on Thursday launched the Savills Property Management System (SPMS), a new technology platform connecting property investors and managers to house buyers. Developed by experienced experts of Savills, SPMS is an official and direct communication channel between developers and residents. The new software is expected to set a new standard in property management and address the needs of residents, ensuring the smooth operation of buildings. At the launch event in HCM City, general director of Savills Vietnam Neil MacGregor said the SPMS will open a new door for technology application in the real estate sector and property management in particular. The mobile application offers immediate and personalised responses to requests and demands via an automated system. Providing a clear line of … [Read more...] about Savills Vietnam launches property management software

Prices of Grade A offices in the capital have been forecast to rise over the next three years due to low supply (Photo: VNA) Hanoi (VNS/VNA) - Prices of Grade A offices in the capital have been forecast to rise over the next three years by seven percent annually due to low supply. Do Thu Hang, Director of the Research and Consultancy Department at Savills, Hanoi, said Grade A offices accounted for 28 percent of the total supply of 1.8 million sq.m2 of office rentals in the city. Currently, Grade A office rental costs are 31 USD per sq.m per month on average. Some offices in the inner city cost 35 USD.  “It is the highest price in seven years,” Hang said, adding that in the high-end office catalogue, Hanoi ranked fourth in terms of capacity and third in terms of rental prices in the country. While high-end office space attracts 60 percent of foreign tenants thanks to strong developments in FDI and M&As in Vietnam, there are not many … [Read more...] about Prices of Grade A office space rise due to low supply

Positive signs have been seen in Vietnam’s condotel arena after more than two years of downturn as consumption in the third quarter of this year was reported at 86 per cent compared to less than 40 per cent in the same period of 2018. There are bright spots for condotels but legal advances are a must to ensure stability Nguyen Minh Tu just bought a condotel unit at the Peninsular Nha Trang project with investment of VND1.4 billion ($60,900). The Hanoian wanted a condotel for lease, and Nha Trang was chosen by her and her family. Tu now is receiving rental yield of around 8 per cent annually and she is satisfied with the figure. In the past, buyers required almost the entire lease for their apartments. Condotels, meanwhile, have not been regulated in any policy from the government, and therefore their lifespan was limited to 50 years only. The lack of a legal system brought a downturn in the market, but now many people aim to buy condotels for leasing regardless of the … [Read more...] about Condotels in Vietnam look to legal framework for revival

Global startups are using their technology and experience to transform Vietnam's budget hotel market. A budget hotel in HCM City. The Singapore-based hotel management and booking platform RedDoorz announced in mid-August it had successfully raised $70 million in a Series C funding round. The four-year-old startup, which has raised $140 million to date, aims to expand its budget accommodation network in Southeast Asia. The new funds will help it compete with its rival, the SoftBank-backed OYO Hotels & Homes, another leading budget hotel aggregator and who is planning an investment of over $50 million in Vietnam over the next few years, as part of its ongoing Southeast Asia expansion spree. Both fast-growing players, along with some other local competitors in the sector, have been gearing up in a race to spread their franchising networks for online budget hotel services around the country. New arrivals Entering Vietnam in July last year, RedDoorz now has more than 100 hotel … [Read more...] about Budget hotels moving up

Vietnam is particularly ­appealing to Asian ­investors and homebuyers Since 2015 when Vietnam legalised foreign property ownership, the market has been receiving increasing interest from foreign buyers, specifically Asian investors taking advantage of the bargain price compared to the rest of the continent. Henri Limyuen, a 36-year-old from the Philippines, told VIR that he is looking for a suitable apartment to buy in Ho Chi Minh City. Limyuen was visiting a launching ceremony of the Rome Residential project which is located in District 2. He said he has worked and lived across different Asian countries, and Vietnam is a top destination of his in terms of purchasing a home. “I think the regulations to permit foreigners to buy a house in Vietnam are open, and I see an opportunity for a good house here at a much cheaper price compared to other neighbouring countries,” he said. Limyuen added that the price of homes in Vietnam still remains lower than those in … [Read more...] about Strong demand for high-end property