Potential Chinese real estate investors look at a display of United States property for sale at a property expo in Beijing Chinese nationals became the largest foreign buyers of US homes last year as they pour billions into American real estate, seeking safe offshore assets, according to a new study. A huge surge in Chinese buying of both residential and commercial real estate last year took their five-year investment total to more than $110 billion, according to the study from the Asia Society and Rosen Consulting Group. The sheer size of that total has helped the real estate market recover from the crash that began in 2006 and precipitated the 2008 economic crisis, they said. And despite a slowdown due to Beijing's clampdown on capital outflows, the figure for the second half of this decade is likely to double to $218 billion, the study said. "What makes China different and noteworthy is the combination of the high volume of investment (and) the breadth of its participation … [Read more...] about Chinese pouring billions into US real estate: study
Seattle real estate market
In Briefs (17-04-2009) Firms aim to tap into consumer loan market HA NOI — Societe Generale VietFinance Co Ltd opened its Ha Noi branch on Tuesday in a move to enhance its presence in Viet Nam. The company will provide consumer finance services, financing major consumer purchases such as motorbikes, home electronics and furniture without security. Monthly payments can be paid through a point-of-sale network set up with partner businesses. By offering such options, the company hoped to contribute to changing Vietnamese consumer habits, said general director Thien Nga Ngo Rocaboy during the opening ceremony. Construction begins on Vung Tau development BA RIA-VUNG TAU — Work on the VND800 billion (US$45 million) Bau Sen high-rise building project kicked off early this week in the southern province of Ba Ria - Vung Tau. Developed by the Urban Development and Construction Co (UDEC), the high-end development is being built on a total area of 10,000sq.m. Singapore bank opens … [Read more...] about Firms aim to tap into consumer loan market
Hanoi Times - Within the first decade after the 1975 end of the war, Vietnam's economy faced stagnation, with inflation hitting 700 percent in 1986 and a serious shortage of funds for investment. In that year, the Communist Party in its Sixth Congress approved a broad reform package, "Doi Moi" (or Renovation), that introduced market reforms and dramatically improved Vietnam's business climate. The country started shifting its central-planning economy based on the Soviet style toward a market-oriented mechanism.The country issued the law on foreign investment in Vietnam in 1987, which reaffirmed the market opening policy that provided a higher legal framework to help the country attract foreign investment.Over the past two decades ending in 2007, Vietnam has attracted $98 billion of foreign investment, of which operational projects totaled $83 billion. Foreign investment projects had yet to pick during the first three years of 1988-1990 since the law came into effect but the … [Read more...] about Vietnam-US economic cooperation
Aaron McConnell doesn't mind sharing a kitchen with seven neighbors. He's fine in living quarters with just enough room for a twin bed, a corner desk and little else. Closets? Forget about it - he stores his clothing and other possessions on shelves and hooks. It's also affordable for McConnell, 28, who pays $737 a month for his apartment in Seattle as he embarks on a career in civil engineering. Tiny apartments like McConnell's are cropping up in major cities around the country to meet the demand of people who are short on cash but determined to live in areas with otherwise pricey rents. Micros, also known as "hostel-style" apartments, usually offer less than 200 square feet (18.5 square meters) including private bathrooms, and they typically come furnished, sometimes with built-in beds and other amenities to save space. Most feature a group kitchen that may be shared among eight units, although units in McConnell's complex are equipped with microwave ovens and small … [Read more...] about Big city, tiny apartment: small-scale living is new trend in U.S.
Two springs ago, at Vietnam's not-quite-annual international coffee festival in Buon Ma Thuot, I was offered a small cup of premium "weasel coffee." This particular brew, you may have heard, begins with the selection of coffee berries by these critters. The weasels chew, swallow and digest the berries before passing the seeds - that is, the coffee beans. The weasels are said to be rather picky, choosing only perfectly ripened berries for this organic process. This happens in the wild - free-range coffee, you might say - but the Vietnamese entrepreneur I met was showing off some weasels in cages and introduced me to his "weasel hunter." With more weasels, he explained, he'd be able to have factory-style production of some of the priciest coffee on the planet. I took a sip and was not bowled over. Perhaps it's an acquired taste. At any rate, weasel coffee obviously requires a leap of faith. Could a certification process be trusted? Could a coffee connoisseur tell the provenance of a … [Read more...] about The Starbucking of Vietnam?