Steering in real estate

State Bank of Vietnam (SBV) has asked credit institutions to limit their lending to the real estate and construction sectors to better control bad debts (Photo: vietnamfinance.vn)   Hanoi (VNA) - The State Bank of Vietnam (SBV) has asked credit institutions to limit their lending to the real estate and construction sectors to better control bad debts. Under Document 563/NHNN-TTGSNH issued recently, SBV asked lenders to avoid too much focus on real estate customers and maintain credit growth in the sectors within safe limits. The institutions must keep a close watch on lending to the sectors, continuously review and assess the progress of realty projects and their developers’ financial condition, particularly as it relates to their collateral assets, and have measures in place to handle any defaults, SBV said in the document. Besides evaluating and processing lending applications with scrutiny, the institutions must also monitor borrowers to ensure that they refrain from … [Read more...] about Central bank urges property lending caution

Vietnamese Consul General to Fukuoka Nguyen Phuong Hong addresses the investment promotion workshop on April 10 (Photo: VNA) Fukuoka (VNA) – Many Japanese investors still lack information about Vietnam’s real estate market, heard an investment promotion workshop held by TMS Group in Fukuoka prefecture of Japan on April 10. Sumio Hara, Chairman and General Director of the So Kikaku Sekkei construction design company, told the Vietnam News Agency that to Japanese people, Vietnam is a leading investment destination in Southeast Asia. However, he hasn’t known much about the property market in Vietnam.  If more detailed information about the market is provided like through this workshop, the Vietnamese market will possibly become the top destination for Japanese property investors, he stressed. Addressing the event, Vietnamese Consul General to Fukuoka Nguyen Phuong Hong said her office is ready to support enterprises in the Kyushu region, in which the prefecture … [Read more...] about Japanese investors need more information about VN’s property market

Property Land ownership for foreigners in Vietnam By Dang Hung Vo Sunday,  Dec 15, 2019,09:00 (GMT+7) Land ownership for foreigners in VietnamBy Dang Hung Vo Foreigners in Vietnam can buy houses, including apartments and houses attached with land. Their homeownership right is valid for 50 years, and can be extended for another 50 years if needed – PHOTO: THANH HOA The policy on allowing foreigners to own houses associated with land in Vietnam has been studied and considered very carefully. In 2003, the author of this article, in the capacity as a leader of the Ministry of Natural Resources and Environment, attended a meeting at the top decision-making level to consider the issue of this policy attached to the 2005 Housing Law. The conclusion of the meeting was that at that time, it was impossible to allow foreign individuals and organizations to own houses associated with land under any form in Vietnam. In view of … [Read more...] about Land ownership for foreigners in Vietnam

ICC-Kajima Development Co. aims to build on the success of its founders and their impressive track record Indochina Capital and Kajima Corporation are equal partners in this joint venture, with total investment capital estimated to eclipse $1 billion over the next decade. The aim of this new joint venture, according to Peter Ryder, founder and chief executive officer of Indochina Capital, is to build on the success and impressive track record of the two companies, by developing quality and innovative real estate projects throughout Vietnam. “Our goal is to build on our track record as Vietnam’s leading high-end real estate developer. We will continue to promote our vision of sophistication and luxury,” Ryder said. “We have a clear strategy that addresses the current and future demand of the market, with a focus on delivering accommodation-themed projects, while maintaining our unwavering commitment to architectural excellence, environmental sustainability, … [Read more...] about Indochina Capital teams up with Kajima Corporation

New values in demand for living space Homebuyers growing picky There are big changes in homebuyers’ demands nowadays. If location and pricing were the top factors in the past, now comfort also plays a decisive role. This has required developers to scale up investment into ensuring living space and the comfort of their projects. Late last year, a string of projects introduced by some major developers in Ho Chi Minh City, albeit carrying high price tags, could still garner a great deal of attention from homebuyers. Saigon Mystery Villas on Bat Nan Road (District 2) by Hung Thinh Corporation consists of 12 attached house blocs and two villa complexes covering nearly 15 hectares. Despite its fairly high price averaging VND100 million ($4,500) per square metre, more than 70 per cent of the products put on offer have found owners in a short time. Huy, a homebuyer at the project, said that the project perfectly fit his requirements despite the high price tag. Besides its proximity to … [Read more...] about New values in demand for living space