HA NOI — The Viet Nam Report Joint Stock Company (Viet Nam Report) yesterday released the results of its survey on 2011 housing market trends and demand in the capital city. In the survey, Viet Nam Report found that apartment and land remained the first choice for private investors and consumers. The company said about 47 per cent of consumers whose income was under VND20 million (US$950) per month wanted to buy an apartment, while an additional 26 per cent said they preferred housing and land. When being questioned about how they would source the money to buy a house, about 45 per cent of those questioned said they would ask a bank for loans, while another 25 per cent bought houses outright with their own money and 30 per cent said they planned to borrow money from other sources. In the survey, researchers found that there was a difference between people with income of under and over VND20 million per month. Higher earners said they would borrow up to 30-50 per cent of the … [Read more...] about Flats, land still best investment choices: survey
Survey when buying a house
He cited Thanh My Loi project land prices as an example. In 2007, land was some 40 million dong per square metre, while now it is 25-30 million dong. Similarly, land at Him Lam-Kenh Te project has dropped from 60 million dong per square metre to 35 million dong and land at Phu Xuan project has declined from 18 million dong to eight million. Real estate developers believe that prices are now low enough for people to afford houses and they also claim that prices will not decline further. They also point to many other positive conditions for people to purchase land and houses. Bank lending interest rates have decreased from 18-19 percent per annum to 14-15 percent.Financial experts believe that interest rates may decrease even further to 12-14 percent per annum. "For a long time, high interest rates were the biggest barrier, however, it has been decreasing," explained an analyst. "Therefore, now is the right time to purchase houses and land, a period when people can purchase houses at … [Read more...] about Is it time to buy a house?
Eight years ago Ho Chi Minh City had established a HCMC Housing Development Fund (HOF) to support low-income groups to purchase an affordable house, keeping in mind the high rates of inflation. However, even after eight years, around 55 per cent of teaching staff in Ho Chi Minh City have to live in rented houses, according to a survey conducted by Sai Gon Giai Phong Newspaper. Most of them are living in the suburban districts 9, 12, Thu Duc, Go Vap and Binh Chanh. Teacher Huynh Hai Ng, wishing to remain anonymous, of Lam Son Senior School in Go Vap District, said he used to hear about the fund that supports low-income earners like teachers in buying a house of their own. But when applying, each person was approved only VND400 million, a sum so small that it will not buy a house. According to the latest HOF report, it has just mobilised approximately VND1 trillion from sources over a period of eight years since it was established. However, recently the fund reported it has lost its … [Read more...] about HCMC Housing Development Fund, a hope for low-income groups
Saving remains a priority among Vietnamese consumers but many are increasingly keen to buy products and services they like. Upon returning from a holiday in Europe that cost her VND70 million ($3,140), which is an impossible dream for many young Vietnamese without help from their family, Ms. Le Thanh Thuy, a 26-year-old office worker who earns VND7 million ($310) a month, was proud to show some photos to her friends. "I had to save two-thirds of my salary for a year to make my dream come true," she replied when asked how she could afford the trip. On many online social forums in Vietnam are topics relating to saving money to buy a house, to travel overseas, or to buy a car when you’re on a mid-level salary. Vietnamese people are keen to save and also consume and the economic situation is now well and truly on the mend. Change in thinking The latest Asian Development Outlook Update 2015 from the Asian Development Bank (ADB) released on September 22 showed that … [Read more...] about Saving remains a priority among Vietnamese consumers
According to a census conducted on April 1 2009, HCMCity had 7.12 million people, an increase of 2.086 million or 41.4 percent compared to a decade ago, according to 22 percent of Vietnam's additional population during this period. Along with this, the city's population density rose to 3,400 people per one square kilometer, an average increase of 1,000 people per one square kilometer in comparison with ten years ago - 2,404 per one square kilometer. Nguyen Thi Hoa, the owner of a Pho restaurant, remarked: "I bought this house eight years ago. At that time, Quang Trung road was considered as an avenue of Go Vap district. Vehicles were few, so the road was spacious. Nowadays this road is always flooded by vehicles." Ward 12 in Go Vap district had the highest number of population in Vietnam in 2007, with more than 107,000 residents. After ward frontiers were restructured, Go Vap divided Ward 12 into four parts and merged each part into a new ward, including Wards, 8, 9, 12 and 14. … [Read more...] about HCM City population pressures housing, traffic, environment