Volkswagen buyers

The CEO of a real estate exchange in HCMC’s District 5 said: "In the past we could sell one house for every 10 inquiries, but now it takes 30 to sell one. Many just take a look, but are not willing to buy." With townhouses in HCMC costing VND15-20 billion ($639,000-$852,000), they are hard to sell because of high bank lending interest rates, which make prospective buyers hesitate to borrow. The same situation is also seen in provinces such as Long An and Dong Nai, where there is little interest in houses and villas. Projects going on sale in April were offered at 8-10% discount. Some even offered discounts of up to 20% along with a guarantee they will rent the property for 12 months. Chau, a real estate broker with 10 years’ experience in HCMC and Dong Nai, said not only the primary market but also the secondary market was dull. Even when sellers offer to reduce the price by 15-25% in desperation, buyers do not budge, he said. Vo Hong Thang, R&D deputy director of … [Read more...] about Houses fail to attract buyers despite price cuts in southern market

On April 3, 2023, the Government issued Decree No. 10/2023/ND-CP on amending and supplementing several decrees guiding the Land Law implementation from May 20. — Photo chinhphu.vn Buyers of condotels, officetels and resort villas will have ownership certificates from May 20 under a new decree guiding the Land Law implementation. Owners of condotel apartments who fully satisfy the conditions under the land law, construction law and the law on real estate business shall be granted a certificate of ownership of land-attached construction facilities according to the commercial or service land area purpose. On April 3, 2023, the Government issued Decree No. 10/2023/ND-CP on amending and supplementing several decrees guiding the Land Law implementation from May 20. The land use term shall comply with provisions of Clause 3 Article 126 and Clause 1 Article 128 of the Land Law. Owners of construction facilities shall take responsibility before the law for fully satisfying conditions … [Read more...] about Condotels, officetels get ownership certificates from May 20

Vietnam's Prime Minister Pham Minh Chinh has just unveiled plans to embark on a groundbreaking initiative that involves piloting and advancing the development of a direct power purchase agreement (DPPA) framework between renewable energy producers and consumers in Vietnam. During a meeting held on May 19 with Fujimoto Masayoshi, CEO of Sojitz Corporation, on the sidelines of the expanded G7 Summit in Japan, discussions revolved around the potential for expanding investments in Vietnam's industrial parks and renewable energy sectors. Masayoshi emphasised Sojitz's keen interest in exploring opportunities for broader investments in these domains. A growing number of prominent Japanese businesses are actively considering expanding their production capacities in Vietnam or relocating their manufacturing operations to the country. Masayoshi proposed that Vietnam should expedite the implementation of a DPPA mechanism, enabling industrial plants to actively participate it. Such a move … [Read more...] about Vietnam to explore direct power purchase agreements in renewable sector

Vehicles at Kim Thanh International Border Gate in the northern mountainous province of Lao Cai.(Photo chinhphu.vn) Hanoi (VNS/VNA) - The quantity of Vietnamese agricultural goods exported to China via border gates in the northern mountainous province of Lao Cai has witnessed a significant upswing this year, surpassing figures from previous years. The newfound export surge can be attributed to China's recent modifications in its COVID-19 prevention policies, leaving farmers in a state of anticipation. Vang Kim Sinh, a farmer of Tan Tien Hamlet, Trinh Tuong commune, Bat Xat district said he and his neighbours have shifted to plant bananas instead of cassava to earn a living in recent years. The technique of growing bananas is simple, bringing higher income than growing cassava, he said. He said since the beginning of this year he has sent several containers of bananas through Kim Thanh International Border Gate. One container contains about 3,300 boxes of bananas, he … [Read more...] about Farmers look to capitalise on increased agricultural product exports to China

The newfound export surge can be attributed to China's recent modifications in its COVID-19 prevention policies, leaving farmers in a state of anticipation. Vang Kim Sinh, a farmer of Tan Tien hamlet, Trinh Tuong commune, Bat Xat district said he and his neighbors have shifted to plant bananas instead of cassava to earn a living in recent years. The technique of growing bananas is simple, bringing higher income than growing cassava, he said. He said since the beginning of this year he has sent several containers of bananas through Kim Thanh International Border Gate. One container contains about 3,300 boxes of bananas, he said. He said that the price of bananas, which are exported to China, is more than doubled that of bananas he sells to the domestic market. When China closed its door due to the pandemic, he said that bananas from the commune were only sold domestically with the highest price of VND 3,000 (USD 0.12) per kg. Now, he said the bananas had been exported to … [Read more...] about Farmers look to capitalize on increased agricultural product exports to China

Malaysia came second from bottom in terms of negative growth, down 29% year-on-year. Thailand saw shipments drop 1%, according to market research company Counterpoint. The five main Southeast Asian markets, including Indonesia and the Philippines, saw an overall drop in shipments of 13%. Smartphone sales in five main Southeast Asian markets. Photo courtesy of Counterpoint Consumer sentiment has not fully recovered in Vietnam, said Counterpoint analyst Glen Cardoza. Inflation in Southeast Asia has affected buyer sentiment, leading to a decrease in demand for new phones, he added. A report by another market research company showed that 2.5 million smartphones were sold in Vietnam in the first two months, down 30% year-on-year. "This year, people started to tighten their spending right from January," said a representative of a smartphone retail chain. Cardoza said that another reason for the first quarter decline was that Vietnam had received a large number of … [Read more...] about Smartphone exports to Vietnam plunge in deepest fall in Southeast Asia

Under a draft report submitted to the National Assembly (NA) Standing Committee, the government has suggested that more new fiscal policies, especially on taxes and fees, be soon designed and enacted to assist enterprises and labourers, therefrom helping to ensure macroeconomic stability and social security. The report will be discussed by the NA over the next few weeks before specific solutions are crafted. Short-term policy support complementing 2025 targets, Photo Le Toan “There will be more solutions to help the public and enterprises have access to bank loans at favourable rates,” the report stated. “In addition, the government will continue to drastically and effectively implement already-promulgated solutions to support enterprises and production and business activities such as Resolution No.58/NQ-CP on policies and solutions to support enterprises to adapt, recover, and develop sustainably towards 2025.” Under Resolution 58, the government requested the … [Read more...] about Short-term policy support complementing 2025 targets

Condotel Movenpick Phu Quoc in Kiên Giang Province. Photo wikiland.vn Hanoi - Buyers of condotels, officetels and resort villas will have ownership certificates from May 20 under a new decree guiding the Land Law implementation. Owners of condotel apartments who fully satisfy the conditions under the land law, construction law and the law on real estate business shall be granted a certificate of ownership of land-attached construction facilities according to the commercial or service land area purpose. On April 3, 2023, the Government issued Decree No. 10/2023/ND-CP on amending and supplementing several decrees guiding the Land Law implementation from May 20. The land use term shall comply with provisions of Clause 3 Article 126 and Clause 1 Article 128 of the Land Law. Owners of construction facilities shall take responsibility before the law for fully satisfying conditions prescribed by the construction law and the law on real estate business. The ownership term of the … [Read more...] about Condotels, officetels get ownership certificates from May 20

A range of projects across sectors have been given the go-ahead to crack on with development, photo Le Toan Nguyen Duc The, a private investor involved in real estate for many years, said that at present the market was in a strong phase, with choices for both buyers and sellers. Besides those who have had to leave the industry, there are also many who stayed due to good management of resources. “Many investors have turned away from high-risk products such as land plots or agricultural land in suburban areas to safer products such as town houses and apartments. They evaluate products not only in terms of cash flow, but also expect the ability to increase prices of each type. Products that serve real needs are in the sights of investors,” The said. Despite the difficult market, many investors with a solid financial background have not hesitated to launch new products with flexible payment policies such as splitting payments terms, interest support and big discounts to woo … [Read more...] about Prospects pick up within real estate market

The Ref 96 Quantieme Lune timepiece, which boasts a crown-like moon phase, originally belonged to Aisin-Gioro Puyi, the final monarch of the Chinese Qing dynasty. Emperor at the age of two in 1908, Puyi was immortalized by Bernardo Bertolucci's Oscar-winning film "The Last Emperor," but left a mixed legacy. More than 20 years after being forced to abdicate, he was installed as the puppet leader of Japanese-occupied Manchuria, before he was captured in 1945 after the fall of Japan and taken to a Soviet prison camp. British auction house Phillips said it had documentation that showed Puyi had brought the watch with him to the camp. It was expected to fetch about $3 million but, after about five minutes of spirited bidding, it was sold for HK$40 million ($5.1 million). With the buyer's premium fee, the total price came to about $6.2 million. Thomas Perazzi, Phillips' head of watches in Asia, said he was "thrilled with this groundbreaking sale" because it set records. Those … [Read more...] about Watch owned by China’s last emperor sells for $6 million