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[2009-08-01] Houses worth over 600 million dong to be taxed
Houses worth over 600 million dong to be taxed
(Listed Jul 01, 2009)
Houses worth over 600 million dong will be taxed 0.03 percent per annum on the value in excess of the 600 million threshold instead of 0.05 percent as previously planned, the latest draft of the housing tax law stipulates. The Ministry of Finance, which is drafting the housing tax law, said that the draft document was open for opinions from 17 ministries and 41 provinces and cities for three months. Most of the ... |
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[2009-07-31] $7bil. scheme for Red River development moves to detailed planning stage
$7bil. scheme for Red River development moves to detailed planning stage
(Listed Jul 31, 2009)
Hanoi’s city government is asking the Prime Minister to authorize a visionary plan for development of the banks of the Red River from north of the airport bridge south to the Bat Trang pottery village. The costs would be financed by Korean private sources and development assistance funds. In South Korea, on July 29, Hanoi Mayor Nguyen The Thao and Seoul Mayor O See Hoon signed an agre... |
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[2009-07-31] Local players remain dominate in real estate
Local players remain dominate in real estate
(Listed Jul 31, 2009)
Local investors will continue to be the main players in the real estate market in the short and medium term, and will seek assets from foreigners looking to leave the market, an international conference heard on July 26. Managing director of CB Richard Ellis Vietnam Ltd Co, Marc Townsend, told the Vietnam International Real Estate Conference in Ho Chi Minh City that more real estate assets will be offered for the... |
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[2009-07-31] Hoa Hoi industrial zone kicked off
Hoa Hoi industrial zone kicked off
(Listed Jul 31, 2009)
The construction of the Hoa Hoi industrial zone was started by Hoa Hoi joint stock company in Cat Hanh commune, Phu Cat district, Binh Dinh province on July 29. The industrial zone, capitalised at VND441 billion, covers a total area of 265 hectares, of which the area for building plant occupies 185 hectares. As planned, the industrial zone will attract businesses in the fields of agro-forestry processing; mechanics, metallurgy,... |
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[2009-07-31] Deposit interest rates rising again
Deposit interest rates rising again
(Listed Jul 31, 2009)
After a short interruption of three weeks, deposit interest rates are now increasing again. Nearly ten banks have pushed interest rates up to levels higher than in early July and launched attractive promotion campaigns to attract more deposits. HD Bank, for example, has applied new interest rates since July 27 with the highest interest rate at 10.2 percent for 36-month term deposits. Saigon Bank raised the interest rate to 10 percen... |
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[2009-07-31] HCMC retail sites in short supply, no ceiling seen on development
HCMC retail sites in short supply, no ceiling seen on development
(Listed Jul 31, 2009)
Unlike the office leasing market, now quiet because of low demand, the leasing market for upscale store sites in Ho Chi Minh City has remained bouyant even in the economic downturn, reports the Saigon Economic Times.Urban consumers always ready to spend money Like their counterparts in the in big urban areas of other countries, Vietnamese consumers shop more and more at high grade shopping centres... |
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[2009-07-31] Renewal plan spurs apartment prices
Renewal plan spurs apartment prices
(Listed Jul 31, 2009)
Owners of old apartments in the capital city of Ha Noi have found themselves sitting on increasingly valuable pieces of real estate. Le Hoang Nam, the owner of a unit in a Giang Vo apartment block, wanted to sell his third-floor apartment to buy a new one but decided against it when he found out that the apartment block would soon be upgraded. "Last year, I intended to sell my apartment for VND850 million [US$47,000] but someone o... |
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[2009-07-31] Hotel business outlook remains dismal
Hotel business outlook remains dismal
(Listed Jul 31, 2009)
The downturn in global tourism and business travel continues to impact on hotels in HCMC as occupancy and room rates took a double-digit plunge in the second quarter. According to CB Richard Ellis Vietnam (CBRE), a market research company, five-star hotels in town went through the second quarter with average room occupancy at 45.5%, down 10.4 percentage points against the first quarter. The luxury hotels' room rates saw a q... |
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[2009-07-30] More luxury villas go on sale
More luxury villas go on sale
(Listed Jul 30, 2009)
Phu Long Real Estate Corporation yesterday launched sales of its Kim Long Luxury Villas property project which is under construction in HCMC's Nha Be District.The villa project is being developed on a 24-hectares site and is one of 14 facilities to be developed in a master project named Dragon City which covers some 65 hectares and includes office buildings, luxury condo projects and commercial centers. The Dragon City project requires ... |
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[2009-07-30] HCMC office rates fall; again
HCMC office rates fall; again
(Listed Jul 30, 2009)
Office rents in Ho Chi Minh City, the country’s financial and economic driver, continued their freefall in the second quarter of this year, a recent report from real estate service provider CB Richard Ellis (CBRE) Vietnam stated.The average rent on Grade A offices in HCMC in the second quarter of 2009 dropped 28.8 percent from the first quarter to US$40.8 per square meter a month, CBRE said in its quarterly report.Th... |
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[2009-07-30] Report reviews HCM city Hanoi Highway’s congestion
Report reviews HCM city Hanoi Highway’s congestion
(Listed Jul 30, 2009)
Ho Chi Minh City’s Hanoi highway is always congested and extremely polluted due to the constant flow of vehicles into and out of the city, said a recent report by the city’s Traffic Safety Board. A two-hour traffic jam occurred on July 28 at 7am in Rach Chiec Bridge to Saigon Bridge, with a large number of cars and motorbikes jammed.People living nearby suffer daily from exhaust fumes... |
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[2009-07-29] High-grade apartment oversupply forecast
High-grade apartment oversupply forecast
(Listed Jul 29, 2009)
While existing apartments priced at over $1,000 per square metre are selling very slowly due to low demand, a lot of new projects are still being marketed. Experts have warned that the massive investment in the market segment will lead to oversupply. A series of high-grade real estate projects in Hanoi and Da Nang have been started or launched onto the market recently. VinaCapital has announced the sale prices for villa... |
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[2009-07-29] Real estate market report (July 17th, 2009 – July 23th, 2009) “Fever” of low-price
Real estate market report (July 17th, 2009 – July 23th, 2009)
“Fever” of low-price houses
(Listed Jul 29, 2009)
It was recorded in July that high-end apartment and foundation land markets were quiet while transactions of houses and apartments from VND11 million to VND15 million per sqm increased. Nguyen Manh Ha, head of the Construction Ministry's Housing and Real Estate Market Management Bureau called it real demand of the market.Demands are still hugeAccordi... |
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[2009-07-29] Hanoi’s old condos inspected for quality
Hanoi’s old condos inspected for quality
(Listed Jul 29, 2009)
The Hanoi People’s Committee said Monday it was examining the Department of Construction’s petition for an estimated VND12 billion (US$674,000) for a safety inspection of 80 old apartment buildings.The committee had earlier listed 23 old condominiums and many apartment houses that should be rebuilt. It had requested that the city construction department make a proposal to the Ministry of Construction... |
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[2009-07-29] Lion reviewing Vietnam steel plant venture
Lion reviewing Vietnam steel plant venture
(Listed Jul 29, 2009)
Lion Group said its planned US$9.8 billion (RM34.59 billion) steel plant venture in Vietnam is being reviewed in light of the global financial crisis. "We are considering various aspects of the project and its implementation in view of the global financial crisis that has occurred since the project was initially proposed," the company said by e-mail. "This will require discussions with the Vietnamese authorities, f... |
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