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[2009-11-17] Economists predict end to property tax perks
Economists predict end to property tax perks
(Listed Nove 17, 2009)
Some tightening of tax rules surrounding property is inevitable, ANZ economists say. In ANZ's weekly Market Focus newsletter, they said that while prices in the housing market may be up, volumes and average days to sell had stabilised in the past few months. That signified a market that had responded to policy support, but was stabilising and not being driven to excess, Market Focus said. But it also pointed to comments from t... |
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[2009-11-17] Beijing office market reports a welcome rebound
Beijing office market reports a welcome rebound
(Listed Nove 17, 2009)
Beijing's office market saw a steady recovery in the third quarter, with the demand from large domestic firms remaining strong and that from the multinational companies picking up as the global economy revives. The recovery in the office market, which is reflected in the falling vacancy rate and stabilizing rent, is powerful evidence for the resurgent economy, experts said. According to Jones Lang LaSalle (JLL), an internat... |
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[2009-11-17] Foundations laid for stunning property growth
Foundations laid for stunning property growth
(Listed Nove 17, 2009)
The real estate market has been robust with most advances in the retail and residential segments. VIR’s Bich Ngoc talks with Andrew Brown, country head of real estate consultant Jones Lang LaSalle Vietnam, about his market assessment. What is your assessment of the local real estate market in the last few months?There has been improving sentiment and confidence helped by some positive economic news with industrial pro... |
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[2009-11-17] Profit-hungry buyers send market into frenzy
Profit-hungry buyers send market into frenzy
(Listed Nove 17, 2009)
Housing prices in Hanoi are skyrocketing on traders’ predictions of hefty profits. Two weeks ago, thousands of people scrambled for the rights to buy apartments at the Nam Cuong Group backed-Le Van Luong Residentials condo high-rise project in the Duong Noi new urban area.The reason for the rush was because the investor had announced that customers could get direct contact with its sales office to buy homes at “ori... |
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[2009-11-17] Few people buying into luxury home expo
Few people buying into luxury home expo
(Listed Nove 17, 2009)
A showcase of luxury Beijing properties aimed at the country's most wealthy inhabitants has so far failed to draw the crowds organizers hoped for. The four-day Beijing International Top Property and Luxury Show kicked off on Thursday at the Beijing World Trade Center, the capital's financial hub and home to a mall selling luxury goods. The show featured high-end homes with price tags of at least 30,000 yuan ($4,777) per sq m. But ... |
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[2009-11-17] VND 3 trillion for expanding southern traffic artery
VND 3 trillion for expanding southern traffic artery
(Listed Nove 17, 2009)
A contract on the expansion of the National Highway 51 worth VND 3.3 trillion (US$184.8 million) was signed in Hanoi on November 12 by the Vietnam Road Department and the Bien Hoa-Vung Tau Expressway Development Joint Stock Co (BVEC). Under the contract, the 72.7 kilometre road section, linking from the two southern provinces of Dong Nai and Ba Ria-Vung Tau, will be expanded to 32.9 metres in width to accommodate six m... |
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[2009-11-17] Ha Noi’s real estate prices rise by 20%
Ha Noi’s real estate prices rise by 20%
(Listed Nove 17, 2009)
Real estate in several areas of the capital city has seen 20-30 per cent increases in the last month. Those affected include newly incorporated areas in expanded Ha Noi such as Ha Dong, Tu Liem and Thanh Tri. Price of real estate in the areas was equal to or even higher than that in the inner city’s districts, said Dao Minh Thuy from the Ha Dong’s Long Thuy Property Brokerage Company. Thuy said that a square metre... |
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[2009-11-16] First steel trading floor aims for clarity in ambiguous market
First steel trading floor aims for clarity in ambiguous market
(Listed Nove 16, 2009)
Vietnam’s first steel trading floor will open next month as organizers hope to stabilize the volatile market with increased transparency. The Saigon Thuong Tin Commodity Exchange Company (Sacom-STE), an affiliate of Sacombank Group, will use VND200 billion (US$11 million) in investment from the lender to develop infrastructure and facilities for the floor. Sacombank Chairman Dang Van Thanh said the stee... |
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[2009-11-16] Beijing central city home price near 20,000 yuan per sq m
Beijing central city home price near 20,000 yuan per sq m
(Listed Nove 16, 2009)
Home price in the central parts of China's capital has kept climbing to approach the psychologically-important mark of 20,000 yuan (2,930 U. S. dollars) per square meter, official figures showed. Home price stood at 19,750 yuan per sq m on average for apartments within Beijing's fourth ring road by the end of last month, according to the municipal Bureau of Statistics on Friday. Areas within the fifth ring roads a... |
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[2009-11-16] New Zealand property prices reach all-time high
New Zealand property prices reach all-time high
(Listed Nove 16, 2009)
The national median house price has attained its highest ever level, passing the $352,000 reached in November 2007. Real Estate Institute of New Zealand (REINZ) figures published today put the national median house price in October at $355,000, nearly 6 per cent higher than a year earlier and $5000 higher than September. That takes the national median to its highest ever level, $3000 above the mark reached in November... |
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[2009-11-16] U.S. realtors say tax credit spurred home sales
U.S. realtors say tax credit spurred home sales
(Listed Nove 16, 2009)
The percentage of homes bought in the United States by first-time buyers rose significantly in the year through June, helped by a popular $8,000 tax credit, the National Association of Realtors said on Friday. About 47 percent of all sales were made by first-time homebuyers in the twelve months through June, up from 41 percent in the 2008 period, the group said, citing a survey of 120,000 homebuyers and sellers. The survey ... |
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[2009-11-16] Property fever heats up on economic rebound
Property fever heats up on economic rebound
(Listed Nove 16, 2009)
Investors shrug off capital gains tax, calling real estate a better avenue than stocks and banks as inflation looms. Retired garment worker Cu Ai Lan recently made over US$20,000 profit by selling two apartments in just over a week. In a country where annual per capita income is around $1,000, Lan, who owns two Western-style villas and several newly-built apartments, can easily earn tens of thousands of dollars from each piece... |
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[2009-11-16] Real estate hits the wall
Real estate hits the wall
(Listed Nove 16, 2009)
Complicated legal procedures, sky-high land prices and poor infrastructure are putting the clamps on Vietnam’s real estate industry. That was the grim message delivered to the 700 international investors at the Vietnam Travel Property Opportunity Conference in Ho Chi Minh City recently. Delegates said the country’s 3,000 kilometers of coast line, breathtaking scenery and cultural and historical landmarks are all major selling points ... |
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[2009-11-14] Shanghai real estate market scales new peak
Shanghai real estate market scales new peak
(Listed Nove 14, 2009)
The property market in Shanghai seems to be revving up again stoking fears of an impending price rise, going by the record sales price of an apartment in the expensive but much sought after Tomson Riviera. According to data from Shanghai Real Estate Trading Center (SRETC), the 600-sq-m luxury apartment has been sold for a whopping 96.09 million yuan ($13.3 million) - at 160,848 yuan per sq m - a new record for luxury homes. It ... |
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[2009-11-14] Stock market and real estate “bubble” in Vietnam
Stock market and real estate “bubble” in Vietnam
(Listed Nove 13, 2009)
Opinions vary about the existence of a “real estate bubble” due to contradictory indicators in the Hanoi and HCM City markets. Financial experts agree, however, that keeping a close watch over the real estate market is necessary. National Finance Supervision Council Deputy Chairman Le Xuan Nghia stated that there is no real estate bubble in Vietnam. Nghia’s view differs with Vikram Nehru&rsqu... |
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