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[2009-11-14] Property market paralyzed by new tax
Property market paralyzed by new tax
(Listed Nove 14, 2009)
A new capital gains tax effective late last month has held back transactions and investments on Vietnam’s property market, realtors said. Phung Van Nang, general director of Ho Chi Minh City-based Nam Viet Property, said the new tax had “paralyzed” the local real estate market. About 80 percent of pending transactions could not proceed because both sellers and buyers were discouraged by the high tax rate and cumberso... |
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[2009-11-14] Skinny homes just got skinner in Hanoi
Skinny homes just got skinner in Hanoi
(Listed Nove 14, 2009)
Vietnam is famous for its long thin houses. But these building just went from thin to skeletal. With total investments of over 2.2 trillion dong ($123 million), the belt road No. 3, Trung Hoa – Linh Dam section is taken shape after several years of site clearance. Though the road is not yet finished, strange skinny houses are starting to appear. The roads at 78-86m wide is one of the country’s most modern - but the jur... |
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[2009-11-14] Gold price increases make real estate traders suffer
Gold price increases make real estate traders suffer
Sharp gold price increases have hit real estate transactions because it’s become too risky to deal in. The gold price exceeded the 26 million dong per tael threshold on November 9, the highest level in history. Analysts have warned that the 27 million dong per tael threshold is nearing. A lot of people complain that they cannot purchase gold to make payments for real estate transactions, as they did before, because of the overly high ... |
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[2009-11-13] 'Short sale' battles harm realty recovery
'Short sale' battles harm realty recovery
(Listed Nove 13, 2009)
Home equity lenders faced with losses from the US property slump are holding out for more money in distressed sales, slowing transactions needed to support a recovery, real estate agents and analysts say. These secondary lenders are gaining power in negotiating payments from "short sales", a growing part of the market where homes are sold for less than the balance of outstanding loans. Short sales are often cheaper for the primar... |
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[2009-11-13] U.S. home prices flat in Q3, fewer
U.S. home prices flat in Q3, fewer "underwater"
(Listed Nove 13, 2009)
Home values in the United States stabilized in the third quarter and fewer mortgages were "underwater," but impending foreclosures could threaten to delay a housing market recovery, real estate website Zillow.com said on Monday. Stabilization of the hard-hit U.S. housing market is seen as key to an economic turnaround so a delayed rebound would likely prolong a recovery for the world's largest economy. The amount of single-... |
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[2009-11-13] Construction ministry stops cement projects
Construction ministry stops cement projects
(Listed Nove 13, 2009)
The Ministry of Construction has scrapped four cement-making projects because they do not meet the requirements of the nation's Cement Industry Development Plan.Deputy director of the ministry's Department for Construction Materials Nguyen Van Ngoc said that the projects were Huu Nghi and Yen Mao in northern Phu Tho Province, the Phu Tan plant in the northern Hai Duong province and the Ngoc Ha plant in the northern province of ... |
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[2009-11-12] Employers urged to develop housing for industrial workers
Employers urged to develop housing for industrial workers
(Listed Nove 12, 2009)
The programme to build houses for low-income workers at Industrial Parks (IPs) in HCM City needs more commitment from developers and incentives from the government, experts say.Worker housing at Tan Binh Industrial Park in HCM City. The city has asked companies in its industrial parks to contribute towards public housing for workers.The municipal administration has asked many companies in the IPs to join the progr... |
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[2009-11-11] Lack of homes pushes up Auckland prices
Lack of homes pushes up Auckland prices
(Listed Nove 10, 2009)
A shortage of homes for sale has pushed Auckland's residential property values higher than they were a year earlier, QV figures show. Auckland values for October have climbed 2.5 per cent from the same time last year, while national values for October are 0.2 per cent above last year's, up from the -1.1 per cent recorded the previous month. Last month the national average sale price for the country was $389,198, up from $387,567 in... |
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[2009-11-11] ASEAN steel squeezes local production
ASEAN steel squeezes local production
(Listed Nove 11, 2009)
In just one month, the price of steel has fallen three times, despite the fact that construction season has arrived. Viet Nam News reporter spoke with Nguyen Tien Nghi, deputy chairman of the Viet Nam Steel Association, to find out the reasons behind the drop. Could you please tell us something about the steel market in Viet Nam from the beginning of this year? When 2009 began, many experts predicted that steel consumption would not ... |
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[2009-11-11] Cheap Chinese products dominate construction marke
Cheap Chinese products dominate construction marke
(Listed Nove 11, 2009)
Domestic construction materials are increasingly unable to compete with cheap Chinese products. Nguyen Quang Hoa in HCM City says he has spent the last few days choosing construction materials for his new house. However, Hoa was surprised to find that all available products appear to be made in China. Hoa isn’t happy about being forced to use Chinese products as they have a reputation for being of low quality.... |
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[2009-11-11] Speculators let high-end apartments pass
Speculators let high-end apartments pass
(Listed Nove 11, 2009)
It is expected that some 22,500 apartments will be available from now through the beginning of 2010. While real estate developers plan to launch their products, potential buyers find it difficult to borrow money, want to avoid resale taxes, and prefer properties with high liquidity.In October 2009, Lilama SHB kicked off two projects targeting medium-income and high-income earners. These include the Saigon Lilama SHB Town in Tan Ph... |
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[2009-11-11] Rent for retail premises keeps rising
Rent for retail premises keeps rising
(Listed Nove 11, 2009)
Retail shops at big markets and on big roads change hands all the time these days. Their rent has been escalating, becoming unaffordable for many small merchants who end up leaving the premises.Kim Loan used to have a tailor’s shop at Ky Dong T-junction. She revealed that her shop rent increased from two million dong a month to three million dong, and then four million dong. She still tried to pay the rent, however, becau... |
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[2009-11-11] Gold price increases make real estate traders suffer
Gold price increases make real estate traders suffer
(Listed Nove 11, 2009)
Sharp gold price increases have hit real estate transactions because it’s become too risky to deal in.The gold price exceeded the 26 million dong per tael threshold on November 9, the highest level in history. Analysts have warned that the 27 million dong per tael threshold is nearing.A lot of people complain that they cannot purchase gold to make payments for real estate transactions, as they did before, because... |
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[2009-11-10] Property industry points to suburbs for low-cost housing
Property industry points to suburbs for low-cost housing
(Listed Nove 10, 2009)
Housing for low-income people should be built in suburban areas rather than within cities to keep costs low, property industry executives have said.Speaking at a seminar on housing for the poor, workers and students held by the HCM City Real Estate Association last Friday, Nguyen Van Duc, deputy director of Dat Lanh Real Estate Company, said land costs were much higher in cities where it was also hard to find large... |
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[2009-11-10] Residents file official complaint against Phu My Hung
Residents file official complaint against Phu My Hung
(Listed Nove 10, 2009)
Nearly 700 residents of the new Phu My Hung residential area have signed a petition to complain about the Phu My Hung Joint Venture Company to relevant agencies, said the residents’ representative, Nguyen Hong Hai.“We have sent our complaint to the President, the Prime Minister, the HCM City People’s Committee and related agencies in HCM City. The HCM City Department of Construction refused to accept... |
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