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[2009-11-05] China probably not to extend favorable measures in property sector
China probably not to extend favorable measures in property sector
(Listed Nove 05, 2009)
With a solid recovery in the real estate market, the Chinese government would probably not continue the measures unveiled last October to boost the property sector amid the global financial crisis, the China Business newspaper reported Sunday on its website. The newspaper quoted an unnamed source close to the Ministry of Housing and Urban-Rural Development (MHURD) as saying, "Those policies were effective... |
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[2009-11-05] Buyers rush for luxury Tricon Towers
Buyers rush for luxury Tricon Towers
(Listed Nove 05, 2009)
The demand for high-end property market is on the rise as apartment buyers rush to buy in Tricon Towers, a high-grade and luxurious commercial, service and residential complex. Scores of buyers have been impressed by Tricon Towers’ facilities The Minh Viet Investment Joint Stock Company (MVIC), investor behind Tricon Towers said that 50 apartments were sold out during the introduction of its sample apartment on September 26, thi... |
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[2009-11-05] A foothold to unlock local property market
A foothold to unlock local property market
(Listed Nove 05, 2009)
Singapore-headquartered CapitaLand, one of Asia’s largest real estate firms, recently introduced apartment sales at its first high-end residential project in Hanoi, Mulberry Lane. Chen Lian Pang, CEO of CapitaLand in South East Asia, tells VIR’s Song Ngoc that the project marked the group’s long-term foothold in Vietnam’s lucrative real estate market. Since September, the real estate market seems to have ... |
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[2009-11-05] Tax threatens to freeze city’s property trading
Tax threatens to freeze city’s property trading
(Listed Nove 05, 2009)
A controversial land use tax applied to Phu My Hung homebuyers could derail Ho Chi Minh City property trading. Nguyen Hoang Dung, deputy general director of Phu My Hung Joint Venture Corporation - developer of Ho Chi Minh City’s Phu My Hung township, said in a statement to the people’s committee that skyrocketing land use fees had frozen all property transactions in the area, as current and potential home... |
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[2009-11-04] Halloween scare as home sales slump
Halloween scare as home sales slump
Thứ 4, 04/11/2009
Back-to-back holiday weekends and policy changes may have taken a toll on home sales. New data recording a plunge in home sales suggest that Hong Kong's hot housing market has had two very chilly weekends - on the Chung Yeung and Halloween weekends, and after government steps to squelch a potential property bubble. Transactions at the top 10 residential projects in the territory fell to a total of 21 during October 31 to November 01, down... |
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[2009-11-04] Non-performing loan ratios decrease
Non-performing loan ratios decrease
(Listed Nove 04, 2009)
The non performing loan ratio (NPL) of the banking system has decreased considerably since late 2008 and early 2009. The decline is attributed to the interest rate subsidy program, which helped businesses pay debts and assisted the real estate market so that investors could take back money to pay their debts. The Vietnam Foreign Trade Commercial Bank’s (Vietcombank) Chairman Nguyen Hoa Binh said that the NPL ratio of the bank is ... |
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[2009-11-04] Da Nang builds low-income housing
Da Nang builds low-income housing
(Listed Nove 03, 2009)
Construction on two housing projects for students and low-income families has begun in the central city of Da Nang, at a total investment of more than 300 billion VND (16.8 million USD). The apartment building project for low-income families in Son Tra district, which costs 194 billion VND, will include a park, kindergarten, service area and basement parking. Three nine-storey buildings, with a total of 725 apartments and floor area of u... |
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[2009-11-04] Real estate unaffected by 2nd stimulus package
Real estate unaffected by 2nd stimulus package
(Listed Nove 03, 2009)
While applauding the second stimulus package which has helped make the stock market prosper, real estate developers believe that the package is not big enough to warm up the real estate market. “The extended short term interest rate subsidy program will not have a big impact on the real estate market,” stated General Director of Dat Xanh Real Estate Company Luong Tri Thin. He noted that the program will only ext... |
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[2009-11-03] Price of Beijing's luxury flats skyrockets
Price of Beijing's luxury flats skyrockets
(Listed Nove 03, 2009)
The price of luxury flats in Beijing has significantly risen in the third quarter, and analysts say costs will continue to increase. After a sagging real estate market in the second half of last year, Beijing's luxury properties recovered quickly in the first half of the year and gained momentum in the third quarter. The average price of a luxury flat - defined as a high-quality apartments with additional amenities - has reached... |
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[2009-11-03] ASEAN posied to conquer domestic steel market
ASEAN posied to conquer domestic steel market
(Listed Nove 03, 2009)
Experts have warned that domestic steel producers must compete with “powerful rivals,” but the rival this time is not China, but ASEAN countries. The Vietnam Steel Corporation (VSC) has had to lower its steel price by another 200,000-300,000 dong per ton, the third price decrease for 2009. The price decrease is noteworthy since it comes during the high construction season in Vietnam, when demand is increasing. Cu... |
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[2009-11-03] Foreign investment tumbles in HCMC
Foreign investment tumbles in HCMC
(Listed Nove 03, 2009)
Foreign investment in Ho Chi Minh City over the first ten months fell to $1.1 billion, a three-year low and down from last year’s $8.2 billion, according to the city’s Department of Planning and Investment. There was no cash pumped into Thu Thiem and northwest Cu Chi, two new urban areas which had drawn serious investments in recent years. Saigon Hi-tech Park brought in only three projects. Three export processing zones and ... |
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[2009-11-03] $100 mil hotel-villa complex breaks ground in Da Nang
$100 mil hotel-villa complex breaks ground in Da Nang
(Listed Nove 03, 2009)
Work has begun on a US$100-million hotel and villa complex has been launched in the central city of Da Nang. Located on Non Nuoc Beach, selected as one of the world’s most beautiful beaches in 2005 by the Forbes, the 15.4-hectares-plus Raffles complex will comprise a five-star hotel with 142 rooms and 39 villas, said Le Khac Hiep, vice chairman of the Ukraine-based Vingroup run by overseas Vietnamese. According ... |
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[2009-11-03] Real estate pundits sing mainly from same songbook
Real estate pundits sing mainly from same songbook
(Listed Nove 03, 2009)
There are various sources of information about the residential property market - Quotable Value, REINZ, independent agencies - which can sometimes be confusing to the potential buyer or seller seeking an answer to the question: "have we started to emerge from the recession yet?". Reading the latest report on the property market can be an uplifting or a deflating experience, depending on which report you choose to go by. ... |
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[2009-11-02] Retail space shortage continues in HCMC
Retail space shortage continues in HCMC
(Listed Nove 02, 2009)
Ho Chi Minh City is expected to have an additional 730,000 square meters of retail space by 2011, putting an end to the city’s severe lack of shopping venues, but until then the war for modern retail space continues. The thriving market for supermarkets, trade centers and convenience stores is forecast to account for 25 percent of the city’s retail sales next year and up to 60 percent by 2020. Local authorities hope to... |
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[2009-11-02] First eco-industrial zone construction starts
First eco-industrial zone construction starts
(Listed Nove 02, 2009)
The south-western border province of Tay Ninh on October 30 launched a ground-breaking ceremony for construction of the country’s first eco-industrial zone. The VND 3 trillion project, also called the Bourbon-An Hoa industrial park, was jointly invested by the Bourbon Group of France, the Viet Au Company and the Long Hau Joint-stock Company. Of the 1,020 hectares of land, the park will reserve 760 hectares for industria... |
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