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[2009-09-18] Who benefits after the real estate market bounces back?
Who benefits after the real estate market bounces back?
(Listed Sept 18, 2009)
Despite the real estate market seeing signs of recovery, investors still enjoy high profits as a result of the market lacking available properties and transparency, according to economic experts. Market bounces back The real estate market in Hanoi has begun to gain momentum since May with areas of land in Ha Dong, My Dinh, An Khanh and Thang Long seeing a sharp increase in price. For example, price of land for... |
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[2009-09-18] US property investment fund planned
US property investment fund planned
(Listed Sept 18, 2009)
Saigon Securities Inc plans to raise a fund in Vietnam to invest in the US real estate market, according to a company official. Chairman Nguyen Duy Hung said preparations were under way and he expected the fund to have fewer than 10 members. “It will be experimental; therefore we target a scale of around 20 million USD,” he told the English-language daily Vietnam News during his company’s recent ninth anniversary cere... |
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[2009-09-18] 80 percent of real estate transactions done outside trading floors
80 percent of real estate transactions done outside trading floors
(Listed Sept 18, 2009)
Eighty percent of real estate transactions do not go through trading floors was the figure released at a workshop reviewing the operations of real estate trading floors on September 15. According to Director of the House and Real Estate Market Management Department under the Ministry of Construction (MOC) Nguyen Manh Ha, there are 226 real estate trading floors nationwide. However, in the first eight mont... |
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[2009-09-18] Housing tax should not be anti-speculation tax: MOF
Housing tax should not be anti-speculation tax: MOF
(Listed Sept 18, 2009)
Deputy Director of the Tax Policy Department under the Ministry of Finance Pham Dinh Thi has affirmed that the housing tax is a kind of asset tax rather than an anti-speculation tax. Thi, who is also a member of the compilation committee of the draft housing tax, in an interview with Thoi bao Kinh te Vietnam recently, responding to the criticism from experts that the draft law will fail to fight speculation, stressed th... |
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[2009-09-17] U.S. commercial property won’t recover until 2012
U.S. commercial property won’t recover until 2012
(Listed Sept 17, 2009)
The U.S. commercial real estate market is unlikely to recover before 2012 and office rents in New York and San Francisco may drop 20 percent through next year, a survey of property investors found. Suburban office rents could fall as much as 20 percent, while downtown office rents may decline about 10 percent, according to the quarterly PricewaterhouseCoopers Korpacz Real Estate Investor Survey, released today. &ldq... |
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[2009-09-17] City to continue using obsolete land, house certification
City to continue using obsolete land, house certification
(Listed Sept 17, 2009)
Ho Chi Minh City's standing deputy chairman Nguyen Thanh Tai requested Tuesday municipal authorities, at all levels, to resume the issue of land and house papers that have been officially obsolete since the beginning of August. According to the Amendment of the Law on Capital Construction Investment, since August 1, the two separate certificates “land use right” and “ownership of house and other ... |
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[2009-09-17] Work on Vietnam’s largest steel mill to begin next month
Work on Vietnam’s largest steel mill to begin next month
(Listed Sept 17, 2009)
Pomina Steel Joint-Stock Company said construction of Vietnam’s largest steel-casting factory will begin on October 17 in the southern province of Ba Ria-Vung Tau. Pomina chairman Do Duy Thai said the new factory, expected to open in three years at, would increase Pomina’s annual capacity to 1.5 million tons, making it the largest steel producer in Vietnam. The new steel casting facility will have... |
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[2009-09-17] Experts say value-based house tax unfair
Experts say value-based house tax unfair
(Listed Sept 17, 2009)
A property tax system based on home value is not viable and unfair, experts say, arguing that homes should be taxed based on the area they are built on. Under the latest property draft law by the Finance Ministry, a homeowner would have to pay an annual property tax of 0.03 percent based on the assessed value of the house, with a tax-free threshold of VND500 million. Owners of more than one house would be taxed on the total value ... |
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[2009-09-16] U.K. housing market shows first increase since 2007
U.K. housing market shows first increase since 2007
(Listed Sept 16, 2009)
The U.K. housing market may have stabilized after more surveyors reported a gain in home values than a drop for the first time in two years, a report by the Royal Institution of Chartered Surveyors showed. The number of respondents surveyed saying prices rose in August exceeded those reporting declines by 11 percentage points, the first positive reading since July 2007, the London- based organization said today in a sta... |
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[2009-09-16] New housing figures point to possible end of recession
New housing figures point to possible end of recession
(Listed Sept 16, 2009)
House prices rose last month and homes sold more quickly, real estate figures show. Wellington led the way, with August prices 7.5 per cent higher than in August last year. Auckland followed with a 4.4 per cent rise. The national median house price was $346,750, up 2 per cent from July and 5.1 per cent higher than the same month last year, said the Real Estate Institute of New Zealand. Sales were down to 5878, from ... |
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[2009-09-16] Banks raise gold rates to attract deposits
Banks raise gold rates to attract deposits
(Listed Sept 16, 2009)
Many commercial banks have raised interest rates on gold deposits as domestic prices of the metal continue to soar and depositors withdraw gold to sell. The Sai Gon Commercial Joint Stock Bank (SCB) has hiked its deposit interest rate by 0.55 to 0.6 per cent to offer 4.55 per cent a year for terms up to 12 months and 4.6 per cent for longer terms. The Sai Gon Thuong Tin Joint Stock Bank (Sacombank) pays 4.54 per cent a year for ... |
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[2009-09-15] Properties in limbo with title law
Properties in limbo with title law
(Listed Sept 15, 2009)
The number of real estate transactions has decreased sharply since August 1, when a law providing that ownership of a house and the use of the land it sits on must be on the same title became effective, according to statistics from public notary offices in several districts. Previously, ownership of a house could be held on one title, and the right to use the land under the house on a separate title. Under the now months-old law relatin... |
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[2009-09-15] Vietcombank loans $39mil for resort
Vietcombank loans $39mil for resort
(Listed Sept 15, 2009)
Indochina Land and Vietcombank signed on Saturday an agreement for a US$39 million loan to fund development of the Hyatt Regency Da Nang Resort and Spa. The $120 million resort and residential complex is located on a 20-ha site along Non Nuoc Beach, named by the US's Forbes magazine as one of the world's 10 most beautiful beaches. The complex, developed by Indochina Land and managed by Hyatt Hotels and Resorts, will comprise a 200-room... |
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[2009-09-15] Rents still rising for upscale store sites
Rents still rising for upscale store sites
(Listed Sept 15, 2009)
The demand for commercial real estate is still very high even in the economic downturn, because consumers in HCM City and Hanoi have gotten used to going shopping at trade centres, according to a story in Dau Tu Chung Khoan business newspaper. Supply grows, but rents don’t fall Tran Van Hung, head of leasing at Eden Mall in the Saigon area of HCM City, said that the great majority of people buying brand name goods are Viet... |
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[2009-09-15] Tan Da Court - Apartments for sale or lease
Tan Da Court - Apartments for sale or lease
(Listed Sept 15, 2009)
The Commercial and Apartments Building Tan Da Court, at 86 Tan Da Street, District 5, Ho Chi Minh, which is close to Cho Lon business center. Tan Da Court is located at the corner of Nguyen Trai and Tan Da street allowing for easy and convenient access. Luxuriously and harmoniously designed, our apartments commit to bring you the comfortable and modern life. Currently, there are apartments for sales offering from 2 bedr... |
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