The number of apartments sold in 2012 is expected to be one third of the total supply in the market. Moreover, common tardy completion of projects has made the purchase of finished and nearly finished projects less risky. The early months of 2011 saw seemingly stable apartment prices in Hanoi and even signs of some [...]
Tan Hoang Minh Group and Hanoi Housing Management and Development Company unveiled plans for a luxury residential complex on Hanoi’s Nguyen Van Huyen Street in Cau Giay District. The 4 trillion dong building will cover a ground area of 4,800 sq.m. Prices are estimated to reach 100 million dong (US$5,000) per sq.m. The D’Palais de [...]
Many are calling for incentives from the government to help develop the condo-for-rent market Le Hoang Chau, chairman of the HCMC Real Estate Association (Horea), said developing the condo-for-rent market would help provide affordable housing for those whose financial capacity is not strong enough to buy commercial homes. Most apartment-for-rent projects are high-end and target [...]
Hanoi was placed 13th and Ho Chi Minh City 12th among the most expensive cities in Asia in 2011 in terms of three-room apartment rent, according to an accommodation report from ECA International. In the world, Hanoi ranked 53rd and HCM City 52nd, the report said. Tokyo was the most expensive city in Asia, followed [...]
Most property companies saw their profits last year declining almost to nil compared to the previous year as the gloomy market continued to adversely affect their operations. A sharp revenue drop and a build-up of unsold products caused by weak demand in the apartment segment coupled with rising borrowing costs have led to the poor [...]
In 2011, the Vietnamese real estate market was lacklustre because it lacked investments. Most investors had to reduce selling prices but, to a certain extent, prices of downtown properties still inched up. Downtown land rises silently According to senior land brokers in Hanoi, land around Hoan Kiem Lake has the highest prices: 900 million dong [...]
While other real estate developers complain about the bad business performance in 2011, hotel owners had a bountiful crop. Hotel developers enjoy business prosperity VnMedia has quoted the report of Savills, a real estate service provider, as saying that the total supply in the hotel market has decreased by three percent in the fourth quarter [...]
Developing the condo-for-rent market is seen as a new trend to meet housing demand but it needs government incentives, said relevant agencies. The national housing development strategy until 2020 and a vision towards 2030 approved by prime minister Nguyen Tan Dung in late November last year sets the target of raising the country’s per capita [...]
Deputy Minister of Construction Nguyen Tran Nam has proposed to establish a bank specializing in real estate, according to some sources. Nam said that this is a direction to unfreeze capital markets in a difficult context. Nam also said that capital sources from banks are being suspended, so the main task set out for 2012 [...]
Local real estate firms are facing a shortage of capital as they can’t easily access bank loans or borrow from their customers like before. The majority of property firms only have about 20 percent of invested capital by using their own equities when developing fresh projects. This means they have to borrow money from banks [...]
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