Apartment prices in Hanoi are in freefall as an unprecedented discount craze kicks in. For the first time ever, Hanoi’s apartment sector is experiencing saw strong price reductions. Recently VP3 apartment project in Hoang Mai district slashed prices to VND25 million per square metre, from the previous price of VND32 million seven months ago. Explaining this sharp reduction, a source at the developer said many buyers were suffering from financial difficulties and could not continue paying installments. “We must support our customers to help them continue paying and sell the rest of our apartments,” the source said. Although the pricescuts at the above mentioned project were not as dramatic as those seen at Ho Chi Minh City’s PetroVietnam Landmark Tower and Hoang Anh Gold House, this decision to discount has proved contagious. Thang Long Garden, distributed by Sohovietnam real estate company, is now quoting prices of VND23 million per square metre, compared to … [Read more...] about The capital’s apartment prices slide
Hoa binh green apartment
Savills Vietnam, the marketing consultancy and exclusive sales operator for Hoa Binh Green City, has announced the opening of sales for this project. Invested by Hoa Binh Group and Agrexim JSC, Hoa Binh Green City will feature two residential towers of 27 floor, stretching over and area of 1.7 hectare in Minh Khai street in the southeast of Hanoi. With the price stating from VND24 million per square metres, Hoa Binh Green City’s price is quite low to other projects in the same quality. According to Nguyen Huu Duong, chairman of the Hoa Binh Company Limited, the investor of the project, with a vision to bring in a fresh and green space for its residents, Hoa Binh Green City was exceptionally designed with rooftop gardens, which, together with the utilisation of environmental friendly construction technologies and materials “The sophisticated design of Hoa Binh Green City’s apartment optimises the functional performance of each space yet allow air and sunlight … [Read more...] about Hoa Binh Green opens sales period
VietNamNet Bridge – “Don’t raise poultry or cattle”; “Don’t litter, make a mess or dispose of waste in public areas”; “Don’t burn votive paper”. These regulations sound familiar to anyone living in an apartment building, as they are stipulated by the building’s management board and can be seen clearly on the notice board of any block. On Saturday these regulations will be officially legalised as part of a circular on apartment quarters issued by the Ministry of Construction. The circular clarifies that in case of violations, the apartment building management board or local authorities will impose punishments based on the law. The violators must compensate for any destruction caused. The appendix of the circular not only bans apartment inhabitants from using TVs and broadcasting devices that make much noise, but also states that they are not allowed to hang clothes on the balcony or windows, or throw any items from these … [Read more...] about Is new law micromanaging apartment life?
Hanoi apartment market sees positive signals Thuy Ngan and Van Oanh By Thuy Ngan and Van Oanh - The Saigon Times Daily HANOI – The apartment market in Hanoi witnessed several positive signals last quarter, with a larger sales volume than in the first quarter. A report on the Hanoi property market by Knight Frank reveals the city-based projects attracted the interest of more homebuyers in the second quarter. Apartment prices in the western and southern parts of the city did not change much. Most of the apartment projects in the western and southern districts like Ha Dong, Hoang Mai and Hai Ba Trung are in the low- and mid-end segments. They have always recorded a higher transaction volume than the projects in other areas. The projects with an average price of around VND20 million per square meter like Hoa Binh Green City, HUD3 Tower, Phuc Thinh Tower and Xuan Phuong Viglacera achieved good sales volumes in June. Do Thu Hang, head of research and consultancy at Savills … [Read more...] about Hanoi apartment market sees positive signals
Hanoi Times - Hoa Binh, which means “peace” in Vietnamese, is a northwestern mountainous province five hours by car from Hanoi. The province is endowed with beautiful landscapes and a stunning. The region also features fanciful grottoes, rocky streams and impressive waterfalls that look like a fairyland on earth. The first must-see attraction is the Hoa Binh Hydropower Plant. Located on the gigantic Da River, this hydro-electric power plant is the largest in Vietnam. The plant has eight generators, each with capacity of 240,000 kilowatts. Built between 1979 and 1994 with assistance from the former Soviet Union, the power plant has made an enormous contribution to Vietnam’s economic development. Standing in front of such an admirable man-made structure makes one feel very small. A boat tour on HoaBinhLake, formed when the river was dammed for the power plant, is also a wonderful experience. An expedition on the lake offers a first-hand view … [Read more...] about Hoa Binh Province: inspirational travel