BW Industrial is paying avid attention to the Vietnamese property market Since beginning to work as the US Ambassador to Vietnam in November 2017, Daniel Kritenbrink has been witnessing a rise in US investment in the Southeast Asian nation, including the development of smart cities here and US investors are also connecting with other smart cities across Southeast Asia. “The US will provide support to realise these ambitions by developing infrastructure for smart cities. This will be a promising and fair playground for all investors. If legal documents create enough favourable conditions for investors, Vietnam will become a prosperous and dynamic economy,” said Kritenbrink at the International Real Estate Conference recently held in Hanoi. For example, the US-Vietnam Smart Cities Industry Group (UVSCIG) provides public and private sectors with an opportunity to engage with Vietnam to learn about smart cities’ objectives and unique needs. “It also showcases to … [Read more...] about American realtors look to a Vietnamese future
House flipping market
Back to English Comments Travel & Life - December 25, 2018 | 03:26 pm GMT+7 They may be very basic but actually go a long way in ensuring poor ethnic children get education. UNDP statistics show ethnic minority high school students in Vietnam have to travel an average of 17.6 km (10.9 miles) to reach school. Only 41.8 percent of ethnic people make it to high school, according to a report of the National Assembly's Ethnic Council. Going to school in the mountains requires great effort on the part of students as well as their families. VnExpress chose nine typical objects and images connected with the life of a high school student and recorded them at schools in Hoang Su Phi District, Ha Giang Province in the far northeast of Vietnam.1. Plastic flip-flops At high schools in the northern mountains, shabby and torn plastic flip-flops are a common sight on the feet of children. Eighty percent of mountain communes here do not have proper roads, meaning the path to school, … [Read more...] about 9 ubiquitous items students have in Vietnam’s northern mountains – VnExpress International
Market observers said property companies’caution was due to many reasons, including the instability in the sector.— Photo phapluatplus.vn Chu Anh Tuấn, deputy general director of property developer Hà Đô Group, said recently his company expects consolidated profit after tax to be VNĐ700 billion (over US$30.43 million) this year. But its target for next year is only VNĐ800 billion ($34.9 million), a 15 per cent year-on-year increase, he said. The Development Investment Construction Joint Stock Corporation (DIG)’s leadership has also been very cautious in setting business targets for next year. A company spokesperson said the growth target for 2019 would only be 10 per cent higher than for this year. The targets are rather modest when seen against the real estate industry’s performance this year. In the first nine months the profits of many enterprises grew by more than 100 per cent year-on-year. DIG for instance reported … [Read more...] about Property firms wary of bubble, set sights low
At the scene of the accident (Photo: VNA) Binh Phuoc (VNA) – Six people were killed and 15 houses were burned to the ground after an oil-carrying tanker truck crashed and burst into flames on National Highway 13 in the southern province of Binh Phuoc at about 4 a.m on November 22. All the deceased were in two of the houses. Another five houses also suffered fire damage. The tanker truck was travelling at high speed from Ho Chi Minh City to Binh Long town, Binh Phuoc province. It crashed into a delivery tricycle which was carrying ice in the same direction at Minh Hung market and then hit a 220kv power pole on the opposite side of the road. The truck flipped upside down in the crash, which caused tens of thousands of litres of oil to ignite. Nine fire trucks and 65 firefighters were sent to the scene. The fire was controlled after three hours. Competent agencies are investigating the incident. –VNA … [Read more...] about Binh Phuoc: six dead, 15 houses burned after oil truck catches fire
Probability of a bubble Vo Huynh Tuan Kiet Since its quick recovery in 2014, the Vietnamese real estate market has witnessed an unparalleled supply of new projects being constantly launched and with good net absorption. Along with the market’s traditional segments, new products have been introduced, such as second-home villas, condotels, and officetels. Since 2015, the Vietnamese government loosened its requirements for foreigners to buy and own properties in Vietnam, which helped attract more foreign investors to the market (Figures 1 and 2). Nonetheless, many experts and investors have cast doubts upon this rapid recovery, predicting underlying risks. These risks include an oversupply of high-end projects, the return of speculators, and falling market demand. The biggest concern would be another property bubble akin to the one that shook the market in 2007 and froze the property market until 2013. The market is still paying the cost of this previous bubble. As the … [Read more...] about Signs of another property bubble?