The Hanoitimes - Local experts claimed that well-trained and qualified brokers will help the real estate market transparent. Realtors could be fined for avoiding trade centers Foreign realty brokerage companies target Vietnamese market Statistics from the Vietnam Association of Realtors (VARS) showed that only 10%-12% of roughly 300,000 real estate brokers in Vietnam are eligible to do the work though the number of workers in this sector is on the rise. Illustrative photo The growth rate of real estate brokerage averages 15% annually in the last three years, resulting in the rising number of brokers, the Vietnam News Agency citied VARS. However, there is a fact that brokers sometimes are the cause of land fever in many localities, causing market turmoil. Moreover, spam messages and calls from real estate agents are making problems for the job and toxically affecting truly professional brokers. As the role of brokers is to bring convenience … [Read more...] about Only 10% of real estate brokers in Vietnam eligible to work
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VN to boost professional real estate brokers
In the last three years, the growth of real estate brokerage in the market has averaged about 15 per cent per year. Photo baodauthau.vn HÀ NỘI Real estate brokerage plays an important role in the circulation of real estate products. The sustainable development of the property market depends on a variety of factors such as legal policy, management of authorities, operations of the businesses, as well as professionalism of brokerage teams. Therefore, real estate brokers need to have enough knowledge and skills to synthesise information about real estate associated with legal items and planning, as well as real estate values for buyers and sellers, said Đặng Hùng Võ, former Deputy Minister of Natural Resources and Environment. Statistics from the Vietnam Association of Realtors (VARS) showed that, out of about 300,000 real estate brokers in Việt Nam, only 30,000-35,000 are eligible to do the work, accounting … [Read more...] about VN to boost professional real estate brokers
Remittance plays important role in enhancing real estate sector’s liquidity: experts
Illustrative Image (Source: VNA) Hanoi (VNA) – Remittance is an important factor in enhancing the liquidity of Vietnam’s real estate sector, as the amount of the money flowing to Vietnam in the recent years has continuously increased, according to market watchers. In 2016, due to the influence of the presidential election in the US, the amount of remittance to Vietnam was only 9 billion USD, a level less than expected. But in 2017, the figured recovered to 13.8 billion USD, up 16.8 percent over the previous year, making a new record height. In Ho Chi Minh City alone, remittance the same year hit 5.2 billion USD, a rise of 4.5 percent year on year. Statistics from the State Bank of Vietnam, Ho Chi Minh City branch, showed that in the first half of this year, the amount of remittance was estimated at 2.45 billion USD, up nearly 20 percent over the same period in 2017. Of the total, the majority came from the US with over 60 percent, and Europe with more than 19 percent. … [Read more...] about Remittance plays important role in enhancing real estate sector’s liquidity: experts
Seminar on developing real estate in Vietnam
The event was attended by Ngo Dong Hai, alternate member of the Party Central Committee, and Deputy Head of the Party Central Committee's Commission for Economic Affairs. Real estate is also an effective investment channel for mobilising abundant financial resources in the nation and abroad, stimulating the related industries, increasing revenues for the budget and solving employment, while increasing the contribution of the finance, construction and building materials markets. The reports from the Foreign Investment Agency (FIA) showed that the proportion of capital poured into the real estate sector ranked second, accounting for more than 27% of the total foreign direct investment (FDI) in Vietnam. It is estimated that, in the next 10 years, the total new home demand will reach 5.1 million low and middle-priced departments. The pace of urbanisation not only increases the demand for housing but also stimulates demand for real estate for tourism and convalescence. It is necessary to … [Read more...] about Seminar on developing real estate in Vietnam
Overseas remittances to HCMC real estate average US$1 billion annually
The Hanoitimes - Overseas remittances have been an important source of capital for the real estate sector, according to a representative of the State Bank of Vietnam (SBV). Over the last three years, overseas remittances to Ho Chi Minh City reached nearly US$5 billion per year, one fifth of which, equivalen to US$1 billion, poured into the real estate sector, VnExpress reported. Illustrative photo. Overseas remittances have been an important source of capital for the real estate sector, said Nguyen Hoang Minh, deputy director of the SBV-HCM City branch at a conference on the prospect of the sector on August 11. The amount of over US$1 billion per year is a major support for property developers and contributes positively to Ho Chi Minh City's economic development in particular, and of Vietnam in general, he added. Moreover, the credit structure of the real estate sector has been stable, according to Minh. In the first seven months this year, total … [Read more...] about Overseas remittances to HCMC real estate average US$1 billion annually