American investor and CEO of Indochina Capital, Peter Ryder How have you assessed the contribution of the private economic sector, especially foreign direct investment (FDI), to Vietnam’s real estate market? An interesting trend in Vietnam, which I detect, is that the real estate development has long been dominated by the private sector. This is unlike many other industries in which the government still has very large involvement. If you look at the history of real estate development over the past 25 years, we can see that Vietnam has really opened up in the post-doi moi era. In the immediate wake of this, major developers were foreign investors who typically set up joint ventures with domestic authorities. During this time, Indochina Capital began two joint ventures, one with Danang Tourism to develop the Furama Resort, and another with the Vietnam Fatherland Front and Hongkong Land to develop an office building at 63 Ly Thai To in Hanoi. In the last decade, the market … [Read more...] about Real estate at the heart of economy
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VIR honours real estate champions
Leading developers were praised last week in categories ranging from smart projects to opulent resorts In order to recognise developer efforts to produce high-quality projects that offer a taste of novelty to Vietnamese customers, VIR last week held a ceremony to honour the 36 real estate projects that gathered the most votes. Along with the ceremony, VIR also hosted a real estate trends seminar with the participation of experts and enterprises leading the real estate market. To map out the newest projects that resonate the most with homebuyers, VIR organised the poll on Vietnam’s leading real estate projects. Between November 20 and December 20, 2018, VIR put the question up for popular vote on its newswires tinnhanhchungkhoan.vn and baodautu.vn to find the top green and smart projects, the most coveted ventures, and the most opulent resorts. VIR’s poll recognises the efforts of Vietnamese real estate … [Read more...] about VIR honours real estate champions
VIR awards 36 winners of real estate poll
36 real estate projects were awarded by VIR in three categories, including green and smart projects, projects attract cash flow, and leading resort projects, highlighting famous names in the real estate market and depicting the leading market trends for 2019. The 36 winners of the poll To recognise the efforts of developers in building innovative and high-quality projects in Vietnam, VIR held the “Leading Real Estate Projects” poll on its website to gather customer insights before releasing its special publication. Almost 1.3 million readers have participated in the poll, setting a new record for a poll of this kind. Speaking at the opening ceremony, Le Trong Minh, editor-in-chief said that “Human-centric living spaces, respect for residents’ life, and community values are the trend of the future, as the beneficiaries of real estate products increasingly turn towards the value and quality of life. In the context of climate change, environment-friendly … [Read more...] about VIR awards 36 winners of real estate poll
Cleared land in suburbs lead investment trend in HCMC’s real estate market
The Hanoitimes - Land in the city’s suburbs and surrounding provinces like Long An, Dong Nai, Ba Ria-Vung Tau, and Binh Duong are abundant and rather cheap, offering investors various options. Why is Vietnam's real estate a magnet for international investors? (P.2) Why is Vietnam's real estate a magnet for international investors? (P.1) Cleared land in suburban areas would lead the market with high liquidity in the trend investing in real estate in Ho Chi Minh City (HCMC) and adjacent zones this year, local experts have predicted. Part of a property project in Long Thanh district, Dong Nai province. Photo: Donghunggroup Land lots in the city’s suburbs and surrounding provinces like Long An, Dong Nai, Ba Ria-Vung Tau, and Binh Duong are abundant and rather cheap compared to other parts of HCM City, offering investors various options, local media quoted the experts as saying. Room for higher prices in the surrounding provinces remains … [Read more...] about Cleared land in suburbs lead investment trend in HCMC’s real estate market
Seven worrying problems for HCMC’s real estate market in 2019
VietNamNet Bridge - The property market is worried about ‘land fever’ amid a shortage of available land. * The revenue from land tax and fees in HCMC decreased sharply by 16.8 percent compared with 2018, while the revenue from land use fees for project development dropped by 22.5 percent. According to the HCMC Real Estate Association (HoREA), the decline may continue in 2019. * The scale of the real estate market was smaller in 2018 and the problem may be carried forward to 2019. In 2017, 92 housing projects were under implementation which promised to provide 37,502 apartments and 5,489 houses. In 2018, only 77 projects with 28,316 products were expected to be launched into the market in the future, a sharp decrease of 34.1 percent compared with 2017. * The new supply is expected to be limited as a result of the HCMC Housing Development Program in 2016-2025, which prohibits the development of multi-story apartment projects in the central area of … [Read more...] about Seven worrying problems for HCMC’s real estate market in 2019