The Ho Chi Minh City Department of Taxation has just announced the list of companies owing tax and fees as of the end of November 2018, including numerous real estate businesses. Spring Light City project of Ben Thanh-Mercury Co., Ltd., the company with the highest tax arrears According to the Ho Chi Minh City Department of Taxation, 256 companies owe more than VND1.352 trillion ($58.8 million) in total in taxes arrears and penalties. The biggest debtors, some owing up to or dozens or hundreds of billions of dong, hail from the real estate sector. Leading the list of tax debtors, Ben Thanh-Mercury Company Limited owes VND356 billion ($15.5 million) in tax. This company was previously named on a similar list two months ago, then owing VND350.5 billion ($15.24 million). Moreover, Ben Thanh-Mecury is the developer of the Spring Light City project on Nguyen Dinh Chieu Street, Da Kao ward, District 1, Ho Chi Minh City with the total area of 15,770sq.m. This project has been … [Read more...] about Series of real estate companies owe hundreds of billion dong in taxes
Real estate
Conference discusses Vietnam real estate market trend
The Vietnamese real estate market continues to be stable with supply on the rise compared to 2017 (Photo: VNA) Hanoi (VNA) – Economic experts and representatives from a range of firms gathered together at a teleconference on investment trends and opportunities in Vietnam’s real estate market, held in Hanoi on December 11. Participants focused on analysing, predicting, and coming up with solutions to help develop the real estate market in a balanced, stable, and sustainable manner; as well as help investors and the public better understand the upcoming market trends of 2019. Nguyen Manh Ha – Vice Chairman of the Vietnam Real Estate Association (VNREA), the event’s organiser – said that statistics from the association shows that the Vietnamese real estate market continues to be stable with supply on the rise compared to 2017. Beside Hanoi and Ho Chi Minh City, other localities such as Dong Nai, Binh Duong, Bac Ninh, Bac Giang, and Phu Tho have … [Read more...] about Conference discusses Vietnam real estate market trend
Real estate to continue growing steadily in 2019
The local real estate market is projected to continue growing steadily in 2019 following a year of robust economic growth, according to experts at the Vietnam Real Estate Summit 2018, held by property platform batdongsan.com.vn in HCMC last week. Residential blocks in the Thu Thiem new urban area project in District 2, HCMC Discussing the overall outlook of 2018 at the summit, Duong Thuy Dung, senior director at CBRE Vietnam, said that 2018 has seen high property supplies, with roughly 33,000 apartments launched in the Hanoi market as of last month (up nearly 2,000 units against 2017) and some 32,000 units offered for sale in HCMC (up 1,000 units). Vingroup plans to offer another 10,000 units late this year. Unlike last year, the market has focused more on the mid-end segment. An estimated 57% of the homes offered for sale in HCMC were mid-end products, priced at U$800-US$1,500 per square meter. High-end and low-end housing in HCMC accounted for 35% and 8%, respectively. Meanwhile, … [Read more...] about Real estate to continue growing steadily in 2019
Real estate in Saigon the most sought after in Vietnam
According to a report recently issued by Batdongsan.com.vn, one of the biggest property portals in Vietnam, Hanoi is the second most searched city when users look up real estate at 170 million searches. The two cities are followed by central Da Nang City, southern Bien Hoa town, northern Hai Phong City, central Nha Trang town, and Vung Tau Town and Can Tho City in the south in terms of popularity. Overall, the leading position of Saigon real estate is predicted to continue to remain the same because of its housing market is still seeing a lot of actions. Consumer data collected from Internet queries also showed the level of interest given to real estate in each specific area. Saigon attracted the highest level of interest, at 41.8 percent of recorded consumers, the largest in Vietnam, while Hanoi had 29.7 percent. Central Khanh Hoa Province, Da Nang, and southern provinces of Dong Nai and Binh Duong recorded modest numbers, fluctuating between 3 to 4.5 percent. Interest is measured by … [Read more...] about Real estate in Saigon the most sought after in Vietnam
Real estate promotion week kicks off in Hanoi
At the opening ceremony of the event (Source: VNA) Hanoi (VNA) – The real estate week Red Friday was officially launched in Hanoi on December 6, with many special promotion programmes on offer. This is the first ever home-buying event to be held with such exceptional incentives in Vietnam. During the week, customers will have chance to own real estate products with attractive discounts of up to 30 percent, which is higher than any promotion programme offered by developers so far this year. Nguyen Chi Thanh, Vice Chairman of the Vietnam Association of Realtors (VARS), said the event is an opportunity for investors to show their gratitude to homebuyers. It also gives opportunities for many people with real demand to own houses within their budget capacity, he added. Buyers and investors are connected through thousands of real estate brokers across the country, who are members of the VARS. The event, held by the VARS, will witness the participation of many firms such as … [Read more...] about Real estate promotion week kicks off in Hanoi