Illustrative image (Source: VNA) HCM City (VNS/VNA) - Ho Chi Minh City authorities have pledged to continue providing assistance and creating favourable conditions for real estate companies at a dialogue between the city government and businesses. Speaking at the event on August 30, Tran Trong Tuan, director of the city’s Department of Construction, said any shortcoming in management and operation of State agencies related to construction licensing and real estate activities would be adjusted to facilitate businesses. More than 200 representatives from 150 enterprises and associations attended the meeting to learn more about guidelines and regulations from State agencies in construction and real estate. The directors of the departments of Construction as well as Natural Resources and Environment, and representatives of related departments, addressed all questions posed by businesses. The meeting, organised by ITPC and the departments of Construction and … [Read more...] about HCM City vows to help real-estate firms
Real estate
City vows to help real-estate firms
City officials speak with representatives of real estate enterprises at a meeting organised on August 30 in HCM City. — VNS Photo Bồ Xuân HiệpViet Nam News HCM CITY — HCM City authorities on August 30 pledged to continue providing assistance and creating favourable conditions for real estate companies at a meeting held in the city. Speaking at a dialogue between the city government and businesses, Trần Trọng Tuấn, director of the city’s Department of Construction, said any shortcoming in management and operation of State agencies related to construction licensing and real estate activities would be adjusted to facilitate businesses. More than 200 representatives from 150 enterprises and associations attended the meeting to learn more about guidelines and regulations from State agencies in construction and real estate. The directors of the departments of Construction as well as Natural Resources and Environment, and … [Read more...] about City vows to help real-estate firms
Ghost Month no longer a real estate horror
Property transactions have not been beset by the usual gloom during this year’s “Ghost Month”, reflecting changing attitudes among both local developers and home buyers. The seventh month in the lunar calendar is known as the Ghost Month in Viet Nam and some other Asian countries. It is believed to be a period of bad luck. During this month, people often avoid making important decisions like home purchases while real estate investors are also afraid of launching their products. The housing market during the Ghost Month is usually bleaker than other months of the year. But this is starting to change. Some property firms in HCM City believed that the Ghost Month has seen the highest number of transactions. Nguyẽn Nam Hièn, a representative from a real estate company in HCM City, said the seventh month in the lunar calendar traditionally has been a difficult period for many businesses. For this reason, property firms have not offered their products for sale … [Read more...] about Ghost Month no longer a real estate horror
Real estate “bubble” of no concern
Given recent actions directed at lending, there is virtually no chance of a real estate "bubble" appearing in Vietnam's real estate market this year or next. Stemming from concerns expressed since the beginning of the year about the appearance of a real estate “bubble”, the Governor of the State Bank of Vietnam (SBV) has directed banks to limit any lending focus on the real estate sector, supervise and assess lending, follow the progress of the property project a loan is intended for, and examine borrower’s financial capacity and assets to adopt consistent measures to curb risks. Credit pouring into the real estate is considered to be under control following the direction. Credit growth restricted In order to restrict credit in the real estate sector, the SBV Ho Chi Minh City Branch noted that banks must fully appraise whether lending is for housing or speculation. Banks in the city have seriously tightened real estate lending, appraised property prices, … [Read more...] about Real estate “bubble” of no concern
US, Singapore real estate firms come to booming Vietnam
Singaporean real estate firm Propnex opened an office in HCMC last month with its eyes firmly fixed on the high-end segment of the country’s property market. Propnex has had a 30 percent share of the brokerage market in Singapore over the last five years. It also has offices in Malaysia and Indonesia. Last year U.S.-based Electronic Realty Associates (ERA) started operating in Vietnam through its franchise in Singapore. Together with property brokerage EuroCapital, it has incorporated ERA Real Estate Vietnam, whose major market is HCMC. ERA Vietnam, which has 800 employees and 600 potential staff and collaborators undergoing training, is also focused on the high-end segment. It aims to be one of the top real estate firms in Vietnam within five years with over 50 offices and 5,000 employees. Another Singapore firm, Huttons Real Estate Group, came to the country in 2016. For this third largest property company in Singapore, Vietnam is the third overseas market after … [Read more...] about US, Singapore real estate firms come to booming Vietnam