According to economic expert Can Van Luc, there are many factors that positively affect the real estate market including the relatively good economic recovery, the acceleration of the program of socio-economic recovery and development 2022-2023, and public investment. In addition, legal issues have been and are being resolved while interest rates and basic exchange rates were stable despite strong upward pressure. In particular, the credit market is having bright spots. From now until the end of the year, there will still be a new credit wave for good property projects and by 2023 there will be a new credit room. However, challenges still remain because the economic recovery is not sustainable and the supply is not immediately abundant whereas the prices of energy and raw materials also increased. The Government and responsible agencies have been tightening management of the corporate bond market. Regarding specific developments in the market, a representative of CBRE Group … [Read more...] about Experts forecast real estate market for next year
Record high record
Heavy downpour sinks streets, exacerbates traffic jams in Ho Chi Minh City
A heavy downpour battered Ho Chi Minh City on Monday afternoon and lingered until the evening, causing serious flooding and slowing traffic across the metropolis. The southwest monsoon strengthened due to the influence of a low-pressure system in the East Vietnam Sea, resulting in an hours-long downpour on Monday, according to Le Dinh Quyet, an official of the southern hydro-meteorological station. Around 7:30 pm, the rainfall was recorded at 102 millimeters in District 1, 80.4 millimeters in Thu Duc, and 50 millimeters in Binh Chanh District. Thousands of vehicles are stuck in traffic at the Hang Xanh Intersection in Binh Thanh District, Ho Chi Minh City, August 15, 2022. Photo: Phuong Quyen / Tuoi Tre The torrential rain caused severe flooding along multiple streets and significantly exacerbated traffic jams during the rush hours. At Chu Y Bridge connecting District 5 and District 8, commuters were stuck in traffic for over an hour due to the heavy downpour. … [Read more...] about Heavy downpour sinks streets, exacerbates traffic jams in Ho Chi Minh City
Vietnam detects fast-spreading BA.2.75 Omicron sub-variant
Vietnam has recorded new Omicron sub-variants including the fast-spreading BA.2.75, which explains the recent resurgence of COVID-19 cases in the country, according to the Ministry of Health. The General Department of Preventive Medicine under the Ministry of Health has sent an urgent document to health departments in provinces and cities regarding the enhancement of COVID-19 prevention and control efforts. The number of cases has been rebounding in Vietnam and across the world, the department stated. An average daily count of 2,000 new cases have been logged in the Southeast Asian country over the past weeks. Vietnam has documented the appearance of the new Omicron sub-variants with the ability to spread rapidly. Aside from the BA.4, BA.5, and BA.2.12.1 sub-variants that were previously detected, the country recently recorded the BA.2.75 sub-lineage, which is considered to be more transmissible than the others. In early July, many countries around the world reported the … [Read more...] about Vietnam detects fast-spreading BA.2.75 Omicron sub-variant