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The Da Nang Department of Construction has made public a list of commercial housing projects in which foreign organizations and individuals are allowed, or not allowed, to buy apartments or houses. Monarchy resort complex, one of the commercial housing projects that allows foreign organizations and individuals to own housing. This list includes 17 commercial housing projects that allow foreigners to buy and own houses: Blooming Tower Da Nang; Golden Square complex of commercial services, hotels and apartments; Quang Nguyen commercial apartment building; P.A Tower hotel and apartment complex. Apartment building No.38 Nguyen Chi Thanh (Lapaz Tower); Apartment building No. 6 Nguyen Du Street (Danang Plaza); HAGL Lakeview apartment building; Thuy Tu urban area; Monarchy resort complex; Harmony Tower Apartment building; Summit Apartments; An Vien residential area; Da Nang Green Hoa Binh Complex; Tower Garden Apartments; Azura Apartments; Da Nang estate and Da Nang … [Read more...] about Foreigners allowed to buy houses in 17 real estate projects in Da Nang

A survey by VnExpress found that townhouse rents have been falling since the pandemic first broke out. In the first quarter of 2020 they fell by up to 25 percent as social distancing was in place and businesses renting houses went belly-up. The second outbreak in the second half of 2020 caused another 25-40 percent fall. The third outbreak at the beginning of 2021 drove the rents down another 30-40 percent to their lowest levels ever. The vacancy rates at townhouses surged as food and beverage and fashion shops, hit hard by the pandemic, ended their leases. Traditionally, it has been a sellers’ market, with businesses seeking to rent a house in the city center having to queue up outside landlords’. Industry insiders expect the struggle to continue until the end of 2021. Talking to VnExpress , Dr Trang Minh Ha of the Institute of Accounting and Business Management said the pandemic has also changed how businesses like restaurants and fashion stores operate. "During the … [Read more...] about Why HCMC houses for rent are in a deep crisis

The piece details numerousse achievements Vietnam has recorded over the past year, given the current health and economic hardships faced by nations across the world. Forbes stresses that throughout the same period, Vietnam has eclipsed all of its Asian rivals economically by recording positive GDP growth of 2.9%. Indeed, this represents a noteworthy feat considering that last year witnessed the GDPs of neighbouring Thailand and Malaysia suffer declines of 6.1% and 5.6%, respectively. “Consequently, Vietnam’s real estate market has flourished in recent years, with continued economic growth leading to a surge in property prices. The country’s real estate market proved resilient during the pandemic, with both the industrial and residential sectors leading the pack,” says Forbes. According to the financial publication, the star of the local real estate market remains the national industrial sector, which has been the beneficiary of a manufacturing boom occurring in recent times. In … [Read more...] about Forbes hails rising office rents, growth in VN housing market

At a half-built residential development a few blocks from Apple’s biggest iPhone plant in the central Chinese city of Zhengzhou, Wang Lina has made an unusual offer to attract business following a 10 per cent price drop over the past 12 months. Instead of requiring a standard 30 per cent downpayment, the sales manager has asked for a 5 per cent deposit and makes up the difference by offering a two-year, interest-free loan funded by the project’s developer. “We once hoped that the expansion of Foxconn would bring in migrant workers and boost home sales,” she said, referring to the world’s largest contract manufacturer that built a production base in the city of 10m people a decade ago. “But it didn’t work out that way and we have to do what we can to make ends meet.” Wang is just one of several local developers grappling with softening home prices and sluggish sales. Dozens of inland cities face a similar problem. In China’s coastal hubs, however, a speculation-driven housing … [Read more...] about China’s housing crash exposes a growing regional economic divide

No longer seen as a profitable investment segment, apartments are not selling well as investors have shifted to buy land instead. Recently, a group of men and women in white shirts and black trousers stood on a street in Hanoi, fanning themselves with leaflets. They were officers of real estate trading platforms advertising a nearby apartment project and other products. When seeing passersby, they would rush to give them a leaflet and lead them to the consultation desk. Such activity reflects the current market. Do Van Thanh, who has worked as a real estate broker in Hanoi for five years, said it is difficult to sell apartments these days. The number of apartments on sale in Hanoi has fallen sharply, and the process of handing over apartments to customers has slowed down as interest in apartments has waned. JLL Vietnam’s first quarter report showed that 3,645 apartments were on sale in Hanoi, a 36.6 percent increase over the previous quarter. Most of the projects were … [Read more...] about Apartments sales drop, but developers still setting high prices