Experts have said improving the transparency of the real estate market is critical to prevent inflated prices and ensure stable development. In 2018, the property market saw ‘price fever’ in several localities, especially those with potential for tourism growth and those expected to be developed into special administrative economic units like Van Don in Quang Ninh Province and Phu Quoc in Kien Giang Province, where buyers grabbed property with hopes for significant returns. When the National Assembly voted to delay the passing of the Law on Special Administrative and Economic Units –and when local authorities ordered a halt to land transitions – the price hikes in Van Don and Phu Quoc cooled off. Nguyen Van Dinh, deputy president of the Viet Nam Association of Real Estate brokers, said this was a necessary “pause” for the real estate markets in these two hot areas to return to stability. Dinh added that market transparency there also needed to be … [Read more...] about Market transparency key to stable real estate development
Sustainable real estate development
Vietnam: a world of opportunities for real estate
IREC 2018 welcomes delegations from 19 nations and territories This morning, the International Real Estate Conference 2018 was launched in Hanoi with the participation of more than 300 international representatives and nearly 1,000 delegates from the country. The development of the real estate market in recent years has made positive contributions to the sustainable development of the economy and social security in Vietnam, as well as provided a solid foundations for industrialisation and modernisation. Minister of Construction Pham Hong Ha said that to perfect the market economy with a deep awareness of the importance of the real estate market, over the past years, the Vietnamese government has made great efforts to build a comprehensive legal framework for the real estate market. In the course of legislative policy development, the government also pays attention to building legal corridors for foreigners to buy and own real estate in Vietnam and to attract international investors. … [Read more...] about Vietnam: a world of opportunities for real estate
Economists confirm great potential of industrial real estate development
Lately, Vietnam generally and property sector particularly succeed in luring foreign investors thanks to sustainability of macroeconomic growth. The Increase in foreign direct investment (FDI) plus the shift in investment have shown the enormous potential of the industrial real estate which is comprised of properties used for manufacturing and production: factories, plants. For instance, $35.6 billion FDI was poured into the segment in 2017, a year-on-year rise of 44.4 per cent. A statictis report issued in the end of 2017 said that there were 220 industrial parks and export processing zones in the area of 69,000 hectares in the country. It is planned that the industrial land will double by the year 2020. Industrial parks have had moves to appeal investors. Specifically, Hiep Phuoc Park in Nha Be district and Tan Thuan Park in district 7 have built high-rise factories to lure investors. Deputy Director of Linh Trung Export Processing Zone Tran Thien Trung said it has completed … [Read more...] about Economists confirm great potential of industrial real estate development
Alpha King—international real estate developer officially launched in Vietnam
On July 25, 2018, Alpha King Real Estate Development was officially launched in Vietnam, making the country its strategic market in the long term. Jimmy Chan, CEO of Alpha King shares the view of changing the city skyline Two Alpha King projects located in District 1 are the Grade A office building Alpha Town and the integrated development Alpha City, including Alpha Mall and the luxury residential building Alpha Hill, will be launched in September 2018. The ceremony was held at Independence Palace, a historic building of Vietnam, with over 300 guests from Vietnam and other countries, including reputable real estate experts, foreign investors, as well as Vietnamese influencers in design, architecture, and arts, such as Ngo Thanh Van, Trong Hieu, Sy Hoang, and Dung Yoko. The event was held under the theme “Redefining the city’s skyline” with 3600, 3D visual and lighting effects inside a dome. Through the historic location and high-technology theme, … [Read more...] about Alpha King—international real estate developer officially launched in Vietnam
Real estate developers aim for green development
Sustainability and green are one of the most important factors for developers and investors to consider when developing their projects in Vietnam. According to Pannir Chelvam, senior director of Keppel Land Vietnam, there are many different criteria for green development within the real estate sector. Among these are reducing energy and water consumption, minimising a project’s carbon footprint and environmental impact. Real estate developers aim for sustainable development “All of these criteria are having been applied in our projects in Vietnam, to ensure sustainable development in the real estate sector,” Chelvam said. In the Sustainable Development Seminar themed “Green Strategy” held in Ho Chi Minh City on July 19, Palm City and Saigon Centre were held up as an example of a project applying green criteria in Vietnam. The seminar was organised as part of the strategy “Developing Sustainable Real Estate” The seminar was … [Read more...] about Real estate developers aim for green development
T&T Group completing real estate chain with new hospitality arm
T&T Hospitality will provide a diverse range of hotel and resort products Through the launch of this hotel management brand, T&T Group is gradually completing the ecosystem in its real estate development chain, aiming to exploit and manage its international-standard professional real estate system. Carl Johan Lindholm, general director of T&T Hospitality T&T Hospitality operates from the perspective of a harmonious unit of interest for the investor and owner, from project formulation to completion to ensure that it meets international five-star standards. T&T Hospitality is not merely a consultancy, but also a quick strategist in maintaining the viability and profitability of real estate through the promotion of rental properties and the sale of residential properties and real estate resorts, said Johan Lindholm, general director of T&T Hospitality. The new arm aims to provide a diverse range of hotel and resort products, each of which has its … [Read more...] about T&T Group completing real estate chain with new hospitality arm
Greening out real estate projects
Developers in Ho Chi Minh City are trying to realise the dream of greening out their real estate projects. Ho Chi Minh City is considered the leader in green real estate projects. Among those, Phuc Khang Construction and Investment Corporation is a pioneer in applying the American LEED green building standards in its two projects called Diamond Lotus Riverside (District 8) and Diamond Lotus Lakeview (Tan Phu District). In particular, Diamond Lotus Riverside handed over properties to more than 700 homebuyers by the end of 2017. In addition, the An Nhien Garden eco-urban complex, developed by Thang Loi Group, including the three sections An Phu-An Loc-An Dien, is a green community in the heart of the city with tree and traffic densities of nearly 40 per cent. EverRich Infinity of Phat Dat Real Estate Development Corporation, which is located in the centre of District 5, has been covered with green spaces surrounding the windows, not to mention a system of interconnected watercourses … [Read more...] about Greening out real estate projects
SBV restricts real estate and construction loans
Document 563 sought tighter control over credit growth to meet the SBV’s target of 17 per cent for 2018, Photo: Le Toan According to experts, real estate firms need to apply more effort to cope with more stringent lending requirements starting this year, and with the coming influx of new supply. The State Bank of Vietnam (SBV) recently asked credit institutions and local offices of foreign banks to give lending priority to production and business and to strictly monitor the acquisition of consumer loans that are used, in reality, for investment and trading in real estate and/or securities. SBV’s recent Document No.563/NHNN-TTGSNH, issued in January by SBV, asked for tighter control over credit growth in order to meet its target. The credit growth target for 2018 was set at 17 per cent, lower than the growth rate of 18.17 per cent the year prior. SBV Governor Le Minh Hung has instructed financial institutions to lessen the focus on real estate and construction and … [Read more...] about SBV restricts real estate and construction loans
Co-living and green: the latest trends to sweep Vietnam’s real estate market
Owning real estate will no longer be a priority for millenials across the world, who will make up half of the global workforce by 2020, according to PriceWaterhouseCooper's latest Millenials at Work report. The latest trends in real estate development show that environmentally-friendly and smart co-living and co-working models promise to change Vietnam's property market in 2018. Co-living Shared accommodation is forecast to be the leading trend, as co-living and co-working spaces are becoming more popular among young people. A recent report on Global Market Perspective by Jones Lang LaSalle Vietnam shows that the main target for shared accommodation is young people, and investments have started pouring in. Many co-working spaces have opened in Hanoi over the past few years. Photo courtesy of Toong co-working space. Just last year, Ascott Limited, an international serviced residence owner-operator, introduced a new co-living brand called … [Read more...] about Co-living and green: the latest trends to sweep Vietnam’s real estate market
Real estate results transfer to bourse
Sky-high prices2018 is expected to be a good year for real estate stocks in Vietnam as investors make their way back to an industry that has been troubled with oversupply, price bubbles, and rampant speculation.One catalyst for this revival is low valuation, according to Truong Hien Phuong, director at the Ho Chi Minh City Branch of KIS Vietnam Securities. Phuong pointed out that the price-per-earnings ratio of real estate stock now stands below 10, which is much below the Vietnamese average of 17 or 18. Savvy investors could make use of this opportunity to purchase stock at low prices.Indeed, some investors have already noted this and taken action, causing a boom in stock prices. According to figures released by KIS Vietnam Securities, in 2017, more than 80 per cent of real estate stocks have risen by at least 50 per cent in market value, some by 200 per cent.In notable cases, Dat Xanh Group’s (DXG) stock increased by 95 per cent; Van Phat Hung Corporation (VPH) grew by 96 … [Read more...] about Real estate results transfer to bourse