Property

Hong Kong plans to build one of the world's largest artificial islands with an eye-watering US$79 billion price tag, city officials announced Tuesday (Mar 19). Old and new residential housing blocks dotting Hong Kong's skyline. (Photo: AFP) The government's HK$624 billion proposal to reclaim 1,000 hectares of land around the territory's largest island, Lantau, has been touted as a solution to the pressing housing shortage in the city, which is notorious as one of the least affordable markets on the planet. Authorities said they hope to start work on reclaiming land in 2025, with an eye on allowing residents to move to the island in 2032. The artificial island - the city's most expensive infrastructure project to date - would be four times the cost of building Hong Kong International Airport, which opened on Lantau in 1998, and far outstrip Dubai's famous palm-tree shaped Palm Jumeirah, which reportedly cost US$12 billion to build. The man-made island would be nearly three … [Read more...] about Hong Kong to build US$79 billion artificial island

The real estate market in Mui Ne in Phan Thiet City in the south-central province Binh Thuan has been buzzing in recent times with many tourism property and transport projects being developed. Novaland’s NovaHill Resort in Mui Ne. Tourism property projects and huge development in transportation are attracting hordes of property investors to the area.-VNS Photo Traders told dantri.com.vn in fact that the situation was abnormal since the property market is often dull soon after the Lunar New Year. One broker said in the first month of the lunar year, which began in early February, while the HCM City, Ha Noi and Da Nang markets had been quiet, Mui Ne had been red-hot, something that had never happened before. Coffee shops on Huynh Thuc Khang and Vo Nguyen Giap streets were always full during weekends, he said. Brokers said the popular story at recent time in Mui Ne was how to earn money after buying land in the area. Huynh Huy Dung of HCM City said it took him half a day … [Read more...] about Mui Ne property market runs red hot

The flow of foreign direct investment (FDI) into property in the first months of 2019 promises to bring many new opportunities for the real estate market. The D’Capitale apartment blocks on Tran Duy Hung street in Hanoi (Photo: VNA) In January and February, foreign investors poured money into 18 fields, with processing and manufacturing attracting 6.93 billion USD, or 81.8 percent of total registered capital. Property ranked second with 478 million USD, 5.6 percent of the total. The Ho Chi Minh City Real Estate Association said in recent years, property has been among the top magnets for FDI, which has become a very important source of funding as capital flow from domestic banks has slowed in recent years. Chairman of the association Le Hoang Chau said FDI is not only an additional source of funding for the real estate market, it also creates many opportunities and value for property firms. Economist Nguyen Tri Hieu said over the last three years, FDI inflow into … [Read more...] about FDI inflow promises bright prospect for property sector

The Global Real – Interhome – a solution provider for real estate services in the US and Australia – has just become the official representative of Lennar in Vietnam. Lennar is one of the biggest real estate developers in the US. Interhome and Lennar will organise a seminar with the theme “Sharing new views on the US real estate market” on March 23, 2019 in Ho Chi Minh City. This seminar will share information on high-quality property projects, as well as investment opportunities of owning and doing business in US-based properties. Lennar has provided more than one million houses to buyers The potential in property development in the US is huge and has attracted many foreign investors, especially those from Vietnam. Global Real – Interhome is a pioneer in providing comprehensive solutions for US-based properties and in being a connection for Vietnamese investors who want to buy properties abroad. Not only bringing about potential property … [Read more...] about Global Real – Interhome and Lennar attract homebuyers from Vietnam

More foreigners are buying apartments and investing in real estate in Vietnam, especially in HCM City, with most of them coming from mainland China, Japan, Singapore and South Korea. Many foreigners are buying property in Viet Nam, especially in HCM City. Most of them are from mainland China, Japan, Singapore and South Korea.-VNA/VNS Photo Ngo Quang Phuc, general director of Phu Dong Group, said that since the amended Law on Housing 2014 took effect in 2015 the domestic property market has seen increased interest from foreign buyers. From 2008 to 2014, only 126 foreigners bought property in Vietnam. In 2014, the Ministry of Construction reviewed the policy on allowing foreigners to buy property in the country and amended the regulations in the Law on Housing. Many apartments in major projects in HCM City like the luxury Centennial Bason, The Grand Manhattan and Alpha City in District 1, with prices between US$6,000 and US$ 10,000 per sq metre, have been bought by foreigners. … [Read more...] about More foreigners buying apartments in HCM City