Property

Low-cost housing developments await preferential loans The Saigon Times Daily A low-cost condo project is seen in HCMC’s Tan Binh District. Despite strong demand for low-cost apartments in major cities, property firms have shown little interest in this segment due to potential problems – PHOTO: TL HCMC - Despite strong demand for low-cost apartments in major cities, property firms have shown little interest in this segment due to potential problems, according to a report by Dau tu Tai chinh. HCMC alone has some 274,600 workers, of whom 69% are migrant workers. Only 8.54% of those migrant workers stay in dorms built by employers. Most workers have to rent cheap rooms that lack basic amenities and safety features. In addition, 80% of some 500,000 students in HCMC come from other localities, whereas very few universities are able to provide sufficient space in their dormitories for them. According to the HCMC Institute for Development Studies, up to 81,000 households … [Read more...] about Low-cost housing developments await preferential loans

Banks hike interest rates of home loansThe Saigon Times Daily A view of condo projects in HCMC. Commercial banks have carefully assessed real estate projects before providing loans – PHOTO: TL HCMC - Most of the local banks have further tightened credit for the real estate sector by raising the annual interest rates for home loans by one to two percentage points compared with earlier this year, leading the sector to slow down, reported Sai Gon Giai Phong newspaper. Vietnam Export Import Bank’s current interest rate for home buyers is 11%, up by one percentage point. Meanwhile, the rates are 11.5-12% at Orient Commercial Bank, Saigon-Hanoi Commercial Bank and VietCapital Bank, and 12.5% at Saigon Thuong Tin Commercial Bank and Viet A Commercial Bank. In addition, banks have carefully assessed real estate projects before providing loans, which are equivalent to 30-50% of the property project values instead of the earlier 70-80%. In HCMC, many banks have provided … [Read more...] about Banks hike interest rates of home loans

Nam Long announces cooperation on mega residential complex in Long AnBy Nhu Phu Representatives of the four investors -TBS Group, Tan Hiep Company, Nam Long Group and Nishi Nippon Railroad - sign a cooperation agreement on the first phase of Waterpoint - PHOTO: COURTESY OF NAM LONG HCMC – Nam Long Group has announced its strategic cooperation with three other investors to develop the first phase of Waterpoint Township, a mega ecological residential area in Long An Province. At a signing ceremony on July 14, the investors, including Nam Long Group, Nishi Nippon Railroad, TBS Group and Tan Hiep Investment Company pledged to contribute to the total investment capital of VND6.9 trillion, or some US$300 million, to develop the first phase of Waterpoint Township, with proportions of 50%, 35%, 10% and 5%, respectively. Waterpoint Township is considered one of the milestones of the Nam Long Group, proving the corporation’s internal strength as well as its ability to … [Read more...] about Nam Long announces cooperation on mega residential complex in Long An

MBLand Holdings has promised to apply automatic parking technology in the basement floors of the Golden Field My Dinh project to increase parking slots, but has not followed up on its commitments, while the walls of several apartments were cracked a couple of months after being finished.  MBLand's Golden Field My Dinh located in My Dinh 1 urban area Residents could move in to the thirty-storey Golden Field My Dinh building with 389 premium apartments on the corner of Nguyen Co Thach-Ham Nghi streets, South Tu Liem district, Hanoi from the first quarter of 2018. However, the local authorities have pointed out a number of violations of the fire code. Additionally, residents of the building complained about the quality of building, service fees, and compliance with the project design. According to a complaint letter of Golden Field My Dinh residents, the developer of this building has violated regulations of Decision No.1969/QD-UBND dated April 22, 2016. In essence, the … [Read more...] about MBLand Holdings comes under fire for sub par premium apartments

MBLand Holdings has promised to apply automatic parking technology in the basement floors of the Golden Field My Dinh project to increase parking slots, but has not followed up on its commitments, while the walls of several apartments were cracked a couple of months after being finished.  MBLand's Golden Field My Dinh located in My Dinh 1 urban area Residents could move in to the thirty-storey Golden Field My Dinh building with 389 premium apartments on the corner of Nguyen Co Thach-Ham Nghi streets, South Tu Liem district, Hanoi from the first quarter of 2018. However, the local authorities have pointed out a number of violations of the fire code. Additionally, residents of the building complained about the quality of building, service fees, and compliance with the project design. According to a complaint letter of Golden Field My Dinh residents, the developer of this building has violated regulations of Decision No.1969/QD-UBND dated April 22, 2016. In essence, the … [Read more...] about MBLand Holdings come under fire for sub par premium apartments

Manufacturing opportunities rising in Vietnam: Savills VietnamBy Thanh Thom A bird's eye view of the industrial park VSIP-I located in Binh Duong Province. According to Savills Vietnam, the local industrial real estate sector is forecast to boast a bright future - PHOTO: VSIP HCMC – Growing foreign direct investment (FDI) and a move up the value chain mean Vietnam’s industrial real estate sector has a bright future, according to real estate services provider Savills Vietnam. “This is very fertile ground,” said Troy Griffiths, Savills deputy managing director for Vietnam. “We see a lot of FDI in manufacturing from Japan, South Korea, Singapore and Thailand.” Vietnam attracted FDI flows of US$35.6 billion last year, up a hefty 44.4% from the previous year, with Japan contributing the largest, at US$9.11 billion. FDI flows in the manufacturing and processing industry made up a whopping 44.2% of the total. Asian manufacturers want to take … [Read more...] about Manufacturing opportunities rising in Vietnam: Savills Vietnam

Darling Harbour is a landmark cultural, architectural and entertainment district in Sydney, Australia. It is world-renowned for its prime location, modern designs and sophisticated urban lifestyle. Like Darling Harbour, The Metropole Thu Thiem, situated in the heart of the Thu Thiem New Urban Area, will shape a new metropolitan lifestyle for Vietnamese young and wealthy generations. Overall view of Darling Harbour Sydney, Australia Great connections The Metropole Thu Thiem could be considered a close sibling to Darling Harbour, surrounded by a beautiful river, modern infrastructure, and instantly iconic new landmarks. Its connections are ideal, including four vehicular bridges and one pedestrian bridge over the Saigon River. In addition to these links, Metro Line 2 will allow residents to easily connect to central District 1 and other exciting neighborhoods. Architectural and cultural icons Darling Harbour is famed for its exhibition space and convention centre, as well as … [Read more...] about The Metropole Thu Thiem—Darling harbour version of Vietnam

H1 foreign investments in property exceed 2017By Hung Le A view of housing buildings in Phu My Hung new urban development in HCMC’s District 7 – PHOTO: QUOC HUNG HCMC - Foreign direct investment (FDI) capital pledged for Vietnam’s property market in the year’s first half witnessed a big surge and was higher than total pledged capital of the entire year of 2017, according to national investment data. Data of the Ministry of Planning and Investment’s Foreign Investment Agency shows that the property sector attracted the second highest registered FDI capital in January-June with over US$5.5 billion, or over 27% of total registered capital in the period. Meanwhile, last year recorded only US$3.05 billion pledged for the sector, equivalent to some 8.5%. Among large-scale property investments is the smart town project worth more than US$4 billion in Hanoi’s outlying district of Dong Anh. Developed by a Japanese investor, it is the most … [Read more...] about H1 foreign investments in property exceed 2017

The apartments for sale segment in both Hanoi and Ho Chi Minh City saw a downturn in the first half of the year. Impacted by increasing supply sources, the apartments for sale segment in both Hanoi and Ho Chi Minh City saw a downturn in the first half of this year. The Ho Chi Minh City market welcomed an additional 6,109 condominium units in the first half, a decrease of 36 per cent year-on-year. Ho Chi Minh City saw 36 per cent fewer new launches in the first half than last year The mid-end segment witnessed the biggest decrease in new launches in the second quarter, with a fall of 62 per cent quarter-on-quarter and 52 per cent year-on-year. The reason for this downturn, according to Thanh Pham, senior manager of CBRE Vietnam, was the impact of the fire at the end of March which has put a strong focus on safety in condominium projects and made the process of obtaining the relevant safety certificates more stringent. This incident also made many buyers hesitant to buy units … [Read more...] about Apartments for sale on downturn in first half of 2018

Fire scare possible cause of condo sales dropBy Thanh Thom A bird’s eye view of Thu Thiem New Urban Area from the other side of the Saigon River – PHOTO: THANH HOA HCMC – Condominium sales in HCMC sharply declined in the April-June period, possibly due to a deadly fire in late March, according to a Q2 report on the HCMC market by commercial real estate services and investment firm CB Richard Ellis Vietnam (CBRE Vietnam). In the second quarter of this year, the number of extra condominium units in the city decreased by 36% from a year earlier to a total of 6,109. However, new supply for the period still rose by 5% year-on-year. Notably, the mid-end segment witnessed the greatest decline in new launches in the period, down 62% quarter-on-quarter and 52% year-on-year. According to CBRE Vietnam, a blaze at the Carina Plaza condo complex in the city’s District 8 in late March, which claimed 13 lives, has put a stronger focus on safety measures in … [Read more...] about Fire scare possible cause of condo sales drop