Property

The property market in the southern province of Binh Phuoc is expected to heat up because of industrial zone planning from now to 2030, according to experts. The property market in the southern province of Binh Phuoc is expected to heat up because of new industrial zones. - VNS Photo Van Chau The province plans to establish 35 industrial clusters in its 11 districts and towns by 2030, whose combined capital requirement will be VND5.9 trillion (US$260 million). Of the 35 clusters, 21 will be built on ​​583 hectares of land in the 2020-25 period as well as Hoa Lu Border Economic Zone with a total area of 28,000ha. From 2025 to 2030, another 14 industrial clusters will be set up across another ​​580 hectares. Industries that will be developed within these clusters include agro-forestry product processing, and manufacture of rubber and plastic products, metal products, electronic products, engine vehicles, textiles and apparel. These clusters are expected … [Read more...] about Property market heats up in Binh Phuoc

Developers and residents must follow regulations carefully Vietnam Investment Review and Venus Corporation will organise a seminar on the management and operation of multi-owned properties including high-rise apartment buildings and ­complex urban development areas. With a theme of multi-owned property operation and seeking consensus, the ­seminar will be held on June 25 at Eastin Grand, 253 Nguyen Van Troi street in Phu Nhuan district of Ho Chi Minh City. Ngo Quang Phuc, general director of Phu Dong Real Estate JSC, said that conflicts at high-rise apartment buildings mostly come from very small disputes. However, these small spats can escalate immensely and bring about negative consequences for both developers and buyers. One of the most efficient solutions was to set up a special team of technicians to support residents 24/7. “All problems must be resolved as soon as possible in order to avoid escalating conflicts between developers and buyers,” he … [Read more...] about Slick action required by developers

Indochina Capital is the strategic advisor of The Zei project According to a report by real estate consultancy CBRE, the first quarter of 2019 witnessed increasing hype of the landed property market in Hanoi. A total of 2,641 newly-launched units were recorded, the highest level of new supply in any quarter over the last three years. Despite the Tet break, sales transactions remained strong during the quarter. In particular, some projects in the western part of the capital have caught the eyes of foreign investors, displaying huge demand for the high-end property segment. At a market update event for the first quarter of the year, Nguyen Van Dinh, deputy general secretary of the Vietnam Real Estate Association (VNREA), said that transactions for luxury residential properties are largely driven by overseas investors’ demands. According to Vu Cuong Quyet, general director of Dat Xanh North JSC, at present, the supply of luxury properties is not keeping up with the demand of … [Read more...] about The Zei caters to demanding buyers

Nguyen Quoc Hung, director of the SBV’s Credit Department Nguyen Quoc Hung, director of the SBV’s Credit Department, talked with the media about the issue during a meeting last week Some are concerned about the draft that will replace Circular 36/2014/TT-NHNN, saying it could have adverse impacts on the real estate market. What do you think? The draft circular amends a number of regulations related the capital safety ratio in the operation of domestic and foreign banks in Viet Nam. The revision includes a reduction of the ratio of short-term capital for medium- and long-term loans. Under the three-phase roadmap lasting until 2022, the maximum ratio of short-term funds used for medium- and long-term loans will be reduced to 30 per cent by July 1, 2020. The regulation will be applied to loans in all sectors of the economy, not only the real estate sector. The change will help the SBV control liquidity risks to ensure the safety of the banking industry in the face of … [Read more...] about New SBV regulation to help realty market grow sustainably

Experts have sounded the alarm over the development of the condotel segment in Vietnam after the first project was forced to revise the ownership duration which it had issued to buyers. The legal framework for condotels is expected to be introduced before the end of the year, Photo: Le Toan Located in the central city of Danang – one of the cities with the highest number of condotels currently, 586 Company is the owner of a land area which was approved by the local authorities for manufacturing, trading, and service activities and includes condotel units. In 2008, Danang authorities issued permanent ownership over the condotel units to the buyers of this project. However, the Government Inspectorate last week announced that this condotel project was not permitted to issue permanent ownership to buyers because the units’ approved function is leasing, not living. Danang authorities therefore had to revise the unlimited ownership to a duration of 50 years, which is … [Read more...] about Unease over condotel ownership issue