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[2009-07-03] Private home buyers face high legal risks
Private home buyers face high legal risks
(Listed Jul 3, 2009)
Private residential buildings, a new kind of housing in big cities, have become good choices for low-income people due to their affordability and central locations. However, they also pose a high risk of legality for buyers, according to real estate experts.Private residential buildings, or small multi-apartment buildings, are built and sold by an individual who owns his/her land-use right certificates. They are... |
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[2009-07-03] Plan on ambitious border economic zone gets approval
Plan on ambitious border economic zone gets approval
(Listed Jul 3, 2009)
Prime Minister Nguyen Tan Dung has approved a master plan to build the region along the border with Cambodia into a major economic zone.Under the ambitious scheme, the southwestern border areas, comprised of four provinces in the Central Highlands and six provinces in the southern region, will be developed into an economic zone of national and international importance by 2020.The border economic zone ... |
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[2009-07-03] Tax policies needed for real estate transactions
Tax policies needed for real estate transactions
(Listed Jul 3, 2009)
“Taxes should be imposed on transactions made by real estate enterprises and brokers”, says Nguyen Duc Kien, a permanent member of the National Assembly's Economic Committee.There has been a sharp rise of about 15 to 30 per cent in land prices in Hanoi over the past few months. Nam Cuong Real Estate Company said that they have decided to increase the prices of land for villas and houses in Duong Noi residential p... |
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[2009-07-03] HCMC overspends budget by huge margin due to slow construction
HCMC overspends budget by huge margin due to slow construction
(Listed Jul 3, 2009)
Slow and inefficient infrastructure projects cost the Ho Chi Minh City VND200 billion more than planned last year, according to the municipal Economy and Budget Department under the People’s Council.Preliminary statistics from the HCMC Department of Planning and Investment showed that 69 delayed projects cost the city VND2.86 trillion (US$161 million) in total last year.Among them was the Nguy... |
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[2009-07-02] Raising steel prices does more harm than good
Raising steel prices does more harm than good
(Listed Jul 2, 2009)
Domestic steel producers have been warned against raising sale prices, since price increases would pave the way for cheap imported steel products to flock into the domestic market.According to the Vietnam Steel Association (VSA), by June 15, Vietnam had imported nearly 200,000 tonnes of coil steel this year, 70 percent from ASEAN countries. It had sale prices that were 500-700,000 per tonne lower than domest... |
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[2009-07-02] Sacomreal offers land plots for villas in Binh Thuan
Sacomreal offers land plots for villas in Binh Thuan
(Listed Jul 2, 2009)
Sai Gon Thuong Tin Real Estate Joint Stock Company, or Sacomreal, yesterday started selling land plots for villa development in a tourism property project named Casale Hills which is under development in Ham Tan District in the south central coast province of Binh Thuan.Sacomreal, exclusive agentto the project, says that 124 land plots, some as large as 575 square meters, are on the market with prices starting from VND3.... |
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[2009-07-02] City not taking proper care of displaced residents
City not taking proper care of displaced residents
(Listed Jul 2, 2009)
District authorities in Ho Chi Minh City are not very keen on helping residents displaced by development projects to stabilize their lives with jobs and decent homes, say city councilors.Recent inspections carried out by officials of the Economy and Budget Department of the HCMC People's Council found that most displaced residents have received neither proper resettlement housing nor jobs in their new neighborhoods.Under i... |
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[2009-07-02] Incentives proposed for workers' housing projects
Incentives proposed for workers' housing projects
(Listed Jul 2, 2009)
Provinces and cities nationwide have registered nearly 570 housing projects worth over VND80 trillion (US$4.4 billion) for students, workers and low-income earners for the 2009-2015 period, according to the Ministry of Construction.The list includes 270 projects worth over VND26 trillion ($1.4 billion) to house students from 2009-2010.There are 110 projects worth nearly VND25.6 trillion to build housing for workers and 190 ... |
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[2009-07-02] Cushman & Wakefield: Office rent in city remains high
Cushman & Wakefield: Office rent in city remains high
(Listed Jul 2, 2009)
The average office rent in HCMC, especially at prime locations, is still higher than the reasonable level even though it has fallen sharply in the year to date, according to the general manager of the real estate services firm Cushman & Wakefield (Vietnam) Ltd.The office rent is expensive in certain areas in the city, Toby Dodd told a real estate business luncheon organized by the European Chamber of Commerce in... |
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[2009-07-01] Real estate market report (June 19th, 2009 – June 25th, 2009) Are property prices “
Real estate market report (June 19th, 2009 – June 25th, 2009) Are property prices “being inflated”?
(Listed Jul 1, 2009)
Last week, the property market in Hanoi and HCM City continued to be ‘hot” in some areas. However, many experts warned that when the more property prices increase partially, the more prudent buyers must be to avoid falling into “price inflation” trap of brokers and investors.According to information from the speculators, from early J... |
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[2009-07-01] Foreign investment target in reach
Foreign investment target in reach
(Listed Jul 1, 2009)
Phan Huu Thang, head of the Ministry of Planning and Investment’s Foreign Investment Agency, spoke to Hai Quan (Customs) newspaper about the country’s ability to attract foreign direct investment.According to a recent report, the country attracted much less FDI in the first half of the year, compared to last year. What is your opinion?Looking through figures for the first six months of this year, there have not been any impres... |
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[2009-07-01] Lack of infrastructure in economic zone deters investors
Lack of infrastructure in economic zone deters investors
(Listed Jul 1, 2009)
A number of investors are hesitating to pour their money into the Nhon Hoi Economic Zone because of slow construction in the area."Some foreign partners of my company have plans to invest in the zone but they’re hesitating because infrastructure has not yet met their requirements," said Hong Yeung-Vietnam Company’s Tu Boi Phong.The Khang Thong Commerce and Trade Company was granted a tax-free investment l... |
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[2009-07-01] Japan-Vietnam alliance to advise high-speed railway project
Japan-Vietnam alliance to advise high-speed railway project
(Listed Jul 1, 2009)
An alliance between a Japanese and a Vietnamese consultancy firm has been chosen to study the feasibility of a high-speed railway project to link Hanoi and Ho Chi Minh City.State-run Vietnam Railways, the investor, has tasked Japan’s Tonichi Engineering Consultants Inc. and Hanoi-based Railway Construction and Investment Consultant JSC consulting firms to assess the US$33 billion railway plan in one month.Th... |
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[2009-07-01] Former shipping chief urges Van Phong Port developers to ‘think big’
Former shipping chief urges Van Phong Port developers to ‘think big’
(Listed Jul 1, 2009)
Construction of Van Phong Port is set to begin in northern Khanh Hoa province in the near future. Dr. Chu Quang Thu, former head of the Vietnam Maritime Bureau (Vinamarine), warned that the developers are aiming too low. He says the site has the potential to become another Singapore.Known up until now principally as a scuba diving paradise, Van Phong Bay, some 100 kilometer... |
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[2009-07-01] GTZ, Siemens assist HCMC in transport groundwork project
GTZ, Siemens assist HCMC in transport groundwork project
(Listed Jul 1, 2009)
German Technical Cooperation (GTZ), Siemens and the Ho Chi Minh City Institute for Development Studies (HIDS) launched Monday a transport project in HCMC.The project will focus on the quality of transport infrastructure, traffic synchonization and management, HIDS Director Nguyen Trong Hoa said.During the first year, project workers will conduct research to map out future traffic conditions for HC... |
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