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[2009-06-30] Real estate projects must now catch up with property demands

Real estate projects must now catch up with property demands (Listed Jun 30, 2009) Chairman of the National Assembly Economics Committee Nguyen Duc Kien spoke to Thoi Bao Kinh Te Viet Nam (Vietnam Economics Times) about recent recovery in the real estate market.Why has there been a spike in land prices for certain projects, with price ranges increasing from 30 to 40 percent over those at the beginning of 2009?The increase in price of real estate property is due to two reasons. Firstly, the Gov...
[2009-06-30] Time-share vacation apartments and villas multiply on central coast

Time-share vacation apartments and villas multiply on central coast (Listed Jun 30, 2009) Wealthy Vietnamese are buying villas and apartments in coastal resort projects and using them to serve both their vacation and investment needs.Purchasing apartments and villas both to stay in and to earn moneyIn years past, rich people in big cities would buy land in the countryside or at the beach and build villas where they would stay just a few days a year on holiday.   However, these days, ...
[2009-06-30] Heating property market an opportunity for wood products

Heating property market an opportunity for wood products (Listed Jun 30, 2009) Vietnamese wood product makers should take advantage of the warming local property market to spark growth as export demand dwindles, said industry insiders at a meeting last week.Though the global economic slump has cut into international sales, domestic demand for wood construction products has been rising as the property market heats up and more people buy new homes and property, said members of the Handicraft and...
[2009-06-30] Bidding to improve project transparency

Bidding to improve project transparency   (Listed Jun 30, 2009) Ho Chi Minh City’s property bidding environment is likely to improve on the back of its controversial golden sites pilot programme.The city’s Department of Planning and Investment (DPI) last week proposed a draft bidding evaluation criteria, which set a 100-mark assessment of bidder’s investment ideas such as objectives, scale, construction timeline, and socio-economic effectiveness (20 marks), real est...
[2009-06-30] Could subsidised funds be entering the bourse?

Could subsidised funds be entering the bourse?   (Listed Jun 30, 2009)   Speculation is mounting government subsidised funds are entering the stock market. At a recent economic conference, general director of Artex Securities Company Phan Van Ha asked: “The stock market has been rallying irrationally since the beginning of 2009.The local market rally has stumped some analysts Could it be that government subsidised funds were trying to find a way into the stock market?&rdquo...
[2009-06-29] Buyers advised rational behavior in real estate market

Buyers advised rational behavior in real estate market (Listed Jun 29, 2009) As the real estate sector warms up and anxiety rises about inflationary prices, Deputy Minister of Construction Nguyen Tran Nam says buyers should rely on professional advice and not bank on market rumors.  “After a long freeze [over the past year], the number of property transactions and prices have edged up. It is inevitable,” Nam said.He said the real estate market recovery is backed by high housin...
[2009-06-29] City reclaims misused public land

City reclaims misused public land (Listed Jun 29, 2009) Southern Food Corporation found to have illegally rented out houses meant for officesDozens of houses and lots on land used by the Southern Food Corporation in HCM City was reclaimed when it was found they were being rented and not used for offices.In its decision to reclaim the land, the municipal People's Committee said the violations were among the hundreds unearthed during a campaign to supervise public-land use run by the Ministry of...
[2009-06-29] Resort villas sell like hot cake

Resort villas sell like hot cake (Listed Jun 29, 2009) Buying apartments in high-end resorts and hotels has become big business in Viet Nam. Investments usually show quick profits for wealthy investors.Nam Hai beach resort in central Quang Nam Province was one of the first resorts to develop the business. The resort is divided into a 60-room hotel and 40 villas. Thirty-six of the villas were sold to secondary investors. Prices have tripled in five years.Indochina Capital's soon-to-opened Hyatt...
[2009-06-29] Why property developers flock to Da Nang

Why property developers flock to Da Nang (Listed Jun 29, 2009) Signs of economic recovery have led to new foreign investment in property development projects, including apartments, office blocks, high-end hotels and resorts in central Da Nang City.Most of the projects will be completed in the next two or three years, and will be jointly invested in by renowned names such as Hyatt, Intercontinental and Raffles.Aware of the promising profit in property market in the city, several multinational g...
[2009-06-26] FDI should be kept at safety level

FDI should be kept at safety level   Thứ Sáu, 26/06/2009   Along with domestic investment sources, Vietnam needs to set up funds to mobilise and manage foreign investment capital for national economic development, according to market and economic researchers.Bui Kien Thanh, a senior financial and economic expert, shares his views in a recent interview granted to VOVNews. VOVNews: What do you think about domestic investment and FDI flows into Vietnam in the next few years...
[2009-06-26] HCM City apartment market: second wave of big sales kick-off

HCM City apartment market: second wave of big sales kick-off   Thứ Sáu, 26/06/2009   Following the big sale campaign earlier this year, when the prices of apartments were lowered by 30-50 percent, real estate developers have just kicked off a new big sale campaign.On June 24, more than 100 apartments of Blue Sapphire project in Binh Phu new urban area in district 6 were officially put on sale. The starting price of 12.9 million dong per square metre announced by the in...
[2009-06-26] With VN awash in “billion-dollar projects,” Government may curb local approval powe

With VN awash in “billion-dollar projects,” Government may curb local approval powers   Thứ Sáu, 26/06/2009   Permits for seventy two billion dollars worth of new foreign investment were granted in 2008, but only $4 billion worth of capital has been materialized over the last six months.It seems that Vietnam is dizzy with the pledges and not paying attention to the actual results of the current licensing scheme. The Government is considering taking back som...
[2009-06-26] New roadwork likely to create more mayhem for HCM City

New roadwork likely to create more mayhem for HCM City   Thứ Sáu, 26/06/2009   The constant congestion on HCM City’s streets could worsen with more roads throughout the city set to be dug up for infrastructure work in the coming months.The Department of Transport said more than 33 kilometres on 23 streets, including some main ones, would see work this year.Nam Ky Khoi Nghia, Phan Dinh Phung, February 3, Ly Thuong Kiet, Ly Thai To, and Tran Quang Khai will be amon...
[2009-06-26] Hanoi establishes new OTC market

Hanoi establishes new OTC market   Thứ Sáu, 26/06/2009   The Hanoi Securities Trading Center’s new over-the-counter market, known as UpCom, which aims to “enhance transparency” and “protect the interests of investors,” opened on June 24 in Hanoi. About twenty companies will initially trade on the new floor, including Saigon Commercial Joint Stock Bank and Thanh Cong Securities Inc. The number is expected to hit 200 by September.Price moves...
[2009-06-25] The private-invested apartment fever in Hanoi

The private-invested apartment fever in Hanoi   Thứ Năm, 25/06/2009   Private-invested apartments in Hanoi have become ‘hot goods’ these days as they offer accommodations at very attractive prices.Private-invested apartments are apartments built and sold by individual investors. The apartments are mostly located on land plots of 200-300 sq m, with no schools or health care stations nearby.They are mostly located in small alleys which cars cannot enter. Therefore,...
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