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[2010-04-22] Soaring property prices start to slow in Singapore but 20% growth predicted in 2010
Soaring property prices start to slow in Singapore but 20% growth predicted in 2010
(Listed Apr, 22, 2010)
Soaring property prices in Singapore are slowing a little but are still on target to increase by up to 20% in 2010, according to analysts. The government’s anti-speculative measures for the property market appear to have slowed growth with prices rising 5.1% in the first quarter of 2010, down from 7.4% in the previous three month period, the figures from the Urban Redevelopment Auth... |
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[2010-04-19] Five steel producers fined for rapid price hikes
Five steel producers fined for rapid price hikes
(Listed Apr, 19, 2010)
The inspectors of the Ministry of Finance has imposed fine on five out of the six steel companies it inspected. According to the inspectors, construction steel from the inspected companies increased sharply in price during the first three months of 2010. By March 23, the price increased by 13 percent, nearly double the average increase for all of 2009. From March 15 to March 23, when companies were being inspected, the Vie... |
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[2010-04-19] Office developments to be left out in the cold
Office developments to be left out in the cold
(Listed Apr, 19, 2010)
Office buildings outside of the Hanoi’s central business district will face more difficulties seeking tenants. Property consultant Savills Vietnam predicted that in the next four years nearly 1.9 million square metres of additional office space from about 120 projects would come online in the capital city. Ninety-five per cent of new space would be out of the central business district (CBD). “This will be a very... |
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[2010-04-19] Low demand for high-end property market in Hanoi
Low demand for high-end property market in Hanoi
(Listed Apr, 19, 2010)
The property market in Hanoi is seeing a decline in both demand and rental rates of office, serviced apartments and hotels, in contrast to the residential segment, a recent survey has found. The survey, done by the CB Richard Ellis Group, the world’s largest commercial real estate services firm, found that monthly office rents have declined slightly in Grade A buildings, with a 3.55 percent drop quarter-on-quarter ... |
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[2010-04-19] Vietnam’s tallest high-rise to open in Oct, says owner
Vietnam’s tallest high-rise to open in Oct, says owner
(Listed Apr, 19, 2010)
A 68-level skyscraper currently under construction in Ho Chi Minh City will be inaugurated this October as the country’s tallest high-rise, providing more office space in the southern economic hub, the building owner said Thursday. The Bitexco Financial Tower, with a shape of a lotus bud, is situated in a prime location in the city’s center, just a few steps from the Saigon River bank in District 1... |
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[2010-04-19] NA Standing Committee discusses super-railway project
NA Standing Committee discusses super-railway project
(Listed Apr, 19, 2010)
The North-South express railway project, expected to be developed in over 20 years with a total investment of US$55.8 billion, has yet to prove convincing in terms of capital efficiency, said many National Assembly Standing Committee members. They made the statement at a meeting held April 17 in Hanoi, where discussions focused on investment sources, efficiency, and safety of the project after Transport Minist... |
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[2010-04-16] Rising tenant demand makes UK property landlords more confident as more plan to buy
Rising tenant demand makes UK property landlords more confident as more plan to buy
(Listed Apr, 16, 2010)
A growing proportion of UK landlords are planning to buy more property as demand from tenants increase, according to experts. Some 12% of landlords plan to purchase investment property in the second quarter of this year, compared with 10% in the previous three months and 25% say that tenant demand has grown in the first three months of 2010, the latest Paragon PRS Trends Report shows. The... |
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[2010-04-16] Office rent decline continues in Q1
Office rent decline continues in Q1
(Listed Apr, 16, 2010)
Average office rent at all grades in HCMC and Hanoi continued falling in the first quarter of this year and is expected to continue the downtrend in the coming time because of abundant supply in the market, according to market research companies. Savills Vietnam released a quarterly report on Tuesday, saying HCMC’s average office rent at all grades and in all districts in the first quarter of this year fell 3% from the previous q... |
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[2010-04-16] Further fall for Dubai property prices predicted by experts but there are signs of
Further fall for Dubai property prices predicted by experts but there are signs of rental recovery
(Listed Apr, 16, 2010)
Property prices in Dubai are expected to fall further in 2010 due to oversupply, according to a new poll, but rental prices are rising and expected to hold their own. Dubai real estate prices set to fall 10% more this year and not recover until 2012 as the resumption of some projects and completion of others weigh on an already oversupplied market, according to the poll by ... |
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[2010-04-15] Interest rates slide, businesses still hesitate
Interest rates slide, businesses still hesitate
(Listed Apr, 15, 2010)
Commercial banks have committed to cutting lending interest rates, but the decreases are not big enough to create a bandwagon effect among companies in Vietnam. The latest report by the State Bank of Vietnam (SBV) revealed that many commercial banks will lower interest rates, while others have already slashed them. The number of the banks committed to ease interest rates by late last week reached 15. These include big sta... |
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[2010-04-15] Montana Apartment investor disappears
Montana Apartment investor disappears
(Listed Apr, 15, 2010)
People who paid billions of dong to purchase apartments at the Montana Apartment project in HCM City are alarmed because the project’s investor has disappeared after receiving their money.
The Montana Apartment project is headed by Ngan Thanh Garment Import-Export Services Company. Construction began in December 2008 and the company promised to complete the apartments by October 2010.
Advertised as high-grade apartments w... |
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[2010-04-15] Phu Quoc starts seaport project
Phu Quoc starts seaport project
(Listed Apr, 15, 2010)
Toan Hai Van Joint Stock Company, a major shareholder of Toan Thinh Phat Architecture Investment Construction Joint Stock Company, began construction on the Vinh Dam project in Kien Giang Province’s Phu Quoc District last week. The project, which includes a cargo port, industrial zone, traditional trade village, entertainment area, resort, restaurants, and public services, will cover an area of 350 hectares. It is funded with VND1.2 ... |
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[2010-04-15] Apartment buyers anxious after building owner absconds
Apartment buyers anxious after building owner absconds
(Listed Apr, 15, 2010)
The owner of The Montana Apartment building in Ho Chi Minh City’s Tan Phu District has reportedly been unreachable since construction on the project was halted in February, worrying apartment buyers who have paid money in advance. Phan Tan Phat, general director of Ngan Thanh Joint Stock Co., the project’s owner, has failed to respond to all correspondence from anxious apartment buyers. The building, loca... |
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[2010-04-14] China real estate market 'overheating'
China real estate market 'overheating'
(Listed Apr, 14, 2010)
China's real-estate market is overheating and investors should stay cautious on developers after the shares fell the most in the main equities index this year, according to Nomura Asset Management Hong Kong Ltd. "In the first-tier cities, property markets are obviously overheating," Shen Xiaomin, portfolio manager at Nomura Asset, said on Monday. "There is too much money in the economy," Shen said.Property prices in China rose at t... |
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[2010-04-14] Foreigners hold 90 percent of real estate service market
Foreigners hold 90 percent of real estate service market
(Listed Apr, 14, 2010)
The real estate service market (marketing, distribution, assessment, investment consultancy and real estate project management) is now in the hands of foreign companies.Foreign control Real estate developers can generally sell products only when they use distribution services provided by foreign companies. According to the director of a real estate firm in HCM City, there “Big Three” are CBRE Vietnam, ... |
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