Posco engineering to build $3 billion city in Vietnam

Posco is among developers and investors betting on Vietnam’s property market as the local share market declines and concerns intensify about a global housing slowdown, the Journal said.

Keangnam Enterprises Co., another South Korean company, is building the $1 billion, 72-story Pride Tower in Hanoi, the news-paper said.

HCM City’s real estate market will continue its high growth

Meanwhile, according to General Secretary of HCM City Real Estate Association Do Thi Loan, it would be necessary to apply a synchronous measure to reduce the heat of the market.

She said in the long term it would be necessary to accelerate construction progress of existing projects to increase supply to the market while triggering demand for real estate in outlying areas to reduce the population density in the city.

Israel’s Alony Hetz to set up a fund investing in Vietnamese real estate

“The overall outlook of the Vietnamese property market remains bright owing to the accelerated economic growth in the country,” said Nathan Hetz, founder and chief executive officer of Alony Hetz.

Progressive taxation of real estate will help control land development

I think these standards are for reference only because most Vietnamese who have their own houses cannot afford a tax rate of 1 or 1.5 per cent like people in European or other Asian countries.

At present, there are several problems with imposing taxes on land use.

Vietnam 2007’s real estate market hot, 2008’s market will be hotter

VietNamNet Bridge – The real estate market was really scorching in 2007, which makes people believe that it would be burning in 2008. It is expected that 40 foreign investment funds will disburse $20bil worth of capital into the market this year.

Expats not immune to Vietnam property price fever

Vietnam’s property price fever is infecting not only locals and the national media. It’s getting foreigners and overseas media hot and bothered as well.

Singapore-based The Straits Times ran a report in November headlined “Vietnamese feel the pinch of red-hot home prices.” Roger Mitton, the correspondent in Hanoi, tells a story of physician Nguyen Thu Huong who lives with her husband and daughter in a small suburban apartment in Hanoi.

Sotheby's International Realty Network Enters Vietnam

Sotheby's International Realty Affiliates LLC today announced it has signed an exclusive 25-year licensing agreement with Indochina Land to develop the Sotheby's International Realty(R: 41.83, +0.21, +0.50%) brand in Vietnam, with its first office set to open in April 2008.

According to Michael R. Good, president and chief executive officer, Sotheby's International Realty Affiliates LLC, Vietnam is an attractive market for the brand and an important step forward in its overall international growth plans.

Hanoi to move west, property investments follow

The Ministry of Construction and Hanoi authorities have just begun considering expanding Hanoi and building belt road No 4. However, real estate developers have already heard the news and are rushing to buy property on the Western outskirts, especially in Ha Tay – West of Hanoi.

Last week, at the Dai Nam University opening ceremony, Director of a joint stock bank and an investor in the school, revealed his bank had successfully purchased property in Ha Dong town, which many foresee belonging to Hanoi in the future.