Vietnam property rent prices to hit new records this year

The real estate researcher said offices, purpose-built retail, residential, industrial, hotels, resorts and golf courses would experience record rent rates in major centres like Ho Chi Minh City, Hanoi, Da Nang, Phan Thiet and Vung Tau.

Rent in A-grade office buildings will surge by US$65-70 per square meter a month from last year, excluding service charges and value-added tax.

According to CBRE, HCMC will see the greatest increases due to soaring demand from individuals and businesses.

Lawyers find strong business niche thanks to WTO

Lawyer Kinh related that a client once asked for advice on a real estate contract. The client asked Mr. Kinh about the fee. “$4,000,” Mr Kinh said. “I will pay you $10,000,” the client said, and Mr. Kinh received $10,000 the next day.

Mr Kinh said foreign investors never bargain about the service fee. Sometimes, when giving consultancy in simple cases, Mr. Kinh demands VND50mil, and the clients were very surprised at the low price.

Foreign investment keeps flowing into Vietnam

The investment environment in Vietnam continued to be improved. In particular, 2007 was the second year since the Investment Law and Corporate Law have been promulgated with more transparent regulations. Though these laws still need to be perfected, they have helped revitalise investment and trading activities, encouraging localities in promoting investment, simplifying investment procedures and supporting investors to carry out their projects after being licensed.

Real Estate Booms in Communist Vietnam

In Hanoi, Bui Vu Thi has a new apartment in a good neighborhood with two bedrooms, one bath and a great view of the lake. She bought it three years ago, before it was even built. With some help from her parents, she paid $92,000 in cash. Today, she says, it's worth three times that.

There's a lot of cash in Vietnam today, and more coming in foreign capital remittances from Vietnamese living and working overseas.

UAE developers keen to tap Vietnam real estate

Dubai-based property developers are moving swiftly to invest in Vietnam, eager to tap the nascent real estate market there. The latest to join the bandwagon is ETA Star, the real estate arm of the ETA Star-Ascon Group, which plans to launch a mixed-use project in Ho Chi Minh City of Vietnam.