According to the world’s leading real estate service provider in Vietnam, CB Richard Ellis (CBRE), the demand for real estate in Hanoi would remain high in 2008 and supply would not meet demand for the 2008-2009 period. Only after big projects become operational by 2010, would there be a balance between supply and demand.
At a press conference held in Hanoi recently, a representative from CBRE said the 1000th anniversary of Thang Long-Hanoi by 2010 and positive signs from Vietnam’s WTO membership have attributed to surging demand for real estate.
In the next two and five years, several major foreign investment projects are expected to be completed and put into operation, helping overcome the problem.
Monday, March 10, 2008
Saturday, March 8, 2008
Foreign banks jump in vietnam real estate market
While local banks are turning off the ‘vietnam real estate credit valve’ as requested by the State Bank of Vietnam, foreign banks are trying to increase credit.
Several foreign banks and foreign investment funds have jumped onto the bandwagon. Prudential, an insurer, through its fund management company and finance leasing company has announced the programme on lending to the clients who have permanent and long term residential registration books.
All the clients, who have the monthly income of VND4,8mil and higher, can access the loans with no mortgage assets.
Several foreign banks and foreign investment funds have jumped onto the bandwagon. Prudential, an insurer, through its fund management company and finance leasing company has announced the programme on lending to the clients who have permanent and long term residential registration books.
All the clients, who have the monthly income of VND4,8mil and higher, can access the loans with no mortgage assets.
Tuesday, March 4, 2008
Vietnam is the fifth most expensive office location in Asia
"Vietnam is booming," said Toby Dodd, general manager of Cushman & Wakefield in Vietnam while commenting on the Office Space across the World 2008 report which reveals global parallels and insights into the Vietnamese real estate market.
Prime office rents in Vietnam are out of tandem with the rest of Asia as the country's economic progress accelerates after its entry to the World Trade Organization, he said.
The country's gross domestic product forecast for the current year is second only to the supercharged economies of China and India. With such strong economic fundamentals and rising foreign direct investment, the demand for office space is far outstripping supply, so HCMC's rents have grown by a significant 40% over the last year to a rate of over US$68 per square meter per month due to a lack of prime and Grade A office supply across the city, says the report.
Prime office rents in Vietnam are out of tandem with the rest of Asia as the country's economic progress accelerates after its entry to the World Trade Organization, he said.
The country's gross domestic product forecast for the current year is second only to the supercharged economies of China and India. With such strong economic fundamentals and rising foreign direct investment, the demand for office space is far outstripping supply, so HCMC's rents have grown by a significant 40% over the last year to a rate of over US$68 per square meter per month due to a lack of prime and Grade A office supply across the city, says the report.
Sunday, March 2, 2008
Cisco looks into Vietnam real estate market
Speaking at the Viet Nam Connected Real Estate 2008 Summit, Cisco Systems’ regional business development manager Jared Ramesh Danaraj said: "Booming real estate in the Asia Pacific region offers exciting possibilities as well as unique challenges for owners and developers of commercial buildings."
"To stand out among the competition, we want to take a new approach to developing buildings," he said. "Leveraging technology is one of the major factors that enhances service levels and building operations."
"To stand out among the competition, we want to take a new approach to developing buildings," he said. "Leveraging technology is one of the major factors that enhances service levels and building operations."
Saturday, March 1, 2008
Vietnam Real estate sales slow, prices still high
Despite measures to tighten lending for property speculation, real estate prices in Ho Chi Minh City are expected rise, although at a slower pace.
Other property trading centers in the city have been experiencing a similar decline in transaction volume over the past week, which some say is caused by commercial banks’ decision to tighten credit on property loans.
Banks last week tried to limit their exposure to Vietnam’s risky land market, tightening the guidelines for property loan applications in a bid to minimize lending to speculators.
Other property trading centers in the city have been experiencing a similar decline in transaction volume over the past week, which some say is caused by commercial banks’ decision to tighten credit on property loans.
Banks last week tried to limit their exposure to Vietnam’s risky land market, tightening the guidelines for property loan applications in a bid to minimize lending to speculators.
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